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7 Cards in this Set
- Front
- Back
span in which the economy expands, then contracts
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business cycle
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Most severe economic downturn in the nation's history, which lasted from 1929 to 1941
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Great Depression
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collapse of the American stock market in 1929
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Great Crash
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the measure of the average of stock prices of major industries
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Dow Jones Industrial Average
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Day in which the stock market crashed in 1929
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Black Tuesday
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How did the overspeculation in the stock market endanger the economy?
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Speculation resulted in many stocks being purchased with borrowed money, so the rise in stock prices had no solid foundation.
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How did the Great Depression affect other countries?
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During the Depression, other countries were not able to pay their war debts and international trade slowed. Poor economic conditions spread to many countries.
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