Unit 13: The 20’s / Great Depression / New Deal
True? Not True? If the statement is completely TRUE, mark “T” on the answer sheet. If the statement is completely of partially FALSE, mark “F” on the answer sheet.
1) Most of the Great Depression took place during the 1920’s.
2) Hoover was president during the first years of the Depression.
3) A “BULL MARKET” is happening, when the prices rise and fall very quickly.
4) “Over Production” is a term used to describe a situation where prices rise on various products sold in the economy.
5) Citizens in the U.S. were shocked when the stock market crashed and the depression began, because they had a great faith in the economy of the country (prior to the crash).
6) “Money Hoarding” means that persons would hold actual cash, not placing it in a bank – the persons held the money, possibly in their home.
7) The “Gold Standard” refers to the notion that the paper money in the U.S. was backed up or supported by gold. The government could issue money, only if it was equal to the amount of gold the USA possessed.
8) As a result of the difficult economic times, more citizens voted Republican.
9) Real Wages increased for the average citizen in the years prior to the depression.
10) In the years leading to the depression, the value of stocks in the market continued to rise.
11) Despite the growing optimism and wealth in the 1920’s, farmers did not experience the same positive success.
12) Hooverville was a place where the rich or successful stayed to escape the depression.
13) In the early days of the depression, President Hoover insisted things would soon get better.
14) During the depression years, the communist & socialist parties received more votes.
15) President Hoover felt that private businesses and industry should help bring the country back to economic health.
16) President Roosevelt created a series of economic and social programs, which he called the NEW DEAL.
17) The FDIC insures a person’s money, when it is placed in a bank.
18) Roosevelt felt that private business should be the sole contributor to assisting the poor.
19) Despite the financial growth in the stock market, leading up to the crash, there was a widening gap between the rich and the poor.
20) As a result of the Depression, working class and middle class people became rigid capitalists and sought to remove unions and other socialist ideologies from our country.
21) Another cause of the depression was a result of too much supply and too little demand. Companies over-produced goods, and the consumer had no money (or credit) to purchase them.
22) The New Deal was based on the ideology of “social Darwinism.”
23) Some critics of the New Deal policies felt they were too capitalistic and too free market. They penalized hard working men (and women J), who had to pay taxes to support those that could not find work.
24) Men began to change during the depression. They began to enjoy being at home and helping with raising the children. Many feared the depression would lead to a more feminine American male.
25) A “BANK RUN” occurs when banks are asked by their customers to insure the money that is entrusted to them.
From the following list, Place a “C” if the statement is a CAUSE of the Depression, and place a “N” if it is NOT a CAUSE.
26) too much optimism and faith in an ever expanding economy
27) an increase in consumers buying on credit
28) over production of products
29) too much demand for products and not enough supply
30) money hoarding
31) buying stocks on margin
32) the NEW DEAL policies
34) too many women in the work place
35) The lack of consumption of the U.S. citizens
36) Bank Runs
From the following list, Place a “P” if the statement is a POLICY of the NEW DEAL, and place a “N” if it is NOT a POLICY.
37) the federal government mandating the local businesses to encourage more production of products
38) Social Security creates pensions for workers
39) Federal Securities Act is passed to ensure that companies properly report their income to the public
40) The government hires workers to build libraries, roads, schools, parks, and airports
41) Women are allowed to vote
42) Prohibition is repealed to create more jobs