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