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

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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

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

• A) 5
• B) 6
• C) 3
• D) 2

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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

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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

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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 nations money
• D) people use credit too often

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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

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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

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10. Most banks are ___________.

• A) privately owned
• B) owned by the U.S. government
• C) owned by the states
• D) located on Wall Street

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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

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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

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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

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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 didnt have a central bank

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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

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

• A) trend line
• B) trough
• C) peak
• D) expansion

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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

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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

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19. Two or three blocks along Times Square,
youd see these men, silent, shuffling along in a
line, Getting this handout of coffee and
doughnuts, dealt out from great trucksId 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

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20. Menwho had responsible positions. Who had
lost their jobs, lost their homes, lost their
familiesThey 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

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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

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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

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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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