AnswersEAP-Virginia and US History B CRRoaring Economy to Great Depression

Roaring Economy to Great Depression Answers

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1
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During the 1920s, people would buy stock on margin, which meant that they

A
bought it on credit.
B
paid cash for it.
C
paid in installments.
D
bought it on speculation.
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

How did the overproduction of goods in the 1920s affect consumer prices, and in turn, the economy?

A
Consumer demand increased, prices decreased, and the economy grew.
B
Prices increased along with consumer demand, and the economy grew.
C
Consumer demand decreased, prices decreased, and the economy slowed.
D
Prices increased, consumer demand decreased, and the economy grew.
4

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.
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, 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.
7

Which industry boosted consumerism in the 1920s, feeding economic growth?

A
advertising
B
electricity
C
farming
D
manufacturing
8

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.
9

A part of the consumerism cycle is that manufacturers

A
do not advertise goods.
B
sell goods only for cash.
C
advertise goods.
D
make fewer goods.
10

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
11

Which of the following best explains what happens when consumers think the economy is struggling?

A
People spend more, businesses produce less, and unemployment rises.
B
People spend more, businesses produce a lot, and unemployment is low.
C
People spend less, businesses produce too much, and unemployment is low.
D
People spend less, businesses produce less, and unemployment rises.
12

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.
13

Businesses and industries in the 1920s most closely followed the buying demands of

A
government.
B
farmers.
C
consumers.
D
manufacturers.
14

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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