America's Great Depression Chapter 12
8 Questions
| Total Attempts: 118
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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
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