Great Depres. Vocab Word Scramble
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Word | Def. |
Federal Reserve | federal government's central bank that sets interest rates. enforces accounting/lending rules, and loans money to local banks |
Relief | the first part of FDR's economic plan- help people with their immediate needs, such as hunger and homelessness and jobs |
Buying on Margin | to buy a stock or product by paying only a small part of the purchases price and borrowing the remember |
Prosperity | an economic condition in which you (or the nation) are experiencing good times |
Hardship | an economic condition in which you (or the nation) are experiencing bad times |
Hoovervilles | 1930's name for a shantytown. Named after President Hoover; who was blamed for not working to stop the Great Depression |
Dust Bowl | the area of an environmental disaster - the topsoil of Midwestern farms blew away- many farmers to abandon their land |
Consumer | a person who purchases and uses a particular product or resourcce |
Okies | People from Oklahoma fleeing west to escape the Dust Bowl in search of work and food; slang name for these migrants |
Over-speculation | When too many people make risky investments based on rising prices rather than the real value of the asset; the result is a boom-and-bust cycle in that market (e.g. the stock market) |
Reform | The third part of FDR's economic plan- it focused on regulating entire industries such as banking and securities trading (stocks) to prevent another Great Depression |
Defaulted | To fail to meet financial obligations/not able to pay a debt |
Overproduction | To make more of something than is necessary or more than can be used |
Tariff | A tax on imported goods used to protect domestic producers and raise revenue ($$) |
Recovery | The second part of FDR's economic plan - impose restrictions on wages and prices to bring the economy under its control to end the Depression |
Great Depression | A devastating economic turndown that began with the Stock Market Crash of 1928 |
Created by:
GingAC02
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