GD & New Deal Quiz

Question 1

What were the 4 main causes of GD?

Answer 1

• Overproduction
• Laissez-faire policies and their effects
• Speculation and buying goods on margin
• Stock Market crash

Question 2

What were 5 effects of the GP?

Answer 2

• Unemployment: loss of jobs
• Hoovervilles
• Bonus Army
• Dust Bowl
• Impact of the Great Depression on minority groups

Question 3

What is GNP?

Answer 3

total price of goods & services a country makes in a time period that measures the economic growth

Question 4

What is a recession?

Answer 4

when business slows down and people loose jobs in a period of time

Question 5

What is laissez-faire?

Answer 5

the government decreases its role in economy

Question 6

Who is Herbert Hoover?

Answer 6

a Republican commerce secretary who became president

Question 7

What did Hoover make? (4)

Answer 7

organized crime in Chicago, Wickersham Commission, made national parks, Federal Farm Board

Question 8

What is speculation?

Answer 8

investing lots of money to sometimes make quick or large profits

Question 9

What is the stock market?

Answer 9

allowed people to buy and sell shares in companies

Question 10

What is margin? (3)

Answer 10

borrowing money to buy stocks
banks made money
was risky

Question 11

When and what was black Thursday? (3)

Answer 11

October 24, 1929
traders sold $13 mil shares of stocks
share prices dropped dramatically

Question 12

Effects of Hoover elected?

Answer 12

more people speculated

Question 13

contribution of roaring 20s to GD (3)

Answer 13

wealth not distributed
overproduced goods
industrial growth stopped so unemployment increased

Question 14

contribution of government encouragement for farm production during an following WWI on GD (3)

Answer 14

high priced goods because of war that lead to them buying more and borrowed money
factories layed off workers

Question 15

contribution of rise of stock prices on GD (2)

Answer 15

people bought stocks because they thought it was their only source of income
companies sold shares to pay for their companies

Question 16

contribution of banks issuing more loans on GD (2)

Answer 16

more people borrowed money to buy stocks

interest increased

Question 17

contribution of speculation on GD (2)

Answer 17

this could get people in deep debt if their stocks did bad

stockbrokers WANTED people to buy stocks

Question 18

contribution of lack of regulation in the stock markets on GD

Answer 18

if stocks went down, people lost a lot of their money

Question 19

What was black Tuesday? (2)

Answer 19

October 29, 1929

the stock market collapsed and $16 mil shares of stocks were sold and banks failed because black Thursday didn’t work

Question 20

What is the Federal Reserve System?

Answer 20

told banks to keep some cash which caused money prices to go up and rate on loans increased so banks failed and companies went into bankruptcy

Question 21

What was the Bonus Army?

Answer 21

a group of WWI veterans that wanted $1,000 each and hoped their marching on D.C. would presume the Senate to give them the money

Question 22

What was the Dust Bowl? (2)

Answer 22

large dust storms in the 1930s that was caused by overgrazed topsoil after droughts that turned the soil into duct that blew to middle countries and thr ocean

people got sick and crops couldn’t be grown

Question 23

What are Okies?

Answer 23

Oklahoma migrant workers that moved to California for jobs

Question 24

Effects of GD/DB on farmers? (5)

Answer 24

ruined farms & equipment
left Great Plains
took seasonal jobs in new states
when season over, moved
migrant workers

Question 25

Effects of GD/DB on AA’s? (5)

Answer 25

1.2 mil AA farmers lost money when price of crops went down but renting farms didn’t
violent racist white people attacked them people they wanted their jobs
left to South
lost jobs to white ppl
fell into poverty w/ debts

Question 26

Effects of GD/DB on Mexicans? (5)

Answer 26

had to move to find jobs
Americans didn't want competitions
Americans pushed gov for less immigrants
gov mushing migrants to leave
placed in jail w/ no proof