The Great Depression Test Review pt.1

Question 1

Speculation

Answer 1

make a quick profit, risky!

Question 2

Buying stock on margin

Answer 2

borrowing money $ from banks to help pay for stocks= banks short on cash

Question 3

Run on banks

Answer 3

large amounts of people withdraw their money

Question 4

uneven distribution of wealth

Answer 4

rich got richer while working wages rose slightly

Question 5

farmers overproduction

Answer 5

growing too much=low price and increased debt

Question 6

credit

Answer 6

buy now pay, installment plan, led to increased debt

Question 7

tariffs

Answer 7

tax on imported goods, makes products more expensive

Question 8

dust bowl included:

Answer 8

poor farming, drought, high winds

Question 9

most Dust Bowl victims moved to

Answer 9

California (their “promised land”)

Question 10

depicts the struggles of Oklahomans, “Okies”, fleeing the dust bowl, and is by John Steinbeck.

Answer 10

Grapes of Wrath

Question 11

President Hoover believed

Answer 11

the economy will fix itself

Question 12

businesses & local charities

Answer 12

can support those affected

Question 13

Hoover increased….

Answer 13

funding for public work, loans to private businesses

Question 14

WWI veterans & their families march on Washington D.C. for earlier payment

Answer 14

bonus army

Question 15

shantytowns that conveyed people’s disappointment

Answer 15

Hoovervilles