Chapter 21 The Great Depression
Terms in this set (23)
Gross National Product
the total value of goods and services produced by a country during a year
Republican candidate who assumed the presidency in March 1929 promising the American people prosperity and attempted to first deal with the Depression by trying to restore public faith in the community.
buying on margin
paying a small percentage of a stock's price as a down payment and borrowing the rest
Federal Reserve System
The country's central banking system, which is responsible for the nation's monetary policy by regulating the supply of money and interest rates
October 29, 1929; date of the worst stock-market crash in American history and beginning of the Great Depression.
a homeless person, typically one who is traveling in search of work
the economic crisis beginning with the stock market crash in 1929 and continuing through the 1930s
The seizure of property from borrowers who are unable to repay their loans
Depression shantytowns, named after the president whom many blamed for their financial distress
a long period of dry weather when there is not enough water for plants and animals to live
Region of the Great Plains that experienced a drought in 1930 lasting for a decade, leaving many farmers without work or substantial wages.
nickname for a farmer who left the Dust Bowl in search of work
He was a country music artist during the 1930s that sang about the hardships of farmers.
the term for President Hoover's vision of voluntary partnership between business associations and the government
A dam built in the 1930s, with funding from the federal government, to control the Colorado River.
Reconstruction Finance Corporation
Agency established in 1932 to provide emergency relief to large businesses, insurance companies, and banks.
Smoot-Hawley Tariff Act
high tariff law that contributed to a global economic downturn in the 1930s
A type of security that signifies ownership in a corporation and represents a claim on part of the corporation's assets and earnings
A person who trades commodities, bonds, or currencies with a higher than average risk in return for a higher-than-average profit potential; willing to take large risks with respect to anticipating future price movements in the hope of making quick, large gains.
the purchasing of stocks by paying only a small percentage of the price and borrowing the rest
A bond-like agreement that promised payments at a certain maturity date to WWI veterans.
A person who moves from one place to another in order to find work or better living conditions
A group of 20,000 veterans who marched on Washington to demand immediate payment of bonuses earned during WWI