9 terms

Chapter 14: The Great Depression (Section 1)

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price support
the maintenance of a price at a certain level through government intervention.
credit
an arrangement in which a buyer pays later for a purchase, often on an installment plan with interest charges.
Alfred E. Smith
a democrat who ran against Herbert Hoover.
speculation
an involvement in in risky business transactions in an effort to make a quick or large profit.
buying on margin
the purchasing of stocks by paying only a small percentage of the price and borrowing the rest.
Black Tuesday
a name given to October 29, 1929 when stock prices fell sharply.
Great Depression
a period, lasting rom 1929 to 1941, in which the U.S. economy was in severe decline and millions of Americans were unemployed.
Dow Jones Industrial Average
a measure based on the prices of the stocks of 30 large companies, widely used as a barometer of the stock market's health.
Hawley-Smoot Tariff Act
a law, enacted in 1930, that established the highest protective tariff in U.S. history, worsening the depression in America and abroad.
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