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Great Depression
Question | Answer |
---|---|
Deflation | Widespread fall in prices |
Black Tuesday | A name given to October 29, 1929 when stock prices fell sharply. |
Dust Bowl | The region that was worthless for farming due to drought and wind during the 1930s |
Inflation | An increase in prices or decline in purchasing power caused by an increase in the supply of money. |
Speculation | An involvement in risky business transactions in an effort to make a quick or large profit |
Supply & Demand | The forces that determine prices of goods and services in a market economy |
Bank Holiday | A day or several days when banks are closed and depositors cannot withdraw money |
Depression | A very severe and prolonged downfall in economic activity |
Bonus Army | A group of WWI veterans and their families who marched on Washington, DC in 1932 to demand the immediate payment for military service that had been promised. |
Foreclosure | To take away the right to redeem (typically houses or farms) |
Hooverville | A neighborhood in which people live in makeshift structures |
Prosperity | A successful, flourishing or thriving condition |
Fireside Chats | Radio talks made by FDR while he was president |
Deficit Spending | A government's spending of more money than it receives in revenue |
Demagogue | A person who gains power and popularity by arousing the emotions, passions, and prejudices of the people |
New Deal | FDR's program to alleviate the problems of the Great Depression focusing on relief, recovery, and reform |
Great Depression | A period lasting from 1929-1940 in which the U.S. economy was in a severe decline and millions of Americans were unemployed |
Buying on Margin | The purchasing of stocks by paying only a small percentage of the price and borrowing the rest. |
Direct Relief | The giving of money or food by the government directly to needy people |