Great Depression Flashcards
process of betting on stock market
speculation
buying stock on credit
margin
requesting the rest of your money
margin call
became president in 1928
Hoover
secretary of commerce and head of food administration
hoover
demands by bank depositors or customers to withdraw money
bank run
how many banks closed
one in four
system for buying and selling shares
stock market
three causes of depression
bad distribution of income, loss of export sales, mistakes by fed reserve
major factor of depression
overproduction
period of rising stocks
bull market
price of stocks falling
bear market
how many people owned stocks
10%
when stock took steep dive
black Thursday black tuesday
measure of value of leading industrial companies
industrial index
raised average tariff rate to highest in american history
hawley smoot tariff
who kept the rates low through out the 20s
federal reserve board
sustained long term down turn in economic activity
depression