20 terms

SS 8 - Great Depression Vocab Ch. 26

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relief
programs to help the needy
recovery
a period of increasing employment and expanding business activity
reform
to make changes for the better
migrant
people who move from one region to another to find work
sit-down strike
workers stop all machines and refuse to leave the factory
overproduction
to produce more goods than people can buy
on margin
pay only part of the cost of stock when a purchase is made
bankrupt
unable to pay debts
soup kitchens
places where the hungry could get a free meal
bonus
an additional sum of money
collective bargaining
process by which a union representing a group of workers negotiates with management for a contract
public works programs
projects by the government for public use
bank holiday
closing of every bank in the country for 4 days
national debt
total sum of money the government owes
deficit spending
government spending more than they take in
pension
sum of money paid to people on a regular basis after they retire
boom
a period of increasing employment, consumer spending, factory expansion and consumer confidence
peak
a period of full employment and overproduction
recession
a period when employment, consumer confidence and demand begin to decrease
depression
a period where unemployment is very high and people begin to lose their homes and farms; factories close, and banks fail