AnswersCR27 US History-2100310-S1-MeadowsBoom and Bust

Boom and Bust Answers

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During which decade did an economic boom and bust occur in the United States?

A
1900s
B
1910s
C
1920s
D
1930s
2
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Which best explains why people failed to make their promised payments on items during the 1920s?

A
They bought too little.
B
They bought too much.
C
They bought on margin.
D
They speculated.
3

How did many banks fail consumers in the stock market crash of 1929?

A
Banks had invested customer savings in the stock market, losing depositors’ money in the crash.
B
Banks refused to pass on profits made in the stock market to depositors, keeping the money.
C
Banks refused to issue loans to help investors pay for their financial losses in the crash.
D
Banks only paid a small portion of insurance owed to depositors for their financial losses.
4

In the 1920s, what did businesses and industries do that caused the economy to slow down?

A
They hired more workers.
B
They speculated in the stock market.
C
They bought stocks on margin.
D
They overproduced goods.
5

How did consumers weaken the economy in the late 1920s?

A
Consumers only bought a limited number of products.
B
Consumers bought too many goods they could not afford.
C
Consumers refused to pay high prices for agricultural goods.
D
Consumers increased their spending and only used cash.
6

What role did consumers play in slowing the economy down in the 1920s?

A
Consumers demanded fewer goods.
B
Consumers demanded more goods.
C
Consumer demanded less expensive goods.
D
Consumer demanded better-made goods.
7

When banks closed as a result of the financial crisis of the Great Depression, depositors

A
were given stock shares instead of cash in compensation.
B
could retrieve the money from their accounts before closure.
C
lost any savings they had kept at a closed bank.
D
could recover their savings from the government.
8

During the 1920s, buying stock on credit was called

A
buying on speculation.
B
buying on a gamble.
C
buying on margin.
D
buying on margin call.
9

To meet demand in the early 1920s, businesses and industries produced

A
fewer goods that were more expensive.
B
more goods that were less expensive.
C
fewer goods with less government regulation.
D
more goods with more government regulation.
10

Which best explains how the overproduction of goods in the 1920s affected consumer prices and the economy?

A
Prices fell as consumer demand increased, and the economy grew.
B
Prices increased along with consumer demand, and businesses prospered.
C
Prices fell as consumer demand decreased, and the economy slowed down.
D
Prices increased but consumer demand decreased, and the economy grew.

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