U.S. Chapter 30 Formative Assessment
Quiz by Brad Poock
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16 questions
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- Q1Which of the following is the correct term for the charge made by a bank for the use of their money?taxesinterestinflationprofit30s
- Q2In a typical _____, panicked depositors lined up around the block to try to withdraw their money.bank runmarket crashdepressionrecession45s
- Q3Which of the following is the correct term that describes how someone with just $1,000 could borrow $9,000 and buy $10,000 worth of shares?buying on marginloan sharkingoverspeculationdeficit spending45s
- Q4Which of the following is the correct term for a person who sells stock?bouncerbankerbrokerstockman45s
- Q5Which of the following best describes an economic situation in which people are not buying as much as the economy is producing?inflationunderconsumptionoverproductionstagflation45s
- Q6Which of the following terms describes an economic situation in which more products are being created than people can afford to buy?overproductionstagflationinflationunderconsumption45s
- Q7A steady decrease in stock market prices is known as a _____.crashbear marketslidebull market45s
- Q8Examine the flowchart. Which statement belongs in the center box?Depositors called for government regulation of banks.Depositors withdrew their cash from banks.Depositors borrowed money from banks to invest in the stock marketDepositors demanded that banks raise interest rates45s
- Q9Which of these did the MOST to trigger a worldwide collapse in trade during the 1930s?Dust BowlDawes PlanHawley-Smoot Tariff ActBlack Tuesday45s
- Q10What was the main contributor to many banks failing between 1930 and 1933?People lost trust in the banks and many tried to withdraw their money.People usually purchased goods instead of saving money in a bank.People often did not take out loans because of the high interest rates.People were no longer interested in using credit to purchase goods.45s
- Q11How did Congress contribute to the cause of the Great Depression?They kept interest rates low to make borrowing money easierThey implemented an extremely high discount rate.They passed a law that raised the taxes of imported goods.They made policies that favored global trade over local trade.45s
- Q12How did investors respond to the bear market in 1929, and what was the effect of this response?Investors quickly sold their stocks, which caused stock prices to lower.Investors put all of their money into stocks, which caused banks to fail.Investors began buying stocks overseas, which led to a bull market.Investors bought as many stocks as possible, which raised stock prices.45s
- Q13Which of the following is NOT considered a cause of the Great Depression?foreign competitionunder consumptionoverproductionstock speculation45s
- Q14Why was there not a demand for all the goods being produced in the late 1920s?People could not afford to buy all the goods that were being produced.Monopolies dominated the marked and set extremely high prices.Companies outside of the United States offered lower priced goods.Banks began refusing credit to people who did not have steady jobs.45s
- Q15Which of the following statements BEST describes what happened on Black Tuesday?The Supreme Court ruled that the NRA was unconstitutional.Federal troops attacked the Bonus Army marchers.Stock prices fell and the stock market crashedBank runs forced many banks to close their doors.45s
