Topic 1

Question 1

Q: What event triggered the Great Depression in 1929?

Question 2

A: The Wall Street Crash (October 1929)

Question 3

Q: What does “buying on the margin” mean?

Question 4

A: Buying shares with borrowed money.

Question 5

Q: What economic issue resulted from mass production and falling wages?

Question 6

A: Overproduction and underconsumption.

Question 7

Q: Why did US banks collapse during the early 1930s?

Question 8

A: Poor regulation and bad loans.

Question 9

Q: What was the Hawley-Smoot Tariff (1930)?

Question 10

A: A high import tax that worsened international trade.

Question 11

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Question 12

📉 Effects of the Depression

Question 13

Q: What percentage of Americans were unemployed by 1933?

Question 14

A: 25% (around 13 million people)

Question 15

Q: What were “Hoovervilles”?

Question 16

A: Shantytowns for the homeless

Answer 16

named after President Hoover.

Question 17

Q: What environmental disaster worsened farmers’ problems?

Question 18

A: The Dust Bowl.

Question 19

Q: How did the Depression affect African Americans and minorities?

Question 20

A: Higher unemployment and deeper poverty than whites.

Question 21

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Question 22

🧑‍💼 President Hoover’s Response

Question 23

Q: What was Hoover’s economic belief?

Question 24

A: Rugged individualism and limited government intervention.

Question 25

Q: What did the Reconstruction Finance Corporation (1932) do?

Question 26

A: Gave loans to businesses and banks.

Question 27

Q: Why was Hoover criticized during the Depression?

Question 28

A: People felt he did too little

Answer 28

too late.

Question 29

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Question 30

✅ Roosevelt and the New Deal

Question 31

Q: What were the three aims of the New Deal?

Question 32

A: Relief

Answer 32

Recovery

Question 33

Q: What did the CCC (Civilian Conservation Corps) do?

Question 34

A: Provided jobs for young men in conservation projects.

Question 35

Q: What was the purpose of the AAA (Agricultural Adjustment Act)?

Question 36

A: To reduce farm production and raise crop prices.

Question 37

Q: What was the TVA (Tennessee Valley Authority)?

Question 38

A: A project to provide electricity and jobs in poor rural areas.

Question 39

Q: What did the FDIC do?

Question 40

A: Protected people’s bank savings.