- Slides: 6
THE GREAT DEPRESSION Vocab
Great Depression: A period, lasting from 1929 -1940, in which the U. S. economy was in a severe decline and millions of Americans were unemployed. Black Tuesday: A name given to October 29, 1929, when stock prices fell sharply. Buying on Margin: The purchasing of stocks by paying only a small percentage of the price and borrowing the rest. Deflation: Widespread fall in prices.
Inflation: An increase in prices or decline in purchasing power caused by an increase in the supply of money. Speculation: An involvement in risky business transactions in an effort to make a quick or large profit. Supply & Demand: The forces that determine prices of goods and services in a market economy.
Bank Holiday: a day or several days when banks are closed and depositor’s cannot withdraw money. Depression: A very severe and prolonged contraction in economic activity. Prosperity: A successful, flourishing, or Dust Bowl: The region, including Texas, Oklahoma, Kansas, Colorado, and New Mexico, that was worthless for farming by drought and dust storms during the 1930’s. Foreclosure: To take away the right to redeem (typically houses or farms).
Bonus Army: A group of WWI veterans and their families who marched on Washington D. C. in 1932 to demand the immediate payment of a bonus they had been promised for military service. Direct Relief: The giving of money or food by the government directly Parity: A government supported level for the prices of agricultural products, intended to keep farmers income steady. Shantytowns (Hoovervilles): A neighborhood in which people live in makeshift shacks.
Deficit Spending: A government’s spending of more money than it receives in revenue. Fireside Chats: The radio talks made by Franklin D. Roosevelt whole he was president. Demagogue: A person who gains power and popularity by arousing the emotions, passions, and prejudices of the people. New Deal: President Franklin Roosevelt program to alleviate the problems of the Great Depression focusing on relief for the needy, economic recovery, and financial reform.