STUDY GUIDE - Georgetown ISD



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STUDY GUIDE

CHAPTERS 17 GREAT DEPRESSION

Pages 530 – 534

What was a major cause of the Great Depression?

a) Prior overproduction of manufactured goods

b) a decrease in the supply of consumer goods

c) An increase in the demand for imported goods

d) an increase in the price of wheat on the world market

Which economic factor contributed directly to the start of the Great Depression?

a) low worker productivity

b) decreasing tax rates

c) high income taxes

d) buying stocks on margin

A major campaign issue in the 1928 election was

a) economic recovery

b) prohibition

c) Depression relief

d) social reform

Between May 1928 and September 1929, the prices of stocks

a) doubled in value

b) rose 25%

c) remained the same

d) lost about half of their value

e) set record figures for low values

Thousands of World War I veterans came to Washington in 1932 to lobby Congress to

|a. |Enact a bonus for war veterans. |

|b. |Pass legislation giving veterans their promised bonus early. |

|c. |Provide public works jobs for unemployed veterans. |

|d. |Provide military jobs for unemployed veterans. |

1. What were the issues that got Herbert Hoover elected in 1928?

a) Prosperity

b) Prohibition

c) Catholicism

2. Who was Al Smith?

a) New York candidate in 1928

b) Catholic

c) ‘Wet’

3. What is a bull market and a bear market?

a) Bull is a market going up

b) Bear is a market going down

3. What is meant to buy stock on margin? What is a margin call?

a) Buying on margin means you pay 10% of the price, the stockbroker pays for the rest. When the stock goes up, they sell it and make the money back.

b) If the stock doesn’t go up, the stockbroker makes the buyer pay the whole price

4. What is speculation and what role did it play in the stock market crash?

a) Speculation is buying something just to sell it.

b) Speculation makes the prices of everything go up and it made the general price of stocks too high. It inflated the market artificially

5. What caused the banks to fail?

a) Invested depositors money in the market without their permission

6. What were 3 causes of the Great Depression?

a) Overproduction

b) Speculation

c) Uneven distribution of wealth

7. What are installment plans? What role did they play in the Depression?

a) Buying something on credit and paying for it every month

b) Too many people were buying too many things they couldn’t pay for

8. What role did export sales play in the Depression?

a) High tariffs made it impossible to sell our goods overseas, so we overproduced

9. What was Congress’ biggest mistake in the early days of the Depression?

a) They froze and did nothing

10. What mistakes did the Federal Reserve make?

a) Raised interest rates

Pages 535-546

In 1932 farmers on the Great Plains began to lose their crops because

|a. |the soil lost its fertility. |

|b. |frequent rains eroded the soil. |

|c. |a wheat fungus devastated the fields. |

|d. |the soil dried up. |

President Hoover opposed direct federal relief to the unemployed because he believed that

|a. |only state and city governments should dole out relief. |

|b. |the Depression would end soon. |

|c. |charities could provide sufficient relief until the economy improved. |

|d. |individuals should be responsible for taking care of themselves. |

. The first feature-length animated film was

|a. |Animal Crackers. |

|b. |The Wizard of Oz. |

|c. |Snow White and the Seven Dwarfs. |

|d. |Mr. Smith Goes to Washington. |

The Purpose of the Reconstruction Finance Corporation was to

a) provide funding for the construction of Federal buildings

b) create schools to retrain the unemployed

c) purchase the stocks of failing institutions

d) provide federal loans to troubled banks, railroads and other big businesses

e) encourage a massive construction program for public works

Which economic factor contributed directly to the start of the Great Depression?

e) low worker productivity

f) decreasing tax rates

g) high income taxes

h) buying stocks on margin

1. What percentage of Americans were affected by the Depression by 1933?

a) 25%

2. What are: soup kitchens, bread lines, shantytowns and Hoovervilles?

a) Soup kitchens – free food

b) Tent cities put up on public land

c) What they called the tent cities to make fun of Hoover

3. What were the causes of the Dust Bowl?

a) Over farming

b) Drought

4. Why did Hollywood create so many cartoons and fantasy movies during this time?

a) If you lost your job and you were hungry would you want to watch a movie about people that lost their jobs and were hungry? Of course not, Hollywood made money.

5. Who were the Bonus Marchers? What happened to their demands?

a) Veterans of WWI that had been promised a bonus of 600 dollars to be paid in 1945

They marched on Washington to get paid early

b) Congress and Hoover refused to help them and used the Army to run them out

This made Americans very bitter toward Hoover

5. What did Hoover do to stop the decline of the American economy?

a) Reconstruction Finance Corporation was formed to help banks and big businesses

b) He personally thought all aid should come from the states. He didn’t think the Federal government should do it.

6. Why was Hoover opposed to direct relief?

a) He thought it was unconstitutional

b) He thought it would make the American people weak and dependent

7. What is deficit spending?

a) A government spending more money than it collects in taxes (borrowing)

8. Why did Hoover oppose deficit spending?

b) He was a traditionalist and a rich man that feared inflation

10. What are public works?

a) Public construction projects like dams and bridges

12. What is foreclosure?

a) When the bank takes back your house or car

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