Great Depression Vs. Great Recession

2.

The _________ Cycle (Consumers had no money to purchase goods and services so industries responded to lower demand with less supplied services/goods) was also another cause of the Great Depression

3.

What is shown in the above picture?

Bank Run
Bank Burning
Black Friday at Target
Black Market

Correct Answer

A. Bank Run

Explanation

The picture shows a large crowd of people rushing towards a bank, indicating a bank run. A bank run occurs when a large number of customers withdraw their deposits from a bank due to fears of the bank's insolvency or financial instability. The image captures the panic and urgency associated with a bank run, as people try to secure their money before the bank potentially collapses.

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4.

What was the unemployment rate during the Great Depression? It was _____ %

Correct Answer
twentyfive
twenty five
25

5.

FDR and Obama both represent, with their hands-on apprached to the economies problems, a shift towards

Classical Economics
Keynesian Economics

Correct Answer

A. Keynesian Economics

Explanation

FDR and Obama's hands-on approach to the economy suggests a shift towards Keynesian Economics. This economic theory advocates for government intervention in the economy through fiscal policies such as increased government spending and tax cuts to stimulate economic growth and reduce unemployment. Both FDR and Obama implemented policies that aligned with Keynesian principles, such as the New Deal and the American Recovery and Reinvestment Act, respectively. This approach contrasts with Classical Economics, which emphasizes limited government intervention and relies on market forces to regulate the economy.

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0

6.

Which of the following are causes of the current Recession?

High Interest Rates
Escalating Rate of Foreclosure
George Bush
Too Many Economics Worksheets stapled together (Not Packets)
A&B

Correct Answer

A. A&B

Explanation

The current recession can be caused by high interest rates and escalating rates of foreclosure. High interest rates make borrowing more expensive, which can lead to decreased consumer spending and investment. Escalating rates of foreclosure indicate a decline in the housing market, which can have a ripple effect on the overall economy. While George Bush's actions may have had some impact on the economy, it is not specified in the question and cannot be assumed as a cause. The option "Too Many Economics Worksheets stapled together" is not a plausible cause for a recession.

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7.

One key difference between FDR and Obama was that FDR had to create his own agencies with his New Deal, whereas Obama was only _______ those agencies already set in place by FDR.

Correct Answer
fixing
repairing
restoring
redoing

Explanation
FDR had to create his own agencies with his New Deal, whereas Obama was only fixing, repairing, restoring, or redoing those agencies already set in place by FDR. This suggests that FDR had to establish new government organizations and programs as part of his economic recovery plan, while Obama focused on improving or addressing issues within the existing agencies and programs implemented by FDR.

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8.

During the Great Depression, speculation was placed merely on stocks, whereas now during the "Great Recession" speculation is placed on __________.

Correct Answer
mortgages
house mortgages
home mortgages
morgages
home morgages

Explanation
During the Great Depression, speculation was focused mainly on stocks as people invested heavily in the stock market, leading to its collapse. In contrast, during the "Great Recession," speculation shifted towards mortgages, specifically house mortgages or home mortgages. This refers to the risky practice of lending money to individuals who may not have been able to afford it, which contributed to the housing market crash and subsequent economic downturn.

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9.

How many months has the "Great Recession" lasted to date?

12
18
10
24
6

Correct Answer

A. 24

Explanation

The "Great Recession" refers to a severe global economic downturn that occurred from late 2007 to mid-2009. It is commonly accepted that the recession lasted for a total of 18 months. Therefore, the correct answer is 18.

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10.

What is the name given to the gatherings of shacks and shanty villages strewn across America during the Great Depression??

Correct Answer
Shanty towns
hoover viles
hoovervilles
hoover villes
hooverviles

Explanation
During the Great Depression, the gatherings of shacks and shanty villages across America were commonly referred to as "shanty towns" or "hoovervilles." These makeshift settlements were named after President Herbert Hoover, who was widely blamed for the economic crisis. The term "hoovervilles" was used to express the public's frustration and discontent with the government's handling of the situation. These settlements were characterized by extreme poverty, unemployment, and a lack of basic amenities.

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Great Depression Vs. "Great Recession"

Which of the following is not a cause of the Great Depression?

Quiz Preview

The _________ Cycle (Consumers had no money to purchase goods and services so industries responded to lower demand with less supplied services/goods) was also another cause of the Great Depression

What is shown in the above picture?

What was the unemployment rate during the Great Depression? It was _____ %

FDR and Obama both represent, with their hands-on apprached to the economies problems, a shift towards

Which of the following are causes of the current Recession?

One key difference between FDR and Obama was that FDR had to create his own agencies with his New Deal, whereas Obama was only _______ those agencies already set in place by FDR.

During the Great Depression, speculation was placed merely on stocks, whereas now during the "Great Recession" speculation is placed on __________.

How many months has the "Great Recession" lasted to date?

What is the name given to the gatherings of shacks and shanty villages strewn across America during the Great Depression??