AnswersMI-US History A-CRUnit Test

Roaring Economy to Great Depression Answers

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1
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What is consumerism?

A
a pattern of wanting and buying new products
B
a pattern of saving most of one’s money
C
a pattern of raising prices on store-bought goods
D
a pattern of lowering prices on farm-produced goods
2
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While consumerism during the 1920s boosted the economy, it also led to

A
more savings.
B
higher debt.
C
lower debt.
D
fewer stocks.
3

In the 1920s, how did manufacturers make products faster and more cheaply?

A
They reused old designs and models.
B
They offered a smaller range of goods.
C
They saved on costs by not advertising as much.
D
They adopted Henry Ford’s manufacturing techniques.
4

What effect did the overuse of credit have on the economy in the 1920s?

A
It made the economy stronger.
B
It made the economy weaker.
C
It made parts of the economy stronger.
D
It solved the problem of overproduction.
5

Which statement best explains how farming affected the economic slowdown that led to the Great Depression?

A
High demand was met with high output.
B
Produce prices were constantly rising.
C
Large machines made farms more efficient.
D
Even though prices and demand were falling, production increased.
6

In the 1920s, the danger of buying stock on margin was that if the value of the stock dropped, borrowers

A
had to make up the difference.
B
lost ownership of the stock.
C
could no longer speculate on stock.
D
could no longer get credit.
7

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 goods.
D
Consumers increased their spending and used only cash.
8

In the 1920s, many rural banks failed because

A
banks had speculated in stocks.
B
farmers could not repay their loans.
C
the stock market surged.
D
consumers took their money out.
9

What does a strong economy depend on the most?

A
many investors speculating.
B
many banks giving many people loans.
C
most consumers buying on credit.
D
most people’s confidence in the economy.
10

Which statement best explains how manufacturers contributed to the economic slowdown that led to the Great Depression?

A
They were overproducing goods.
B
They were not meeting consumer demands.
C
They were charging high prices for their products.
D
They were unable to pay back loans borrowed from banks.

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