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

1. 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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3. 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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5. 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.

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7. 4. The Business Cycle repeats throughout history and has ______ parts. • A) 5 • B) 6 • C) 3 • D) 2

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9. 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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11. 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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13. 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

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15. 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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17. 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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19. 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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21. 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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23. 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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25. 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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27. 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

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29. 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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31. 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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33. 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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35. 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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37. 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

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39. 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

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41. 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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43. 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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45. 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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