The Onset of the Great Depression

question 139

Multiple Choice

The onset of the Great Depression:

• A)was not a shock to anyone, since most economists predicted the roaring '20s were bound to end in disaster.
• B)caused a disagreement between the Hoover administration and conventional economists because Hoover wanted the government to intervene much more quickly than most others.
• C)came as a considerable shock to the conventional wisdom of economics at that time and opened the door for critiques of mainstream thought by economists like John Maynard Keynes.
• D)was in 1918 at the end of World War I.

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Definitions:

Informal Punishment

Involves a mild sanction that is imposed during face-to-face interaction, not by the judicial system.

Formal Punishment

Sanctions or penalties that are officially imposed by a governing body or authority as a response to rule or law violations.

Social Life

The part of an individual's life that involves interaction with others in society, including participation in social activities and events.

Stable

Characterized by consistency, reliability, and lack of volatility, often used to describe economic, environmental, or psychological conditions.