08 - Great Depression Vocabulary
Terms in this set (15)
the government office workers and the government departments in which they work; the workers who make the basic functions of government work in practice
The most extreme form of socialism, characterized by government control of the entire economy. In practice, this economic system has been directed by a powerful central government that limits democracy.
Unsecured loans given to average Americans to buy goods with money that they pay back slowly (car loans, early "credit cards")
a long and severe recession in an economy or market
the basic physical and organizational structures and facilities (e.g., buildings, roads, and power supplies) needed for the operation of a society or enterprise
An economic approach that calls for increased government spending and lower taxes to stimulate demand and pull the economy out of a severe decline. Government will spend to cover its costs in the short run.
Radio, TV, Popular websites - Forms of information distribution aimed at large and untargeted audiences
workers who travel from place to place doing seasonal work. Farm workers who pick and plant crops often fall into this category since they are not needed at all times during the year.
The accumulated total amount of money owed by a country to the foreign nations and wealthy people who have lent that nation money.
the amount that a country borrows in any given year if it spends more than it takes in in taxes.
President Roosevelt's promises and program to rebuild the US economy after the Great Depression had started.
an earlier event or action that is regarded as an example or guide to be considered in subsequent similar circumstances.
a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in overall economic activity for at least six months.
Government ownership of at least some of the means of production (resources, factories, stores, etc.). An economic system that aims at equality for all members of society
The financial arena where shares of ownership in public companies is bought and sold.
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