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The Great Depression
vocab & important people for 10th grade history unit three
| Term | Definition |
|---|---|
| Stock Market | place where people buy and sell small pieces (stocks) of companies |
| Wall Street | street in nyc famous for being the center of american finance |
| Bull Market | period where stock prices are rising |
| Bear Market | period where stock prices are decreasing |
| Depression | really long-lasting recession -- really bad period for the economy |
| Recession | a period of economic decline |
| Deflation | interest rates go down to encourage spending to boost a suffering economy |
| Inflation | interest rates go up to discourage spending to level-out a booming economy |
| Black Tuesday | tuesday, october 29, 1929 -- day stock market crashed |
| Default | failing to fulfill a financial obligation -- ie. being unable to pay back the money you owe |
| Bank Run | when a group of people rushes to the bank to withdraw their money out of fear of losing it all |
| Shantytown / Hooverville | makeshift communities built by homeless people during times of economic hardship |
| Cope | to deal with something (the great depression) -- strict budgeting, seeking any available work, sharing homes & gardens with extended family & friends, relying on savings, home-based entertainment (radio), etc |
| Dust Bowl | severe dust storms resulting from bad farming techniques -- caused damage to economy & agriculture |
| Migrant Workers | people who move from one place to another, usually within their own country, to find work |
| Public Works | projects & services provided by the government to benefit the community |
| New Deal Relief | immediate assistance programs to come back from great depression (fdr) |
| New Deal Recovery | focused on getting the economy back on its feet after the great depression, partially immediate but usually longer-term |
| New Deal Reform | focused on making lasting changes to prevent future economic crises |
| The Hundred Days | first three months of fdr's presidency where he worked with congress to enact a remarkable amount of legislation aimed at addressing the great depression |
| Fireside Chats | series of evening radio addresses given by fdr between 1933 & 1944 -- restored public confidence during the great depression & explained new deal policies |
| Bank Holiday / EBRA | temporary closure of all banks across the us to stop the panic & allow time for the government to assess the situation following the great crash |
| CCC | civilian conservation corps -- provided jobs for the unemployed & conserved/developed natural resources |
| FERA | federal emergency relief administration -- -provided immediate relief to unemployed & needy americans, addressed the widespread poverty |
| AAA | agricultural adjustment act -- aimed at helping farmers (rose farm prices & reduced agricultural surplus) |
| TVA | tennessee valley authority -- provided navigation, flood control, electricity generation, fertilizer manufacturing & economic development in the tennessee valley (hit hard by depression) |
| NRA | national recovery administration -- stimulated business recovery & promoted fair competition, also stabilized prices, wages & working conditions |
| PWA | public works administration -- created jobs & stimulated the economy through large-scale public works projects |
| NLRA (Wagner Act) | national labor relations act -- protected rights of employees/employers, encouraged collective bargaining & curtailed certain private sector labor & management |
| WPA | works progress administration -- created jobs for millions of unemployed americans & carried out public works projects |
| Federal Project No. 1 | part of the wpa, provided jobs for unemployed artists & cultural workers (writers, musicians & actors) |
| SSA | social security administration -- manages the social security program which provides financial assistance to millions of people (mainly 65+ retired people & disabled) |
| FDIC | federal deposit insurance association -- maintains stability & public confidence in nation's financial system, insures deposits up to $2500 (now $250000) |
| Roosevelt Recession | recession from 1937-1938, resulted from fdr's costly mistake in office (tried to push supreme court members over 70 out of office) but proved the government's ability to respond to economic downturns |
| FLSA | fair labor standards act -- established federal minimum wage (originally $0.25 per hour), requires overtime pay for hours worked beyond 40 in a workweek & limits the employment of minors |
| Herbert Hoover | president during the crash, wanted to let the depression play out & fix itself |
| Bonus Army | group of ww1 veterans who marched on washington dc in 1932 to demand early payment of their promised bonus from fighting in the war |
| Brain Trust | group of advisors who played a key role in fdr's new deal policies |
| Okies | migrants who left the dust bowl region of the great plains seeking refuge & work, primarily in california |
| Franklin Delano Roosevelt | 32nd president of the us, led the nation through the great depression -- served four terms (reason the 22nd amendment was ratified to allow only two) & suffered from polio |
| Eleanor Roosevelt | fdr's wife, encouraged him to run for office despite his previous struggles with polio |
| Frances Perkins | first woman to serve in a us cabinet position (secretary of labor) |
| Mary McLeod Bethune | powerful voice for african american rights & strong advocate for womens rights |
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20kcaw08
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