Economic History: Checkpoint 1

Covers the Great Depression, Bretton Woods, and the 2008 financial crisis.

Five questions on two of history’s most consequential economic crises and the system built to prevent a repeat.

Question 1 of 5 A 'bank run' during the Great Depression happened because:

Banks refused to open Depositors, fearing failure, rushed to withdraw funds all at once The government closed all banks by law Interest rates were too high

Question 2 of 5 The Bretton Woods system, created in 1944, established:

Floating exchange rates for every currency Fixed exchange rates, with the US dollar pegged to gold A single global currency A ban on international trade

Question 3 of 5 The Bretton Woods conference is also the origin of:

The G20 The IMF and the World Bank BRICS The gold standard's original creation

Question 4 of 5 A 'subprime mortgage' is a home loan:

Available only to borrowers with excellent credit Extended to a borrower with a weaker credit history, at a higher rate Guaranteed by the World Bank That cannot be resold to investors

Question 5 of 5 'Too big to fail' describes a situation where:

A company is too small to matter to the economy A financial institution is so large and interconnected that its failure could damage the whole system A bank has too many branches A country's currency has collapsed

← Back to The 2008 Financial Crisis Next lesson → The COVID Economy

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