Question

95. Which of the following is false?

a. During the depression of 1920-1921, the Federal Reserve district banks set their own interest rate policies, but they mostly followed the lead of the New York bank.

b. One reason why there was little government intervention in the economy during the depression of 1920-1921 was because President Wilson had suffered a stroke.

c. The Great Depression began with the stock market crash of 1929.

d. Before Hoover was president he had been the Secretary of Commerce under Presidents Harding and Coolidge.

e. As Smiley notes, “Despite fears, increased reliance on government and decreased reliance on markets proved effective.”

104. When the Supreme Court ruled that the NRA and AAA were unconstitutional, President Roosevelt responded by:

a. proposing that additional justices be appointed to the court.

b. calling for the impeachment of the justices on the court.

c. firing all but one of the justices of the Supreme Court.

d. refusing to allocate any federal monies to fund the Supreme Court.

e. All of the above.

105. Instead of drifting back into a prolonged depression following the end of World War II, what happened from 1945 to 1947 that fueled American prosperity?

a. Millions of women left the labor force as millions of men re-entered.

b. Millions of non-manufacturing jobs were created as real wages fell.

c. Private sector investment boomed as government deficits shrank.

d. Exports grew, further stimulating American production.

e. All of the above.

Answer 1

95 Option E is False

As Smiley notes, “Despite fears, increased reliance on government and decreased reliance on markets proved effective.This statement is false. Rest all statements are true.During great depression markets fell by 50% and corporate profits fell by 90%.

104 Opinion A

proposing that additional justices be appointed to the court.

In the wake of Supreme Court decisions that declared key pieces of New Deal legislation unconstitutional, Roosevelt proposed increasing the number of justices. If a justice did not retire at age seventy, the President could appoint an additional justice up to a maximum of six.

105 Option E

All of above

The war's effects were varied and far-reaching. The war decisively ended the depression itself. The federal government emerged from the war as a potent economic actor, able to regulate economic activity and to partially control the economy through spending and consumption.The industrial sector grew. Women left labor force due to family commitments. The GDP rose resulting in economic growth