U.S. History : Middle School: Grades 6, 7 and 8 Quiz - USA: 1919-1932 - The Wall Street Crash And The Depression (Questions)

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Wall Street was the center of finance in the USA but when the New York Stock Exchange spiraled out of control in October 1929, investors saw the price of shares crash to new lows and many small investors were ruined. The immediate effects included bank closures, reduced production and factory closures - leading to a massive rise in unemployment and the start of the Great Depression.

Discover more about the Wall Street crash and the Great Depression in this quiz.

1. What name is given in stock exchange parlance to a period of sustained share price rises?
[ ] A bull market
[ ] A pork barrel market
[ ] A bear market
[ ] An ox market
2. The New York Stock Exchange had seen prices rise tenfold over the past nine months. What is the New York share index called?
[ ] The FTSE
[ ] The Dow Jones
[ ] The Nikkei
[ ] The Han Seng
3. President Herbert Hoover urged patience and foresaw the US economy returning to its recent prosperity. Above all he refused to let the state intervene in the crisis. His personal homespun recommendation consisted of two words: what were they?
[ ] Non-Intervention
[ ] Rugged Individualism
[ ] Free Markets
[ ] Robust Capitalism
4. Hoover did, however, support a tariff measure introduced in 1930 to Congress by two Republicans who gave their names to the Act. What was it called?
[ ] The Stogumber-Wallace Tariff
[ ] The Smoot-Hawley Tariff
[ ] The Morse-Wainright Tariff
[ ] The Harding-Coolidge Tariff
5. What were "Hoovervilles"?
[ ] Brand new federal housing for the unemployed, initiated by Hoover
[ ] Shacks erected by the homeless unemployed, to draw attention to their plight
[ ] A name conjured by Democrats to describe the leafy suburbs of US cities, largely inhabited by Republican voters
[ ] New housing provided by the governors of Democrat-controlled states
6. On what forms of benefit could unemployed people depend?
[ ] Federal handouts
[ ] Handouts from the state where they lived
[ ] Handouts from charities like the Salvation Army
[ ] A scheme run by the US Army for Great War veterans
7. In 1932 Hoover relented further by approving the Emergency Relief and Reconstruction Act, which provided $300 million to deal with distress. To which body were applicants told to apply?
[ ] The Federal Government in Washington
[ ] The state where they lived
[ ] The local Episcopalian Church authorities
[ ] The local police force
8. How many unemployed were there in the US at the worst point in the Depression?
[ ] 13 million
[ ] 10 million
[ ] 6 million
[ ] 8 million
9. In 1932 General MacArthur was ordered to disperse camps set up by Bonus Marchers in Washington. What bonus were the marchers seeking?
[ ] A payment to unemployed men over 50 authorized by the local state governor
[ ] A payment promised by Congress to army veterans from the Great War
[ ] A normal payment for which ex-bankers were eligible
[ ] A payment to which people who had been continuously unemployed for more than four years were entitled. Provided by the Federal Government
10. Another of Hoover's eventual interventions to ease conditions in the Depression was the use of the Federal Farm Board. What did the Board attempt to do under his presidency?
[ ] Stabilize prices, promote the sale of agricultural products and provide storage space for any surplus
[ ] Repay existing farmers' loans
[ ] Offer interest free loans to enable farmers to expand their landholdings
[ ] Purchase farms at an agreed price, thus allowing farmers wanting to leave the land to do so
U.S. History : Middle School: Grades 6, 7 and 8 Quiz - USA: 1919-1932 - The Wall Street Crash And The Depression (Answers)
1. What name is given in stock exchange parlance to a period of sustained share price rises?
[ ] A bull market
[ ] A pork barrel market
[x] A bear market
[ ] An ox market
In 1929 share speculation intensified, but at the first sign of mass selling, panic set in. Prices crashed as investors struggled to sell their shares
2. The New York Stock Exchange had seen prices rise tenfold over the past nine months. What is the New York share index called?
[ ] The FTSE
[x] The Dow Jones
[ ] The Nikkei
[ ] The Han Seng
The share index is calculated on a daily basis, and normally it would gain or lose a small figure each day
3. President Herbert Hoover urged patience and foresaw the US economy returning to its recent prosperity. Above all he refused to let the state intervene in the crisis. His personal homespun recommendation consisted of two words: what were they?
[ ] Non-Intervention
[x] Rugged Individualism
[ ] Free Markets
[ ] Robust Capitalism
Hoover believed that it was best to leave well alone, and that things would sort themselves out independently
4. Hoover did, however, support a tariff measure introduced in 1930 to Congress by two Republicans who gave their names to the Act. What was it called?
[ ] The Stogumber-Wallace Tariff
[x] The Smoot-Hawley Tariff
[ ] The Morse-Wainright Tariff
[ ] The Harding-Coolidge Tariff
Hoover hoped to discourage foreign exports so that domestic industry could sell to the home market without undue competition
5. What were "Hoovervilles"?
[ ] Brand new federal housing for the unemployed, initiated by Hoover
[x] Shacks erected by the homeless unemployed, to draw attention to their plight
[ ] A name conjured by Democrats to describe the leafy suburbs of US cities, largely inhabited by Republican voters
[ ] New housing provided by the governors of Democrat-controlled states
Hoover learned that his name would grace projects whether he was responsible for them or not
6. On what forms of benefit could unemployed people depend?
[ ] Federal handouts
[ ] Handouts from the state where they lived
[x] Handouts from charities like the Salvation Army
[ ] A scheme run by the US Army for Great War veterans
Few unemployed people had much confidence that their needs would be met
7. In 1932 Hoover relented further by approving the Emergency Relief and Reconstruction Act, which provided $300 million to deal with distress. To which body were applicants told to apply?
[ ] The Federal Government in Washington
[x] The state where they lived
[ ] The local Episcopalian Church authorities
[ ] The local police force
By this time perhaps, Hoover was beginning to realize that the situation was more serious than he had thought
8. How many unemployed were there in the US at the worst point in the Depression?
[x] 13 million
[ ] 10 million
[ ] 6 million
[ ] 8 million
Multiply this figure by 4 or 5, and you get some idea of the total number of people caught up in the situation
9. In 1932 General MacArthur was ordered to disperse camps set up by Bonus Marchers in Washington. What bonus were the marchers seeking?
[ ] A payment to unemployed men over 50 authorized by the local state governor
[x] A payment promised by Congress to army veterans from the Great War
[ ] A normal payment for which ex-bankers were eligible
[ ] A payment to which people who had been continuously unemployed for more than four years were entitled. Provided by the Federal Government
MacArthur believed that the marches were organized by the American Communist Party, and he cleared their encampments with a certain enthusiasm
10. Another of Hoover's eventual interventions to ease conditions in the Depression was the use of the Federal Farm Board. What did the Board attempt to do under his presidency?
[x] Stabilize prices, promote the sale of agricultural products and provide storage space for any surplus
[ ] Repay existing farmers' loans
[ ] Offer interest free loans to enable farmers to expand their landholdings
[ ] Purchase farms at an agreed price, thus allowing farmers wanting to leave the land to do so
The farm problem had been a severe one since before the Crash. Here again, Hoover was relenting under great pressure