Question 1

Business Failures

Accepted Answer

Companies closing permanently, which results in money and job loss and was a major problem during the Great Depression.

Question 2

Unemployment

Accepted Answer

People who want to work, but are unable to secure jobs, which was a major problem during the Great Depression.

Question 3

Herbert Hoover

Accepted Answer

Republican president at the beginning of the Great Depression who believed in laissez-faire economics and was criticized for not getting the government involved until near the end of his term.

Question 4

Black Tuesday

Accepted Answer

Devastating stock market crash on October 29, 1929 that signaled the start of the Great Depression in the United States.

Question 5

Dow Jones Index

Accepted Answer

Stock market benchmark consisting of 30 major companies that economists and investors use to gauge the overall performance of the stock market, which crashed during the Great Depression.

Question 6

Buying on Margin

Accepted Answer

Speculative investment strategy of borrowing most of the cost of a stock on the hopes it increases in price, which helped cause the Great Depression.

Question 7

Uneven Distribution of Income

Accepted Answer

One of the major causes of the Great Depression, wages for the average American worker rose little during the 1920s when compared to the large increases in corporate profits.

Question 8

Excessive Use of Credit

Accepted Answer

Abuse of borrowing money and installment purchases based on the belief the economy would continually improve, which was one of the major causes of the Great Depression.

Question 9

Overproduction

Accepted Answer

Companies manufacture more goods than consumers demand, which causes prices to fall and was one of the major causes of the Great Depression.

Question 10

High Tariffs

Accepted Answer

Taxes on foreign goods that can help protect domestic manufacturers, but can hurt domestic consumers and international trade, which helped cause the Great Depression.

Question 11

Federal Reserve

Accepted Answer

Central banking system of the United States that helps regulate the economy, which some economists blamed for helping cause the Great Depression because of a tight monetary policy.

Question 12

Bank Failures

Accepted Answer

Banks running out of money and closing permanently, which resulted in people losing all of their savings and was a major problem during the Great Depression.

Question 13

Gross National Product (GNP)

Accepted Answer

Value of all the goods and services produced by a nation in one year, which dropped greatly for the United States during the Great Depression.

Question 14

Poverty

Accepted Answer

Socio-economic condition at which a person or community lacks the financial resources and essentials for a minimum standard of living, which was a major problem during the Great Depression.

Question 15

Homelessness

Accepted Answer

Socio-economic condition at which a person lacks a fixed, regular and adequate nighttime residence, which was a major problem during the Great Depression.

Question 16

Stock Market Crash

Accepted Answer

Rapid and often unanticipated drop in stock prices, one of which occurred on Black Tuesday and signaled the beginning of the Great Depression.

Question 17

Self-Reliance

Accepted Answer

Idea that people should provide for themselves through hard work over government aid, which President Hoover used as justification for not providing government aid at first during the Great Depression.

Question 18

Hawley-Smoot Tariff

Accepted Answer

Highest tax on foreign goods in American History, which caused many countries to increase taxes on American goods and led to a decline in international trade during the Great Depression.

Question 19

Debt Moratorium

Accepted Answer

Proposal by President Hoover for suspending payments of international debts during the Great Depression, which some countries agreed to, but others refused and led to massive loan defaults.

Question 20

Farm Board

Accepted Answer

Government entity created under President Hoover during the Great Depression to help stabilize agricultural prices, but lacked the necessary power to handle the overproduction of farm goods.

Question 21

Reconstruction Finance Corporation (RFC)

Accepted Answer

Government entity created under President Hoover during the Great Depression to help provide loans to companies and banks, but not private workers.

Question 22

Bonus March

Accepted Answer

Thousands of WWI veterans traveled to Washington D.C. to demand promised bonuses, but instead were forcibly and violently removed by the U.S. Army, which sparked national outrage.

Question 23

Hoovervilles

Accepted Answer

Nickname given to shantytowns that popped up during the Great Depression, which reflected the general attitude that President Hoover did “too little, too late” to address the Great Depression.

"Know" box contains:
Time elapsed:
Retries:

Reading 7.9

Great Depression