Depression Practice Test

1.

1 point

What tariff did Herbert Hoover put into place?

Smoot-Harvard

Hoover-Butcher

Smoot-Hawley

Hoover-Baker

2.

1 point

Select the three parts to the SEC's current mission.

Protect investors

Facilitate capital formation

Finance small businesses

Advise investors

Maintain fair, orderly, and efficient markets

3.

1 point

What happened to the stock market after stocks began to plummet on Black Thursday in 1929?

A group of bankers met and decided to buy large quantities of many important stocks, which increased both stock prices and investor confidence.

The Federal Reserve inserted more credit into the economy to bring down interest rates, which made it easier for companies and individuals to get loans.

Stock prices fell throughout the day, but flattened after hours and eventually recovered on Friday.

The market crashed and took years to recover, beginning the Great Depression.

4.

1 point

What did "The Cocoanuts" parody?

California's real estate bubble during the 1920s

Florida's real estate bubble during the 1920s

Hawaii's coconut bubble during the 1920s

Hawaii's real estate bubble during the 1920s

5.

1 point

Whom were Hoovervilles named after?

Stanton Hoover

John Hoover

Herbert Hoover

Phillip Hoover

6.

1 point

What was the main goal of the WPA?

protect American consumers from greedy investors

build infrastructure and recreation equipment throughout the United States

build up American infrastructure in order to prepare for WWII

put unemployed people to work on construction and infrastructure projects

7.

1 point

When were the Bonus Army marchers supposed to receive their bonus?

1932

1937

1939

1945

8.

1 point

Which of the following is a quote from Herbert Hoover describing his economic policies?

"Private business aided by helpful government is the driver of the American economy.

"Investors have made risky bets that have destroyed the American economy."

"We are entering the Great Depression, which our government must do everything in its power to halt."

"Economic depression cannot be cured by legislative action or executive pronouncement."

9.

1 point

What does CCC stand for?

Civilian Conservation Corps

Communist Conservation Commune

Cool Cats Club

Capitalist Conservation Corporation

10.

1 point

What did the FDIC do when it was formed in 1934?

insured bank deposits

insured the stock market

regulated the stock market

protected consumers

11.

1 point

When did Black Tuesday occur?

October 29, 1929

June 14, 1929

March 25, 1929

October 8, 1929

12.

1 point

Which of the following were problems that farmers faced during the 1920s? Choose the two best answers.

the Dust Bowl

foreclosure

overproduction

failed agricultural technologies

13.

1 point

Which of the following is an example of speculation?

Joe buys a stock that he plans to sell the next day and make a quick buck.

Joe buys a stock because he is a friend of the CEO of the company.

Joe buys a stock because he wants a good long term investment.

Joe buys a stock because the company's profits and sales are good and stable.

14.

1 point

Which of the following were causes of the Dust Bowl? Choose the two best answers.

bad weather

bad agricultural practices

bad economic times

bad people

15.

1 point

Which of the following was a major part of Keynesian economics?

government regulation of the economy

protection of private investment and property

protection of domestic businesses

emphasis on an effective education system