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AC-Ch.15 Depression

Am. Cultures - Ch.15: Crash & The Great Depression

Dow Jones Industrial Average Measure of average of stock prices of major industries
Black Tuesday October 29, 1929, the day on which the Great Crash of the stock market began
Great Crash The collapse of the American stock market in 1929
Business cycle Periods in which a nation's economy grows, then contracts
Great Depression The most severe economic downturn in the nation's history, which lasted from 1929 to 1941
Hooverville Term used to describe a makeshift homeless shelter during the early years of the Great Depression
Dust Bowl Term used to describe the central and southern Great Plains in the 1930s, when the region sustained a period of drought and dust storms
Penny auction Farm auctions during the Great Depression at which neighbors saved each other's property from foreclosure by bidding low
Twenty-First Amendment Constitutional amendment ratified in 1933 to repeal Prohibition
Hawley-Smoot tariff The highest import tax in history, passed by Congress in 1930
Reconstruction Finance Corporation (RFC) Corporation set up by President Hoover in 1932 to give government credit to a number of institutions, such as large industries and insurance companies
Bonus Army A group of WWI veterans and their families who protested in Washington, D.C., in 1932, demanding immediate payment of a pension bonus that had been promised for 1945
Created by: tmgilbert