5/25/23 Chapter Test Flashcards
buyers of stocks pay 10% of the cost of the stock when they make the purchase.
On Margin
the period of economic hard times following the Stock Market Crash lasted 1929 - 1941
Great Depression
unable to pay debts
Bankrupt
places where the hungry could get a free meal
Soup Kitchens
projects built by the government for public use
Public works
clusters of shacks where the homeless lived
Hoovervilles
group of veterans that marched at Washington D.C. during the depression waiting for their Bonus Payment from WWI (Bonus Expeditionary Force)
Bonus Army
panicked traders sold 13 million shares of stock on October 24, 1929
Black Thursday
stock prices fell drastically and there were no buyers for the stock October 29 1929
Black Tuesday
a person is responsible for themselves (Hoover’s Policy)
Rugged Individualism
helped the poor and unemployed set up Soup Kitchens
Young Men’s Christian Association
reduce unemployment and increase purchasing power through the construction of highways and public building ($500 million was put in) and built Boulder Dam
Public Works Program
Hoover’s new govenment sponsored financial institution whose purpose lend to banks and financial institutions. $2 Billion was lent
Reconstruction Finance Corporation
banks were closed for 4 days by FDR during the depression
Bank Holiday
FDR’s comforting chats by a fire during the Great Depression
Fireside Chats
the first 100 days of FDR’s presidency where 15 laws were passed
Hundred Days
the program of FDR to end the Great Depression (Relief, Recovery, Reform)
New Deal
a process by which a union representing a group of workers negotiate with management for a contract
Collective Bargaining
a sum o money paid to people on a regular basis after they retire
pension
spending by government greater than its income
deficit spending
the total amount of money that the government of a country owes to companies countries etc
National Debt