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Ch 12 Vocabulary

Chapter 12 Vocabulary

TermDefinition
Speculation The practice of engaging in risky financial transactions in an attempt to profit from short or medium term fluctuations in the market value of a tradable good such as a financial instrument.
Black Tuesday Stock Market Crash of 1929, began in late October 1929 and was the most devastating stock market crash in the history of the U.S..
Business Cycle Economy-wide fluctuations in production, trade and economic activity in general over several months or years in an economy organized on free-enterprise principles.
Great Depression Severe worldwide economic depression in the decade preceding WW2. It was the longest, deepest, and most widespread depression of the 20th century.
Hawley-Smoot Tariff An act sponsored by Senator Reed Smoot and Representative Willis C. Hawley and signed into law on June 17, 1930, that raised U.S. tariffs on over 20,000 imported goods to record levels.
Bread Line Place where food is offered to the hungry for free or at a below market price.
Hooverville The popular name for shanty towns built by homeless people during the Great Depression.
Tenant Farmer One who resides on land owned by a landlord.
Dust Bowl A period of severe dust storms that greatly damaged the ecology and agriculture of the US and Canadian prairies during the 1930s; severe drought and a failure to apply dryland farming methods to prevent wind erosion caused the phenomenon
Okies A resident or native of Oklahoma.
Repatriation The process of returning a person to their place of origin or citizenship.
Localism A range of political philosophies which prioritize the local.
Reconstruction Finance Corporation An independent agency of the United States government, established and chartered by the US Congress in 1932, Act of January 22, 1932.
Trickle-Down Economics Term in United States politics to refer to the idea that tax breaks or other economic benefits provided to businesses and upper income levels will benefit poorer members of society by improving the economy as a whole.
Hoover Dam Once known as Boulder Dam, is a concrete arch-gravity dam in the Black Canyon of the Colorado River, on the border between the US states of Arizona and Nevada.
Bonus Army The popular name of an assemblage of some 43,000 marchers—17,000 WWI veterans, their families, and affiliated groups—who gathered in Washington, D.C., in the spring and summer of 1932 to demand cash-payment redemption of their service certificates.
Created by: cameronbal70