America's Great Depression Chapter 12
8 Questions
| Total Attempts: 119
This is a 10-question quiz on Chapter 12: The Close of the Hoover Term of America's Great Depression by Murray Rothbard.
Questions and Answers
- 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.
- 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
- 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
- 4.Whose property rights came under attack as a result of the depression?
- A.
Land owners
- B.
Debtors
- C.
Creditors
- D.
Farmers
- 5.Many national banks were_________ into accepting the special privilege of the bank holidays.
- 6.How much did production fall from 1929 to 1933?
- A.
15 percent
- B.
26 percent
- C.
40 percent
- 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
- 8.What was the average work-week in 1932?
- A.
32 hours
- B.
40 hours
- C.
48 hours
- D.
70 hours
Due to the fall down of the banking system in the United States, every citizen suffered the consequences of the Great Depression. It began in 1929 when the whole U.S. economy went into recession. There was a rise in...
Questions: 10 | Attempts: 1526 | Last updated: Jun 23, 2019
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Sample QuestionWhat did many politicians and economists find surprising about 1931?
The great depression began in 1929 when the whole U.S. Economy went into recession. There was a rise in unemployment, poverty, low income, and deflation. Due to the fall down of the banking system in the United States, every...
Questions: 25 | Attempts: 1039 | Last updated: Nov 16, 2020
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Sample QuestionIn the Introductions, what does Paul Johnson say was the orthodox explanation for the worldwide economic contraction of the 1930s?
This quiz is about the Great Depression during the 1930s and its effects on the League of Nations. The Great Depression's timing varied in countries, in some countries it started in early 1929 and lasted to the end of 1930,...
Questions: 7 | Attempts: 506 | Last updated: Nov 16, 2020
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Sample QuestionWhat caused the Great Depression?
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