Unit 4 - Prosperity and Depression Flashcards
Recession
A significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in production, employment, real income, and other indicators.
Installment Buying
Purchasing a commodity over a period of time.
Generation Gap
The chasm that separates the beliefs and behaviors belonging to members of two different generations.
Prosperity
The condition of being successful or thriving.
Prohibition
No liquor for the U.S
Flappers
Young women known for their energetic freedom, embracing a lifestyle viewed by many at the time as outrageous, immoral or downright dangerous.
Harlem Renaissance
An intellectual and cultural revival of African-American music, dance, art, fashion, literature, theater, politics and scholarship centered in Harlem, Manhattan, New York City, spanning the 1920s and 1930s.
Great Migration
The movement of 6 million African Americans out of the rural Southern United States to the urban Northeast, Midwest, and West.
Evolution
Any net directional change or any cumulative change in the characteristics of organisms or populations over many generations.
Creationism
The religious belief that nature, and aspects such as the universe, Earth, life, and humans, originated with supernatural acts of divine creation.
Buying on margin
Getting a loan from your brokerage and using the money from the loan to invest in more securities than you can buy with your available cash.
Trickle-down Economics
A belief that tax breaks and benefits for corporations and the wealthy will trickle down to everyone else.
Hoovervilles
Groups of dwellings for the homeless during the Great Depression.
Dust Bowl
The drought-affected south central United States in the aftermath of horrific dust storms.
Economic Depression
A period of sharp and sustained decline in economic activity that typically includes negative gross domestic product growth and a substantial rise in unemployment, poverty and homelessness.
Fireside Chats
Roosevelt called his radio talks about issues of public concern “Fireside Chats.” Informal and relaxed, the talks made Americans feel as if President Roosevelt was talking directly to them.
New Deal
Programs, public work projects, financial reforms, and regulations enacted by President Franklin D. Roosevelt.
Collective Bargaining
The process in which working people, through their unions, negotiate contracts with their employers to determine their terms of employment.
Red Scare
Promotion of a widespread fear of a potential rise of communism, anarchism or other leftist ideologies by a society or state.
Trustbusters
Used to describe the government’s antitrust enforcement activities. The goal of trust busting is to protect competition by preventing monopolies and other anticompetitive business practices.
Fair Labor Standards Act
Creates the right to a minimum wage, and “time-and-a-half” overtime pay when people work over forty hours a week. It also prohibits employment of minors in “oppressive child labor”.
Kellogg-Briand Pact
There were two clauses, one first outlawed war as an instrument of national policy and the second called upon signatories to settle their disputes by peaceful means
