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The Wall Street Crash and Its Impact Quiz

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The Wall Street Crash and Its Impact Quiz

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Questions and Answers

What did the Wall Street Crash reveal about laissez-faire economics?

Its ability to ensure equitable opportunities

Its limitations in preventing economic collapse (correct)

Its success in preventing widespread unemployment

Its effective management of economic crises

What impact did the Great Depression have on confidence in capitalist models?

Profound doubts about their effectiveness and stability (correct)

Confirmation of their equitable opportunities

Renewed trust in unregulated capitalism

Increased confidence in their ability to provide stability

What effect did the economic distress of the Great Depression have on democratic governments?

Enhanced trust in their ability to provide effective solutions

Demonstrated their immunity to criticism

Confirmed their success in preventing economic downturns

Raised skepticism about their capacity to manage severe economic crises (correct)

What vulnerability of laissez-faire economics did the Wall Street Crash expose?

Unchecked markets failed to prevent economic collapse Signup and view all the answers

What was one of the consequences of the failure of capitalism?

Rise of alternative ideologies like communism Signup and view all the answers

What did the Glass-Steagall Act aim to achieve?

Separation of commercial and investment banking Signup and view all the answers

What was the purpose of social security programs introduced during the reforms?

Provide unemployment benefits, welfare, and retirement pensions Signup and view all the answers

What did the Great Depression prompt in terms of economic policies and government intervention?

Reconsideration of economic ideologies and emphasis on responsible regulation Signup and view all the answers

What did the failure of capitalism lead to in terms of the global discourse on economic governance?

Alteration of the global discourse on economic governance Signup and view all the answers

What was the aim of labor protections introduced during the reforms?

Safeguard workers' rights and improve labor conditions Signup and view all the answers

What did the crisis lead to in terms of the role of government in regulating markets?

Reevaluation and emphasis on government intervention Signup and view all the answers

What was the legacy of the Great Depression in relation to economic policies?

Influenced economic policies and emphasized responsible regulation Signup and view all the answers