HIUS 360 Quiz Progressive Catastrophe

HIUS 360 Quiz: Progressive Catastrophe and Depression

1. According to economist Milton Friedman, the late 1920s saw a 30 percent drop in the money supply, leading to the periods labeling as ________________________.
2. The United States does not posses an authentic socialist tradition.
3. The market contraction that caused the Great Depression began in 1929 and continued almost uninterrupted until _____________.
4. As demonstrated by _______________ in the early days of the Bell Telephone Company, market dominance imposes blinders on the potential for new technology for companies that achieve a certain corporate comfort level.
5. The Great Depression was an economic phenomenon as it occurred first in the United States and spread to other parts of the word through trade and finance.
6. The Hoover administration encouraged businesses to maintain set wages, leaving employers to pay fewer workers more as opposed to paying more workers less, further contributing to the increasing rate of unemployment.
7. The economic policy under the Herbert Hoover administration was one of non-intervention, giving him the moniker of a “do-nothing” President.
8. Keynesian is rooted in the belief that the common man knows how to best handle economic change and produce economic prosperity.
9. In which decade did the United States government most heavily regulate the national economy?
10. The United States has never had a ___________________.