The Great Depression CFA

Front

Which of the following was a major cause of the Great Depression? Options: overproduction and underconsumption, a decrease in the supply of consumer goods, an increase in demand for imported products, an increase in the price of wheat on the world market

Back

overproduction and underconsumption

Front

Who was the President of the United States when the Stock Market crashed?

Back

Herbert Hoover

Front

How did "bank runs" impact the American people during the Great Depression?

Back

Banks eventually ran out of money to loan, and people's life savings were gone.

Front

What was the main reason for the emergence of “Hoovervilles” like the one shown in the photograph?

Back

Many Americans had lost jobs during the Great Depression.

Front

During the 1930s, poor land management and severe drought conditions across parts of the Midwest resulted in the

Back

development of Dust Bowl conditions on the Great Plains

Front

A major difference between the philosophies of President Herbert Hoover and President Franklin D. Roosevelt in responding to the Great Depression is that Roosevelt

Back

supported direct relief to people out of work

Front

FDR addressed the American public in weekly broadcasts known as:

Back

Fireside Chats

Front

What was a guiding principle of the New Deal economic policies?

Back

Government must assume more responsibility for helping the poor.

Front

As part of the New Deal, the Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC) were created to

Back

protect individual investors from stock fraud and bank failure

Front

Passage of the Social Security Act (1935) helped American workers by

Back

providing financial assistance after retirement