1. When the stock market does well for a long period of time, this is called a ______. A) black...

1. When the stock market does well for a long period of time, this is called a ______.

• A) black market

• B) open market

• C) bull market

• D) bear market

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2. In 1928, Americans thought Hoover would be a good President for all reasons except

_____.

• A) he supported American businesses

• B) he supported low taxes for Americans

• C) he was a Republican and a good businessman

• D) he supported low tariffs

3. The total value of all goods, services, and structures produced in a country is _____.

• A) net worth

• B) Gross Domestic Product GDP

• C) income tax

• D) business cycle

Representation of the World’s GDP.

4. The Business Cycle repeats throughout history and has ______ parts.

• A) 5

• B) 6

• C) 3

• D) 2

5. When many depositors withdraw their money at one time, it is called a _______.

• A) Bear Market

• B) Stock Market Crash

• C) Bank Run

• D) Margin Call

6. One factor that hurt American businesses during the Great Depression was ______.

• A) luxury tax

• B) too many credit cards

• C) too many buyers

• D) overproduction and few consumers

7. Uneven distribution of wealth means _________.

• A) laws are unfair for the poor

• B) the government collects high taxes

• C) few people control most of the nation’s money

• D) people use credit too often

8. What was the impact of the Hawley-Smoot Tariff?

• A) imports became cheaper

• B) it made it difficult for U.S. products to be sold overseas

• C) foreign companies loved this

• D) Americans wanted to buy foreign goods

9. An import is a good that America _________.

• A) made in another country

• B) has shipped to another country

• C) has sold to a foreign country

• D) has bought from another country

10. Most banks are ___________.

• A) privately owned

• B) owned by the U.S. government

• C) owned by the states

• D) located on Wall Street

11. The two jobs of the Federal Reserve are to print money and __________.

• A) make loans to American citizens

• B) collect taxes

• C) conduct monetary policy

• D) tax the public

12. The Federal Reserve can hurt the economy by keeping interest rates low for all the following reasons

except _________.

• A) encouraged the banks to make risky loans

• B) kept people from buying

• C) led businesses to expand in an unstable economy

• D) led to overproduction

13. Banks used to be able to invest the depositors’ money in __________.

• A) fifty-fifty drawings

• B) games of chance

• C) the stock market

• D) lottery tickets

14. All were causes of the Great Depression except ________.

• A) banks closing and loss of faith in banks

• B) mistakes by the Federal Reserve

• C) loss of export sales

• D) we didn’t have a central bank

15. When a bank or the government seizes property because the owner is not making

payments, this is a _______.

• A) bank run

• B) foreclosure

• C) crying shame

• D) mortgage call

16. The lowest point of the business cycle before expansion begins is ___________.

• A) trend line

• B) trough

• C) peak

• D) expansion

17. Hoover believed in the Reconstruction Finance Corporation and what other method to

get Americans out of the Great Depression?

• A) help from the government

• B) welfare checks

• C) public works projects

• D) direct relief

18. The name of the group of veterans who wanted early payment on a bonus that was promised to them was the _______.

• A) Veterans Without Benefits

• B) Veterans of Foreign War

• C) Lost Battalion

• D) Bonus Army

19. “Two or three blocks along Times Square, you’d see these men, silent, shuffling along in a line, Getting this handout of coffee and doughnuts, dealt out from great trucks…I’d see that flat, opaque,

expressionless look which spelled , for me, human disaster .” What can you infer from this passage?

• A) someone is handing out free samples

• B) the men are lost

• C) the men feel hopeless

• D) the men are policemen who like donuts

20. Men…who had responsible positions. Who had lost their jobs, lost their homes, lost their families…They were

destroyed men.” What can you infer?

• A) the men are no longer responsible

• B) the men lost much of what was important to them

• C) the men were divorced

• D) the men were on vacation from their jobs

21. What can you infer from this picture?

• A) it was difficult to find building materials

• B) people chose to live like this because they were lazy

• C) new neighborhoods were being built outside cities

• D) homelessness was a common problem

22. What is ironic about this picture?

• A) the people are no longer enjoying a high standard of living in the US

• B) the car is old and the people are still happy

• C) there are too many people crowded into this car

• D) no one wears hats like these

23. Why do you think men would ride the rails during the Great Depression?

• A) they felt the railroads owed them free rides

• B) it was a cheap thrill

• C) they were going from town to town looking for work

• D) for a free vacation

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