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1. | Why did banks fail after October 1929?
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| A) Most of the people who kept their money in banks also bought stocks.
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| B) Banks had so much money available that the money declined in value.
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| C) Bank loans used in speculative stock purchases could not be repaid.
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| D) Banks were owned and operated by brokerage houses.
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2. | Why did October 29, 1929, become known as "Black Tuesday"?
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| A) On that was the day, investment bankers first recognized that the stock market was in trouble.
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| B) On that was the day, the stock market began a dizzying climb based on inflated stock prices.
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| C) That was the day the banks began closing.
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| D) That was the day the stock market crashed.
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3. | For a time before the Great Depression, consumer purchasing power was bolstered by installment buying. How did installment buying help consumers?
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| A) Consumers were able to buy products for reduced prices.
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| B) Consumers were able to buy low-cost items interest free.
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| C) Consumers were able to buy products by putting down some money and paying the rest in regular intervals.
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| D) Consumers could purchase products without making a down payment.
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4. | The Hawley-Smoot Tariff was passed by Congress and signed into law in 1930. Which of the following was characteristic of this bill?
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| A) It imposed the highest protective tariff in peacetime history.
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| B) It encouraged employment in America.
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| C) It opened foreign markets for raw agricultural products.
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| D) It had the backing of many leading economists and journalists in America.
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5. | Why was President Herbert Hoover reluctant to give government aid directly to the people in need during the Depression?
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| A) Hoover wanted to establish state socialism.
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| B) Hoover did not believe that the country was in a depression.
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| C) Hoover feared destroying the personal initiative of the people in need.
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| D) Hoover did not care about the needs of the American people.
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6. | What was the purpose of the Reconstruction Finance Corporation?
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| A) The RFC was set up to loan money to labor unions.
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| B) The RFC was set up to loan money to farmers.
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| C) The RFC was set up to make loans to railroads, insurance companies, banks, and state and local governments.
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| D) The RFC was set up to make loans to individuals.
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7. | Why did President Herbert Hoover withdraw American troops from Nicaragua?
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| A) to improve relations with Latin America
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| B) to support the Roosevelt Corollary to the Monroe Doctrine
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| C) to help settle a boundary dispute between Chile and Peru
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| D) to send the troops to other Latin American countries
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8. | Which of the following does NOT help explain President Herbert Hoover's failure in controlling the world's armaments?
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| A) fear of other nations
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| B) the activities of lobbyists
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| C) Hoover's attitude toward disarmament
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| D) lack of trust among the nations
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9. | The war debts of European nations continued to be a problem into the 1930s. To address it, President Herbert Hoover proposed a moratorium. What did he hope to accomplish by this moratorium?
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| A) reduce trade among countries
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| B) weaken the German economy so it could not wage war again
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| C) cancel German reparation payments to all the Allies
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| D) protect United States investments in Germany
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10. | Which of the following best explains the Hoover-Stimson Doctrine?
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| A) The United States would give economic and military assistance to any country protected by the Kellogg-Briand Pact that was attacked.
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| B) The United States promised support to Japan in its efforts to rule Manchuria.
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| C) The United States refused to recognize any territorial acquisition that violated the Kellogg-Briand Pact.
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| D) Manchuria should be governed by the Chinese rather than the Japanese.
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11. | Which of the following correctly describes public opinion in the early 1930s?
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| A) Americans wanted their government to intervene in the affairs of other countries.
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| B) Americans wanted to continue to defend the Philippines.
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| C) Americans wanted to avoid intervention in foreign affairs.
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| D) Americans wanted to make the Philippines a part of the United States.
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12. | Which of the following would NOT correctly describe the Depression period?
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| A) The Depression was a time when many companies and banks closed.
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| B) The Depression was a time when most Americans lost their jobs.
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| C) The Depression was a time when many people lost their homes.
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| D) The Depression was a time when most Americans had less money.
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13. | How did the Twentieth Amendment change the Constitution?
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| A) It prohibited the manufacturing, buying, and selling of liquor.
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| B) It repealed the Prohibition Amendment.
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| C) It changed Inauguration Day from March 4 to January 20.
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| D) It gave women the right to vote.
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14. | Why was President Herbert Hoover considered a lame-duck president?
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| A) The duck was a symbol of the political party that Hoover belonged to.
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| B) While waiting for Roosevelt to take office, Hoover had no constitutional power to make decisions.
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| C) He served only one term as president of the United States.
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| D) He had little influence because his term was about to end.
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15. | What predicament occurred in the early months of 1933 before Franklin D. Roosevelt took office?
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| A) The Bonus Army marched on Washington, D.C.
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| B) Japan attacked Pearl Harbor.
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| C) The entire banking system deteriorated.
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| D) Roosevelt was stricken with polio.
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