The Causes and consequences of the Wall Street Crash
Quiz by Amanda
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26 questions
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- Q1Which statement is an accurate description of a 'speculator'?An expert stock trader.Someone with a good understanding of the stock market.Someone who is gambling on the stock market to 'get rich quick'.Someone who understands that prices fluctuate and go down as well as up.20s
- Q2How many share owners were there in the USA in 1920?400 0004004 million10 million20s
- Q3How many share owners were there in 1929?20 million2 million20 billion200 00020s
- Q4How many people 'speculated' in the 1920s?600 million6 million60600 00020s
- Q5What is 'buy on margin'?You pay 10% of the share cost and get a loan for the rest.Buying lots of shares at once.Buying shares with a friend.Get a loan for a month from the bank.20s
- Q6How much money did banks give out to 'speculators' in the 1929?$12 million$6 billion$3 million$9 billion20s
- Q7Finish the statement...'Speculation was high because......was high'.creditconfidencegamblingdebt20s
- Q8Which industry suffered a downturn from 1926?FashionCinemaTravelConstruction20s
- Q9How many banks failed each year before the Wall Street Crash?5 million5 000550020s
- Q10Why were sales of new products slowing down in late 1920sThe people who could afford to buy them had already bought themThe new products broke to easily.People preferred the old technology.They were cheaper from abroad.20s
- Q11What had Europe put on USA goods that also reduced demand?'Made in the USA' stickers.TariffsThe wrong plugsUSA flags20s
- Q12How many shares were traded on the worst day of the crash?130013 million13, 00013 billon20s
- Q13How much money did the Vanderbilt family lose?$20 million$10 million$5 million$40 million20s
- Q14What did president Hoover say in the early weeks of the depression'wait and see''I am the do-nothing president''Prosperity is just around the corner''there is a chicken in every pot'20s
- Q15What did Hoover do to try and people buying products againstop all importsraise taxescut taxesslash prices20s