Chapter 15 vocab words. Ch.16 & 15 important people

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Dow Jones Industrial Average

Measure of average of stock prices of major industries

Black Tuesday

October 29, 1929, the day on which the great crash of the stock market began

Great Crash

the collapse of the American stock market

business cycle

periods in which a nation's economy grows, then contracts

Great Depression

the most severe economic downturn in the nation's history, hich lasted from 1929 to 1941

Hooverville

term used to describe a makeshift homeless shelter during the early years of the Great Depression

Dust Bowl

term used to describe the central and southern Great Plains in the 1930's, when the regionsustained a period of drought and dust storms.

penny auction

farm auctions during the great depression at which neighbors saved each other's property from foreclosure by bidding low.

Twenty-first amendment

consitutional amendment ratified in 1933 to repeal Prohibition.

Hawley-Smoot tariff

the highest import tax in history, passed by Congress in 1930.

Reconstruction Finance Corportation (RFC)

corporation set up by president Hoover in 1923 to give government credit to a number of institutions, such as large industries and insurance companies.

bonus army

a group of WWI veterans and their families who protested in Washington D.C., in 1932, demanding immediate payment of a pension bonus that had been promised for 1945.

Herbert Hoover

31st president of the United States, 1929-1933; worked to aid Europeans during World War I; responded ineffectively to 1929 stock market crash and great depression

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