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19 Cards in this Set
- Front
- Back
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price support:
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the maintenance of a price at a certain level through government intervention
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credit:
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an arrangement in which a buyer pays later for a purchase, often on an installment plan with interest charges
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Alfred E. Smith:
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Democratic candidate who ran against Republican Herbert Hoover in the election of 1928
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Dow Jones Industrial Average:
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a measure based on the prices of the stocks of 30 large companies, widely used as a barometer of the stock market’s health
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speculation:
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an involvement in risky business transactions in an effort to make a quick or large profit
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buying on margin:
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the purchasing of stocks by paying only a small percentage of the price and borrowing the rest
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Black Tuesday:
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a name given to October 29, 1929, when stock prices fell sharply
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Great Depression:
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a period, lasting from 1929 to 1940, in which the US economy was in service decline and millions of Americans were unemployed
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Hawley-Smoot Tariff Act:
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a law, enacted in 1930, that established the highest protective tariff in US history, worsening the depression in American and abroad
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Shantytown:
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a neighborhood in which people live in makeshift shacks
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soup kitchen:
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a place where free or low cost food is served to the needy
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breadline:
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a line of people waiting for free food
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Dust Bowl:
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the region, including Texas, Oklahoma, Kansas, Colorado, and New Mexico, that was made worthless for farming by droughts and dust storms during the 1930’s
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direct relief:
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the giving of money or food by the government directly to needy people
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Herbert Hoover:
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President in October 1929, tried to reassure Americans that the nation’s economy was on a sound footing, the important thing was for Americans to remain optimistic and to go about their business as usual
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Boulder Dam:
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a dam on the Colorado River, now called Hoover Dam, that was built during the Great Depression as part of a public works program intended to stimulate business and provide jobs
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Federal Home Loan Bank Act:
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a law, enacted in 1931, that lowered home mortgage rates and allowed farmers to refinance their loans and avoid foreclosure
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Reconstruction Finance Corporation:
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an agency established in 1932 to provide emergency financing to banks, life insurance companies, railroads, and other large businesses
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Bonus Army:
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a group of WW1 veterans and their families who marched on Washington, DC, in 1932 to demand the immediate payment of a bonus they had been promised for military service
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