Term | Definition |
1. Speculation | Practice of making high-risk investments in hopes of obtaining large profits |
2. Black Tuesday | October 29, 1929 when stock prices fell sharply in the Great Crash |
3. Business Cycle | Periodic growth and contraction of the economy |
4. Great Depression | Period lasating from 1929 to 1941 in which the U.S. economy faltered and unemployment soared |
5. Hawley-Smoot Tariff | Protective import tax authorized by Congress in 1930 |
6. Bread Line | Line of people waiting for food handouts from charities or public agencies |
7. Hooverville | Term used to describe makeshift shantytowns set up by homeless people during the Great Depression |
8. Tenant Farmers | Working for bigger landowners rather than for themselves |
9. Dust Bowl | Term used for the central and southern Great Plains during the 1930s when the region suffered from drought and dust storms |
10. Okies | General term used to describe Dust Bowl refugees |
11. Repatriation | Process by which Mexican Americans were encouraged, or forced, by local, state, and federal officials to return to Mexico during the 1930s |
12. Localism | Policy relied on by President Hoover in the early years of thte Depression whereby local and state governments act as primary agents of economic relief |
13. Reconstruction Finacne Corporation | Federal agency set up by Congress in 1932 to provide emergency government credit to banks, railroads, and other large businesses |
14. Trickle-down economics | Economic theory that holds that money lent to banks and businesses will trickle down to consumers |
15. Hoover Dam | Dam on the Colorado River that was built during the Great Depression |
16. Bonus Army | Group of World War 1 verterans who marched on Washington D.C. in 1932 to demand early payment of a bonus promised them by Congress |