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Business & EconomicsMedium

Great Economic Crises

Black Thursday on October 24, 1929 kicks off the Great Depression, Roosevelt launches the New Deal in 1933. Lehman Brothers collapses on September 15, 2008, triggering the subprime crisis. 15 questions.

15

Questions

2

Minutes

Tip: Use keys 1-4 to answer quickly

The 15 quiz questions

Question 1 : What day is nicknamed "Black Thursday" in American stock market history?

Possible answers:

  • 9 août 2007
  • 15 septembre 2008
  • 19 octobre 1987
  • 24 octobre 1929

Explanation: On October 24, 1929, the New York Stock Exchange collapsed, marking the beginning of the Great Depression. This day is known as "Black Thursday."

Question 2 : Which American bank went bankrupt in September 2008, triggering the global financial crisis?

Possible answers:

  • Lehman Brothers
  • Bear Stearns
  • Goldman Sachs
  • Morgan Stanley

Explanation: The bankruptcy of Lehman Brothers on September 15, 2008, was the largest bankruptcy filing in American history and triggered the global financial crisis.

Question 3 : What is the name of the American real estate crisis of 2007-2008?

Possible answers:

  • Crise des subprimes
  • Crise asiatique
  • Crise des dotcoms
  • Crise pétrolière

Explanation: The subprime crisis takes its name from the risky subprime mortgages granted to borrowers with poor creditworthiness.

Question 4 : Which American president launched the New Deal to emerge from the Great Depression?

Possible answers:

  • Herbert Hoover
  • Dwight Eisenhower
  • Franklin D. Roosevelt
  • Harry Truman

Explanation: Franklin D. Roosevelt launched the New Deal in 1933, a set of programs to revive the American economy after the 1929 crisis.

Question 5 : Which European country experienced a severe debt crisis starting in 2010?

Possible answers:

  • Greece
  • Portugal
  • Espagne
  • Irlande

Explanation: Greece revealed in 2010 a deficit much larger than announced, triggering a debt crisis that threatened the eurozone.

Question 6 : What 1973 event caused the first oil shock?

Possible answers:

  • The Iranian Revolution
  • The Suez Crisis
  • The Yom Kippur War
  • The Vietnam War

Explanation: The Yom Kippur War (October 1973) led Arab OPEC countries to decree an oil embargo, quadrupling the price per barrel.

Question 7 : What is the name of the stock market crash of October 19, 1987?

Possible answers:

  • Vendredi noir
  • Mardi noir
  • Lundi noir
  • Dimanche noir

Explanation: "Black Monday" saw the Dow Jones lose 22.6% in a single day, the largest percentage drop in history.

Question 8 : What is a "speculative bubble"?

Possible answers:

  • An overvalued company
  • An excessively rising market
  • A variable rate loan
  • A currency with high inflation

Explanation: A speculative bubble occurs when asset prices deviate from their real value due to speculation, before bursting suddenly.

Question 9 : Which crisis erupted in Asia in 1997?

Possible answers:

  • The Hong Kong crisis
  • The Asian financial crisis
  • The Asian dragon crisis
  • The yen crisis

Explanation: The Asian financial crisis of 1997 began in Thailand with the collapse of the baht, before spreading to all of Southeast Asia.

Question 10 : What term refers to a company "too big to fail"?

Possible answers:

  • Too large to crash
  • Too strong to fall
  • Too massive to collapse
  • Too big to fail

Explanation: "Too big to fail" refers to financial institutions whose failure would have systemic consequences, justifying government intervention.

Question 11 : What is "quantitative easing" used after 2008?

Possible answers:

  • A reduction in public spending
  • Money creation by the central bank
  • A decrease in interest rates
  • A tax increase

Explanation: Quantitative easing is a monetary policy where the central bank buys financial assets to inject liquidity into the economy.

Question 12 : Which speculative bubble burst in 2000-2001 in the United States?

Possible answers:

  • The tulip bubble
  • The oil bubble
  • The housing bubble
  • The dot-com bubble

Explanation: The Internet bubble (or dotcom bubble) burst in March 2000, leading to the collapse of many overvalued technology companies.

Question 13 : Which country experienced famous hyperinflation in the 1920s?

Possible answers:

  • Italie
  • Royaume-Uni
  • France
  • Allemagne

Explanation: Weimar Germany experienced extreme hyperinflation in 1923, when wheelbarrows of banknotes were needed to buy bread.

Question 14 : Which international organization was created after World War II to stabilize the economy?

Possible answers:

  • The OECD
  • The IMF
  • The WTO
  • The ECB

Explanation: The IMF (International Monetary Fund) was created in 1944 during the Bretton Woods agreements to ensure the stability of the international monetary system.

Question 15 : Which global economic crisis was triggered by the COVID-19 pandemic in 2020?

Possible answers:

  • The Great Recession
  • The COVID-19 recession
  • The health crisis
  • The global depression

Explanation: The COVID-19 recession (sometimes called the "Great Lockdown" by the IMF) caused a 3.1% drop in global GDP in 2020, the sharpest contraction since World War II, due to lockdowns and supply-chain disruptions.

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