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8.U4.Ch3 Vocab
Bayou Bridges 8th Grade Unit 4 Chapter 3 Vocab
| Term | Definition |
|---|---|
| stock market crash (phrase) | a rapid and severe drop in stock prices |
| gross domestic product (GDP) | the value of all goods and services produced in one country during a specific period, usually a year or part of a year |
| tariff | a system of fees placed on imported goods |
| Federal Reserve | the central bank of the United States |
| corporate bond | a certificate from a business that promises interest paid on a loan |
| bank run | an event in which many customers take their money out of banks for fear that the banks will fail |
| prime interest rate | the base rate of money charged by a bank for a loan |
| social welfare | a nation's system for providing assistance to those in need |
| foreclose | to seize, or take, a property because of failure to pay a loan |