HSUS_ANC_SURVEY_C21_Sec_Quiz.fm Page 18 Tuesday, December 23, 2008 4:46 PM
Name
Class
Date
THE GREAT DEPRESSION
Section 1 Quiz
A.
Key Terms and People
Choose the letter of the person or term that best fits each description.
Column I
Column II
1. a time of economic downturn and high
unemployment between 1929 and 1941
2. the periodic expansion and contraction
of the economy
3. United States President from 1929 to 1933
4. a risky stock purchase intended to turn
quick profits
a.
b.
c.
d.
e.
f.
business cycle
Herbert Hoover
Black Tuesday
Hawley-Smoot Tariff
speculation
Great Depression
5. a tax passed in 1930 on foreign products
brought into the United States
6. the time at which the stock market
collapsed in the Great Crash
B.
Key Concepts
Write the letter of the best answer or ending in each blank.
7. Which of these factors helped hide economic problems in the 1920s?
a. Investors lost confidence in the market.
b. Farmers sold crop surpluses to pay off their debts.
c. Americans purchased many consumer goods on credit.
d. Wages increased at the same pace as worker productivity.
8. Why did so many banks fail at the onset of the Great Depression?
a. Too many investors tried to open new accounts.
b. Too many depositors tried to withdraw their money all at once.
c. The stock market collapsed too slowly to collect on debts.
d. The Federal Reserve put too much money into circulation.
9. European countries reacted to the Hawley-Smoot Tariff by
a. increasing global trade.
c. importing more American goods.
b. taxing American imports.
d. lowering prices on exports.
10. What economic condition did economist John Maynard Keynes believe
caused the Great Depression?
a. lack of government intervention
b. strict controls on stock speculation
c. too much oversight of banking
d. limits on production and spending
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