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Great Depression vo.

stock speculation "buying on margin"; investors borrow money to buy stock hoping that stock prices increases will pay off the loan
Federal Reserve Bank bankers' bank; prints money and raise or lower intrest rates to either encourage or discourage borrowing by banks, businesses, and consumers
Smoot-Hawley Tarrif taxes on imported goods voted on by Congress to protect American businesses from competition with other companies; discouraged int'l trade which created a worldwide economic depression
business and bank failures these companies fail when they can no longer make a profit because they invested their profits unwisely or there is little demand for their products
unemployment the rate or percentage of qualified people willing to work but cannot find a job because the economy provides no work for them
hunger and homelessness during the Great Depression many people stood in breadlines for free food or lived in shacks made from discarded items
farm foreclosures many farms were taken from farmers by banks because prices for farm products were low and when farmers' incomes dropped they couldn't repay their loans
Social Security pension given to American workers who have paid a tax on their wages so that they have an income after they retire
work relief New Deal programs like the CCC which gave people government jobs
environmental improvement New Deal programs like the CCC had workers plant trees, build levees for flood control, and improve national parks
farm assistance New Deal programs like the AAA helped raise prices for farm products by paying farmers to leave some of their land uncultivated, to destroy some crops, milk, and livestock
labor rights Fair Labor Standards Act set a minimum wage for workers and abolished child labor; Wagner Act guaranteed workers the right to form unions and to bargain collectively with employers
Created by: jenschu on 2013-02-10

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