SOLVED

Multiple Choice 1.What occurred on “Black Tuesday”? a.A stock market crash wiped out all the gains of the previous year. b.Germany attacked Poland. c.Herbert Hoover announced he would take no action regarding the faltering farm economy. d.U.S. Steel announced a layoff of over half its workers. 2.The Wall Street crash a.was triggered by excessive government spending. b.only affected middle-class Americans. c.was caused by the low level of investment in the 1920s. d.marked the beginning of the depression, but did not cause it. 3.All of the following were causes of the Great Depression EXCEPT a.unequal distribution of wealth. b.a drop in agricultural production in the mid-1920s. c.the dominance of oligopolies in the American economy. d.reckless banking and speculation unchecked by regulation. 4.In the early years of the depression a.voluntarism was rejected by the Hoover administration. b.foreign markets for American goods shrank. c.unemployment had not emerged as a major problem. d.farmers’ incomes rose dramatically. 5.An early result of the 1929 stock market crash was a.even more massive declines in stock values in Europe the day after Black Tuesday. b.an acceleration of European repayments of American loans. c.a large decrease in American investments in Europe. d.increased American exports. 6.The depression was prolonged when a.the government ordered that more exports be sold in Europe. b.banks voluntarily submitted to regulatory policies. c.the Federal Reserve Board restricted the nation’s money supply. d.farm prices and workers’ wages skyrocketed. 7.In the first years of the depression, personal income a.dropped by more than half. b.did not emerge as a major problem area. c.remained steady, but prices rose. d.reflected the relative strength of the industrial economy. 8.The Grapes of Wrath, which chronicled the plight of those affected by the Dust Bowl, was written by a.Ernest Hemingway. b.Mark Twain. c.John Steinbeck. d.F. Scott Fitzgerald. 9.The Smoot-Hawley bill a.dropped tariffs by more than half. b.provided relief for many who were suffering. c.increased international trade. d.raised tariffs to the highest level in American history. 10.Between 1929 and 1946, only the ___________ fifth of Americans saw their percentage of American income decline. a.lowest b.second lowest c.middle d.highest Â