| Term | Definition |
|
The Great Depression |
a period of time when the stock market crashed, and most of the country was in poverty |
|
Black Tuesday |
the day the stock market crashed, October 29, 1929 |
|
Stock |
a share/piece/percentage of a company |
|
overproduction |
when companies produced more goods than could be consumed, thus losing money |
|
speculation |
when people buy stock hoping it would go up even if it wasn't good; inaccurate claims on stock prices |
|
tariffs |
taxes on imported goods |
|
bull market |
when the stocks go up for an extended period of time |
|
credit |
borrowing money |
|
buying on margin |
borrowing money to buy stocks, to make money, to pay the lender back |
|
hoovervilles |
makeshift towns made by hobos; named so because people blamed the towns on Hoover |
|
recession |
an economical slowdown |
|
bonus army |
an army of veterans of World War I, who wanted their "bonuses" (1000$) that was promised to them by the government for fighting, |
|
The New Deal |
FDR's plan to solve depression, made up of social programs |
|
Fireside chat |
Radio speeches giving Americans hope during the depression; given by FDR |
|
social security |
An act passed in 1935 gave government-payed pensions to American citizens over the age 65 as well as provided help for the unemployed, the disabled, and the needy.-REFORM |
|
Dust bowl |
when the topsoil was dried and blown all over the states, where a severe drought occurred and many farmers suffered due to this |
|
alphabet soup programs (CCC, WPA, AAA, FDIC, SEC, TVA) |
nicknames given to New Deal programs |
|
Federal Reserve |
controls America's money supply, by controlling the interest rates of banks, also america's central bank |
|
CCC |
helped young people get jobs-RELIEF |
|
WPA |
promoted jobs by building bridges etc.-RELIEF |
|
NRA |
made 40 hr, 5 day work week-RECOVERY |
|
REA |
gave rural areas electricity, and made a better electric system-RECOVERY |
|
AAA |
decreased overproduction-RECOVERY |
|
SEC |
regulates the stock market-REFORM |
|
TVA |
built dams tried to fix floods, and deforestation-REFORM |
|
FDIC |
ensures people's investments in banks-REFORM |