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Module 9 Vocab

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
Created by: alexis1406
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