2.
Great Depression: A
period, lasting from
1929-1940, in which
the U.S. economy was
in a severe decline
and millions of
Americans were
unemployed.
Black Tuesday: A
name given to
October 29, 1929,
when stock prices fell
sharply.
Buying on Margin:
The purchasing of
stocks by paying only
a small percentage of
the price and
borrowing the rest.
Deflation:
Widespread fall in
prices.
3.
Inflation: An increase
in prices or decline in
purchasing power
caused by an increase
in the supply of
money.
Speculation: An
involvement in risky
business transactions
in an effort to make a
quick or large profit.
Supply & Demand:
The forces that
determine prices of
goods and services in
a market economy.
4.
Bank Holiday: a day
or several days when
banks are closed and
depositor’s cannot
withdraw money.
Depression: A very
severe and prolonged
contraction in
economic activity.
Prosperity: A
successful,
flourishing, or
thriving condition.
Dust Bowl: The
region, including
Texas, Oklahoma,
Kansas, Colorado,
and New Mexico, that
was worthless for
farming by drought
and dust storms
during the 1930’s.
Foreclosure: To take
away the right to
redeem (typically
houses or farms).
5.
Bonus Army: A group
of WWI veterans and
their families who
marched on
Washington D.C. in
1932 to demand the
immediate payment
of a bonus they had
been promised for
military service.
Direct Relief: The
giving of money or
food by the
government directly
to needy people.
Parity: A government
supported level for
the prices of
agricultural products,
intended to keep
farmers income
steady.
Shantytowns
(Hoovervilles): A
neighborhood in
which people live in
makeshift shacks.
6.
Deficit Spending: A
government’s
spending of more
money than it
receives in revenue.
Demagogue: A
person who gains
power and popularity
by arousing the
emotions, passions,
and prejudices of the
people.
Fireside Chats: The
radio talks made by
Franklin D.
Roosevelt whole he
was president.
New Deal: President
Franklin Roosevelt
program to alleviate
the problems of the
Great Depression
focusing on relief for
the needy, economic
recovery, and
financial reform.
