Topic 13 Review

Question 1

What is a recession?

Answer 1

A period of temporary economic decline during which trade and industrial activity are reduced.

Question 2

True or False: A recession is characterized by a decrease in GDP for two consecutive quarters.

Answer 2

True

Question 3

What does interest refer to in finance?

Answer 3

The cost of borrowing money or the return on investment for savings.

Question 4

What is a bull market?

Answer 4

A financial market in which prices are rising or are expected to rise.

Question 5

Fill in the blank: A bull market is often associated with a rise of at least ___ percent in stock prices.

Answer 5

20

Question 6

What is communism?

Answer 6

A political and economic ideology advocating for a classless society and the collective ownership of means of production.

Question 7

True or False: In a communist system, private property is allowed.

Answer 7

False

Question 8

What was Prohibition?

Answer 8

A nationwide constitutional ban on the production, importation, transportation, and sale of alcoholic beverages in the United States from 1920 to 1933.

Question 9

Who were bootleggers?

Answer 9

Individuals who illegally produced or sold alcoholic beverages during the Prohibition era.

Question 10

What is organized crime?

Answer 10

Criminal organizations that systematically engage in illegal activities for profit on a large scale.

Question 11

Fill in the blank: The repeal of Prohibition occurred with the ___ Amendment.

Answer 11

21st

Question 12

What year was Prohibition repealed?

Answer 12

1933

Question 13

True or False: The stock market typically performs well during a recession.

Answer 13

False

Question 14

What happens to interest rates during a recession?

Answer 14

They generally decrease as central banks try to stimulate the economy.

Question 15

What is the primary goal of communism?

Answer 15

To establish a classless society where all property is publicly owned.

Question 16

What is a common consequence of a recession for businesses?

Answer 16

Increased unemployment and decreased consumer spending.

Question 17

Fill in the blank: During the Prohibition era, many people turned to ___ to obtain alcohol illegally.

Answer 17

bootleggers

Question 18

What is the relationship between a bull market and investor confidence?

Answer 18

A bull market typically reflects high investor confidence and optimism about future performance.

Question 19

True or False: Organized crime flourished during Prohibition due to the illegal nature of alcohol distribution.

Answer 19

True

Question 20

What economic indicators are commonly used to identify a recession?

Answer 20

GDP, unemployment rates, and consumer spending.

Question 21

What is the economic impact of repealing a prohibition?

Answer 21

It can lead to increased legal business activity and tax revenue.

Question 22

True or False: Interest rates are always low during a bull market.

Answer 22

False

Question 23

What is the significance of the 21st Amendment?

Answer 23

It repealed the 18th Amendment, effectively ending Prohibition in the United States.

Question 24

What is the main characteristic of a bull market in terms of investor behavior?

Answer 24

Investors are generally more willing to buy stocks, expecting prices to rise.

Question 25

Fill in the blank: Organized crime often engages in ___ to maintain control over illegal activities.

Answer 25

violence

Question 26

What does it mean when a market is described as bearish?

Answer 26

It indicates that prices are falling or expected to fall.

Question 27

What role do bootleggers play in the context of Prohibition?

Answer 27

They illegally smuggled and sold alcohol during the ban.

Question 28

What is a key criticism of communism?

Answer 28

It can lead to authoritarianism and a lack of individual freedoms.

Question 29

How can a recession affect consumer confidence?

Answer 29

It typically decreases consumer confidence, leading to reduced spending.

Question 30

What does the Equal Rights Amendment (ERA) aim to achieve?

Answer 30

The ERA aims to guarantee equal legal rights for all American citizens regardless of sex.

Question 31

True or False: The Equal Rights Amendment has been ratified by enough states to become law.

Answer 31

False

Question 32

Fill in the blank: The _____ was a cultural movement in the 1920s characterized by a rejection of traditional norms and the embrace of new styles and attitudes.

Answer 32

fad

Question 33

What term describes a young woman in the 1920s who flaunted her unconventional behavior and fashion?

Answer 33

flapper

Question 34

Which genre of music became popular in the 1920s, often associated with jazz bands and dance?

Answer 34

jazz

Question 35

What is a labor union?

Answer 35

A labor union is an organization of workers formed to protect and advance their rights and interests.

Question 36

Define sabotage.

Answer 36

Sabotage is the act of deliberately destroying, damaging, or obstructing something, often for political or social reasons.

Question 37

What is an anarchist?

Answer 37

An anarchist is a person who believes in or advocates for the abolition of all forms of government and the establishment of a society based on voluntary cooperation.

Question 38

True or False: Deportation is the act of expelling a person from a country.

Answer 38

True

Question 39

Multiple Choice: Which of the following best describes the 1920s flapper culture? A) Traditional B) Conservative C) Progressive D) Militaristic

Answer 39

C) Progressive

Question 40

What was the primary goal of the Equal Rights Amendment?

Answer 40

To ensure that rights cannot be denied on the basis of sex.

Question 41

Fill in the blank: The _____ movement was characterized by a rejection of Victorian values and embraced modernity.

Answer 41

flapper

Question 42

What significant event in labor history is often associated with sabotage?

Answer 42

Strikes and labor disputes.

Question 43

What decade is known as the 'Jazz Age'?

Answer 43

The 1920s

Question 44

True or False: Flappers were known for their conservative and modest clothing.

Answer 44

False

Question 45

Who were the primary targets of deportation during the Red Scare?

Answer 45

Immigrants and political radicals, especially anarchists and communists.

Question 46

Multiple Choice: Which amendment to the U.S. Constitution is associated with women's suffrage? A) 15th B) 19th C) 21st D) 26th

Answer 46

B) 19th

Question 47

What is the significance of jazz music in American culture?

Answer 47

Jazz music represents a major cultural movement and is a symbol of the African American experience and creativity.

Question 48

Fill in the blank: The _____ movement challenged the traditional roles of women in society during the 1920s.

Answer 48

flapper

Question 49

What does the term 'sabotage' often imply in a labor context?

Answer 49

Deliberate actions taken by workers to disrupt operations as a form of protest.

Question 50

True or False: Anarchists support the establishment of a centralized government.

Answer 50

False

Question 51

What is a common method used for deportation?

Answer 51

Legal proceedings based on immigration laws.

Question 52

Name one famous flapper from the 1920s.

Answer 52

Zelda Fitzgerald

Question 53

What cultural impact did jazz music have on American society?

Answer 53

It broke racial barriers and influenced other music genres.

Question 54

Multiple Choice: Which of the following is NOT a characteristic of flapper culture? A) Short hair B) Long skirts C) Smoking in public D) Jazz music

Answer 54

B) Long skirts