America's Great Depression Chapter 12
This is a 10-question quiz on Chapter 12: The Close of the Hoover Term of America's Great Depression by Murray Rothbard.
- 1.
What was Herbert Hoover's primary goal in using federal power to fight economic depression?
- A.
Reducing the cost of living.
- B.
Protecting corporate profits.
- C.
Sustaining wage rates.
- D.
Increasing corporate dividends.
Correct Answer
C. Sustaining wage rates. -
- 2.
What basic economic concept did Hoover apparently fail to grasp?
- A.
The Labor Theory of Value
- B.
The Law of Supply and Demand
- C.
Marginal Utility
- D.
The Laffer curve
Correct Answer
B. The Law of Supply and Demand -
- 3.
What New Deal fixture was presaged by the Swope Plan that Hoover rejected?
- A.
Agricultural Adjustment Administration
- B.
Tennessee Valley Authority
- C.
Works Progress Administration
- D.
National Recovery Administration
Correct Answer
D. National Recovery Administration -
- 4.
Whose property rights came under attack as a result of the depression?
- A.
Land owners
- B.
Debtors
- C.
Creditors
- D.
Farmers
Correct Answer
C. Creditors -
- 5.
Many national banks were_________ into accepting the special privilege of the bank holidays.
Correct Answer
coerced
coerce
forced - 6.
How much did production fall from 1929 to 1933?
- A.
15 percent
- B.
26 percent
- C.
40 percent
- D.
53 percent
Correct Answer
D. 53 percent -
- 7.
How did REAL wage rates change from 1929 to 1933
- A.
They fell 23 percent
- B.
They fell 5.5 percent
- C.
They remained flat
- D.
They rose 7.5 percent
Correct Answer
D. They rose 7.5 percent -
- 8.
What was the average work-week in 1932?
- A.
32 hours
- B.
40 hours
- C.
48 hours
- D.
70 hours
Correct Answer
A. 32 hours -
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Mar 20, 2022Quiz Edited by
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Jan 25, 2009Quiz Created by
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