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Module 9 Vocab
| Question | Answer |
|---|---|
| Deflation | a decrease in general price level of goods and services |
| Price Support | the maintenance of a price at a certain level through government intervention |
| Credit | an arrangement in which a buyer pays for a purchase, often on an installment plan with interest charges |
| Alfred E. Smith | American politician who ran unsuccessfully for the presidency in 1928 as the Democratic candidate |
| Dow Jones Industrial Average | a measure based on the prices of the stocks of 30 large companies, widely used as a barometer of the stock markets health |
| Speculation | an involvement in risky business transactions in an effort to make a quick or large profit |
| Buying on margin | the purchasing of stocks by paying only a small percentage of the price and borrowing the rest |
| Black Tuesday | October 19th when the stock market crashed |
| Great Depression | An economic crisis grips the nation during the Great Depression. President Herbert Hoover’s conservative response to the nation’s problems costs him many supporters. |
| Hawley-Smoot Tariff Act | which established the highest protective tariff in U.S. history. It was designed to protect American farmers and manufacturers from foreign competition. |
| Breadline | a line of people waiting for free food |
| Dust bowl | the region including Texas, Oklahoma, Kansas, Colorado, and New Mexico, that was made worthless for farming by drought and dust storms during the 1930s |
| Direct relief | the giving of money or food by the government directly to needy people |
| Shantytown | a neighborhood in which people live in makeshift shacks |
| Soup Kitchen | a place where free low-cost food is served to the needy |
| Herbert Hoover | thirty-first president of the United States; as president he failed to deal effectively with the Great Depression |
| Boulder Dam | a dam on the Colorado River-now called Hoover Dam- that was built during the Great Depression as part of a public-works program intended to stimulate businesses and provide jobs |
| Federal Home Loan Bank Act | a law, enacted in 1931, that lowered home mortgage rates and allowed farmers to finance their loans and avoid foreclosure |
| Reconstruction Finance Corporation | an agency established in 1932 to provide emergency financing to banks, life insurance companies, railroads, and other large businesses |
| Bonus Army | a group of World War 1 veterans and their families who marched in Washington, DC, in 1932 to demand the immediate payment of a bonus they had been promised for military service |
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