1. 1. When the stock market does well for a long period of time, this is called a ______. A) black market B) open market C) bull market D) bear market

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3. 2. In 1928, Americans thought Hoover would be a good President for all reasons except _____. A) he supported American businesses B) he supported low taxes for Americans C) he was a Republican and a good businessman D) he supported low tariffs

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5. 3. The total value of all goods, services, and structures produced in a country is _____. A) net worth B) Gross Domestic Product GDP C) income tax D) business cycle Representation of the World’s GDP.

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7. 4. The Business Cycle repeats throughout history and has ______ parts. A) 5 B) 6 C) 3 D) 2

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9. 5. When many depositors withdraw their money at one time, it is called a _______. A) Bear Market B) Stock Market Crash C) Bank Run D) Margin Call

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11. 6. One factor that hurt American businesses during the Great Depression was ______. A) luxury tax B) too many credit cards C) too many buyers D) overproduction and few consumers

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13. 7. Uneven distribution of wealth means _________. A) laws are unfair for the poor B) the government collects high taxes C) few people control most of the nation’s money D) people use credit too often

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15. 8. What was the impact of the Hawley-Smoot Tariff? A) imports became cheaper B) it made it difficult for U.S. products to be sold overseas C) foreign companies loved this D) Americans wanted to buy foreign goods

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17. 9. An import is a good that America _________. A) made in another country B) has shipped to another country C) has sold to a foreign country D) has bought from another country

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19. 10. Most banks are ___________. A) privately owned B) owned by the U.S. government C) owned by the states D) located on Wall Street

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21. 11. The two jobs of the Federal Reserve are to print money and __________. A) make loans to American citizens B) collect taxes C) conduct monetary policy D) tax the public

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23. 12. The Federal Reserve can hurt the economy by keeping interest rates low for all the following reasons except _________. A) encouraged the banks to make risky loans B) kept people from buying C) led businesses to expand in an unstable economy D) led to overproduction

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25. 13. Banks used to be able to invest the depositors’ money in __________. A) fifty-fifty drawings B) games of chance C) the stock market D) lottery tickets

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27. 14. All were causes of the Great Depression except ________. A) banks closing and loss of faith in banks B) mistakes by the Federal Reserve C) loss of export sales D) we didn’t have a central bank

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29. 15. When a bank or the government seizes property because the owner is not making payments, this is a _______. A) bank run B) foreclosure C) crying shame D) mortgage call

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31. 16. The lowest point of the business cycle before expansion begins is ___________. A) trend line B) trough C) peak D) expansion

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33. 17. Hoover believed in the Reconstruction Finance Corporation and what other method to get Americans out of the Great Depression? A) help from the government B) welfare checks C) public works projects D) direct relief

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35. 18. The name of the group of veterans who wanted early payment on a bonus that was promised to them was the _______. A) Veterans Without Benefits B) Veterans of Foreign War C) Lost Battalion D) Bonus Army

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37. 19. “Two or three blocks along Times Square, you’d see these men, silent, shuffling along in a line, Getting this handout of coffee and doughnuts, dealt out from great trucks…I’d see that flat, opaque, expressionless look which spelled, for me, human disaster.” What can you infer from this passage? A) someone is handing out free samples B) the men are lost C) the men feel hopeless D) the men are policemen who like donuts

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39. 20. Men…who had responsible positions. Who had lost their jobs, lost their homes, lost their families…They were destroyed men.” What can you infer? A) the men are no longer responsible B) the men lost much of what was important to them C) the men were divorced D) the men were on vacation from their jobs

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41. 21. What can you infer from this picture? A) it was difficult to find building materials B) people chose to live like this because they were lazy C) new neighborhoods were being built outside cities D) homelessness was a common problem

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43. 22. What is ironic about this picture? A) the people are no longer enjoying a high standard of living in the US B) the car is old and the people are still happy C) there are too many people crowded into this car D) no one wears hats like these

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45. 23. Why do you think men would ride the rails during the Great Depression? A) they felt the railroads owed them free rides B) it was a cheap thrill C) they were going from town to town looking for work D) for a free vacation

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