Great Depression Flashcards
Capitalism
trade is controlled by private owners
Herbert Hoover
“hated” president
Margin buying
borrowing money to purchase a stock
Black Tuesday
stock market crash
Communism
publicly owned property; people paid according to abilities
Gross national product
overall out put of economy; making producing as a country
Great Depression
world-wide economic downfall
Business cycle
keep waiting; economy will work itself out
Smoot-Hawley Tariff
Tax on imports
Breadlines
provided bread and soup
Shantytowns
Hooverville; poor people poor living conditions
Rugged Individualism
independent from government
Volunteerism
contributing free labor
Franklin D. Roosevelt
Distantant cousin of T.R- assistant secretary of the navy
Bonus Army
cash redemption
Bank Holiday
closed; reevaluate money
Home Owners Loan Corporation
loaned money-allowed families to stay in their home
Agricultural Adjustment Association
prices rise and over production stops
New Deal
efforts to re-inflate the economy
Tennessee Valley Authority
provides cheap power to poor region
Federal Deposit Insurance Cooperation
insurance for money in banks
John Maynard Keyes
british economist; sited for the “new deal”
Civilian Conservation Corps
work to send money home to families
Securities and Exchange Commission
stock market watch to prevent crash
