The Great Depression Flashcards
Good Neighbor Policy
FDR treated Latin and South America as equals
Inflation
when there’s more money in the economy than there are goods and services
Deflation
an economic condition where there are more goods and services in the economy than there is money
Stocks
part ownership of a company
Bonds
a loan paid back with a small amount of interest
Buying a margin
paying for the price upfront, paying for the rest later (?)
Black Tuesday
10/29/29 the day the stock market crashed
GNP
gross national product; total amount of all goods and services produced by a country’s company during a year regardless of where it is sold (Ford selling cars in other countries & USA)
GDP
gross domestic product total value of all goods and services of a country’s company in a year sold domestically
(Ford only selling in USA)
Hoovervilles
homeless villages put up by the poor in public parks
Bonus Army
group of WWI veterans seeking an early pension from the govt.
Dust Bowl
drought like conditions in the MidWest
New Deal
FDR’s plan to end the Great Depression; expanded the size of government
Brain Trust
experts FDR brought in to help make the New Deal and deal with different problems
Fire Side Chats
radio addresses from Roosevelt meant to calm the nation
Bank Holiday
When FDR shut down the banks for four days because of the panic
FDIC
Federal Deposit Insurance Corporation; government program that guarantees your deposits up to 5,000 dollars at a time
AAA
Agricultural Adjustment Act; paid farmers to grow less crops
Social Security Act
provides a pension for the elderly and disabled
3 R’s
Relief, Reform, and Recovery; they are the basis of the “New Deal”
Frances Perkins
first female cabinet member, FDR’s Secretary of Labor
NIRA
National Industrial Recovery Administration; government agency that sets wages and prices for participating businesses
Lochner v. New York (1905)
1905 Supreme Court case that says the government may not interfere with the relationship between the employer and employee.
Schecter “Sick Chicken” Case (1935)
1935 Supreme Court case where the court rules the NRA unconstitutional, upholding Lochner.
Court “Packing” Plan
proposed law by FDR to add 6 justices to the Supreme Court; never passed
West Coast Hotel vs. Parish
1935 Supreme Court case that upholds minimum wage laws in Washington state, ending the Lochner era
Executive Order
power of a president to change the way an existing law is enforced.
Deficit
The amount of money per year that the government spends over what it takes in
Debt
