America's Great Depression Chapter 8

7 Questions | Total Attempts: 188

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United States Quizzes & Trivia

This is a 10-question quiz on Chapter 8: Prelude to Depression: President Hoover Takes Command of America's Great Depression by Murray Rothbard.


Questions and Answers
  • 1. 
    Who declared: "President Hoover was the first President in our history to offer Federal leadership in mobilizing the economic resources of the people.”
    • A. 

      Karl Marx

    • B. 

      The New York Times

    • C. 

      The Wall Street Journal

    • D. 

      His biographers

  • 2. 
    What did Herbert Hoover call those who advocated laissez-faire policies in response to the crisis?
    • A. 

      Libertarian lunatics

    • B. 

      Leave-it-alone liquidationists

    • C. 

      Heartless bastards

    • D. 

      Conservative cowards

  • 3. 
    What was the date of Black Thursday crash that heralded the arrival of the Great Depression?
    • A. 

      October 24, 1929

    • B. 

      October 29, 1929

    • C. 

      October 31, 1931

    • D. 

      December 7, 1941

  • 4. 
    What was the significant factor in Federal reserves given that they only decreased by about one percent at the end of 1929?
    • A. 

      Most of the gold had been sold.

    • B. 

      None of the reserves belonged to member banks.

    • C. 

      There was a qualitative shift from uncontrolled to controlled reserves.

    • D. 

      Most of the reserves were leveraged stocks.

  • 5. 
    To whom did President Hoover send a telegram urging the cooperative expansion of public works programs?
    • A. 

      The American public.

    • B. 

      Construction industry executives.

    • C. 

      The Congress.

    • D. 

      The state governors.

  • 6. 
    According to Rothbard, the New Deal program of farm subsidies, characterized especially by farm price supports, arrived in the United States under the _________ administration.
  • 7. 
    The governor of which state announced a halt to all farm foreclosures in 1933?
    • A. 

      Iowa

    • B. 

      Minnesota

    • C. 

      North Dakota

    • D. 

      South Dakota