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Era 8 vocab

TermDefinition
Great depression The period from 1929-1949 where the economy plummeted and unemployment skyrocketed
Stock market Financial trading: the activity of buying and selling stocks and shares, or the global market for stocks and shares
Default Failure to meet an obligation, especially a financial one.
Shantytowns During the depression an area where a people lived in shacks, boxes, and old cars. Known as "Hoovervilles"
Expenditures A cost or money spent
Rugged individualism President Hoover's idea that people should "tough it out" and not look to the government for help.
Bonus army Group of WWI veterans who protested to be compensated for wartime services , later forcibly disbanded by Hoover
Herbert hoover President elected in 1928 who at first was too cautious in this approach to solving problems about the depression
Franklin Delano Roosevelt President from 1932-1945 and a central figure through the Great Depression and WWII
Soup kitchens Depression solution to provide free or low cost meals to unemployed or poor people
Dust bowl Central region that economically destroyed when drought and wind struck mismanaged lands
Credit Arrangement in which consumers agree to buy now and pay later for purchases
Buying on margin Practice of buying stocks with mostly borrowed funds
Speculation Practice of buying stocks and bonds in hopes of a quick profit; ignoring risks.
Direct relief Type of relief for the poor where cash payments or food is provided by the government
Price support Maintenance of prices , as of a raw material or commodity , at a certain level
New deal FDR's overall plan and program to solve the problems of the Great Depression era.
Cyclical unemployment Layoffs leading to fewer consumers in the market. Less spender then leads to more layoffs.
Deficit spending Term for spending more money than the government receives or has in revenues.
Social security act Major 1935 new deal legislation that created unemployment benefits, old age insurance and social programs.
Created by: kate.922
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