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The Great Depression and the New Deal: Paper 4
The Great Depression and the New Deal: Paper 4
Ten error-clinic items: percentage falls, real debt under deflation, labour force, the multiplier, relative fall and compound growth.
Direct answers Items 1-3: 89.2, 25 and 45.6 per cent. Items 4-6: 133.3 dollars, 52 million, 4.2 billion. Items 7-9: 8 points and 32 per cent, 8.2 per cent, bank runs. Item 10: private property unchanged.
01 Paper details (check answers afterwards)
| Item | Detail |
|---|---|
| Questions | 10 |
| Suggested time | 20 |
| Difficulty mix | Foundation 3 · Intermediate 3 · Challenge 3 · Error redo 1 |
| Chapter | Chapter: The Great Depression and the New Deal |
| Level | Error clinic |
02 Questions (10 items)
- FoundationError clinic: the Dow fell from 381 in 1929 to 41 in 1933. What was the percentage fall?
- FoundationError clinic: the price index fell from 80 to 60. By what percentage did prices fall?
- FoundationError clinic: nominal GNP fell from 103.6 billion to 56.4 billion dollars. What was the fall?
- IntermediateError clinic: with the price index falling from 80 to 60, what is the real burden of a 100 dollar debt?
- IntermediateError clinic: about 13 million people were unemployed in 1933, a rate of 25 per cent. What was the labour force?
- IntermediateError clinic: government spending rises by 3 billion dollars and the multiplier is 1.4. How much does total demand rise?
- ChallengeError clinic: unemployment fell from 25 to 17 per cent. How many percentage points, and what was the relative fall?
- ChallengeError clinic: GNP rose from 56.4 to 90.4 billion dollars over six years. What is the annual compound growth rate?
- ChallengeError clinic: after a four-day bank holiday in March 1933 the Emergency Banking Act was passed. What problem did it mainly address?
- Error redoError clinic: someone claims the New Deal was socialism. What is wrong with that?
03 Answers and one-line notes
| # | Answer | One-line note |
|---|---|---|
| 1 | 89.2 per cent | Subtract 41 from 381 to get 340, then divide by 381; the answer is not 41 per cent. |
| 2 | 25 per cent | The fall is 20 divided by the original level of 80. |
| 3 | 45.6 per cent | The drop is 47.2 billion, divided by 103.6 billion. |
| 4 | 133.3 dollars | Deflation raises the purchasing power of money, so the real burden of the debt grows. |
| 5 | 52 million | Divide 13 million by 0.25; dividing 13 million by the result returns 25 per cent. |
| 6 | 42.0 billion dollars | Multiply 3 billion by 1.4; the multiplier exceeds one because income is respent. |
| 7 | 8 percentage points, 32.0 per cent | Subtract the rates for percentage points; divide the change by the original 25 per cent for the relative fall. |
| 8 | 8.2 per cent | Take 90.4 over 56.4, find the sixth root, then subtract one; it is not a simple average. |
| 9 | bank runs and collapsed confidence | The holiday plus inspection let sound banks reopen and restored depositors confidence. |
| 10 | wrong: private property and the market economy remained | The New Deal was state intervention and relief, not public ownership of production. |
04 What to do after marking
- After marking, redo only the wrong items and write down which step went wrong (formula, unit, or misread number).
- Repeat the same item two days later; move to the next paper only when both attempts are correct.
- Parents only need the answer and note columns; there is no need to explain every item.
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