Things Flashcards
Bank Runs
a financial crisis in which a large number of customers simultaneously attempt to withdraw their money from a bank out of fear that the bank will close
“Fireside Chats”
Radio messages where the president explained his plans and asked Americans for their support.
Labor Unions
a group of workers organized to protect the interests of its members
Consolidation
the merging of two businesses
Interest rates
the amount of the charge made by a bank for the use of money deposited in an account
Drought
a prolonged period of abnormally low rainfall; a shortage of water resulting from this.
Parity
in U.S. agricultural economics, the price that gives farmers the same purchasing power they had during an earlier, more prosperous time
Surplus
an amount of something left over when requirements have been met; an excess of production or supply over demand.
Artificial inflation
Value of the product stays the same, while the price of it goes up
Hooverville
during the Great Depression, a shantytown of makeshift dwellings
Installment buying
an arrangement in which a buyer makes a down payment on a product to be purchased and the seller loans the remainder of the purchase price to the buyer; the purchaser must pay back the loan over time, in monthly installments, or the seller can reclaim the product
Credit
an arrangement for buying something now with borrowed money and paying off the loan over time
