The Collapse of the U

question 20

Multiple Choice

The collapse of the U.S. stock market triggered a global depression because

• A) the U.S. had financed postwar economic growth by lending money for business development around the world
• B) the stock market is a global institution
• C) foreign governments had made major investments in the U.S. stock market
• D) it prompted the adoption of mercantilist policies in the U.S.

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Definitions:

Common Law

A legal system based on customs, judicial decisions, and precedent rather than written laws; prevalent in the UK and former British colonies.

Statutory Law

Law enacted by a legislative body, such as statutes passed by Congress or a state legislature.

Legislative Statute

A law enacted by a legislative body, setting forth general principles and provisions regarding specific matters.

Wright Line

A legal test used in labor law to determine if an employer's action against an employee was motivated by anti-union sentiment.