AH Unit 5 FLASHCARDS (Great Depression & New Deal)

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Deflation

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Decrease in the general price level of goods and services.

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Price supports

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Maintenance of a price at a certain level through government intervention.

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Credit

Back

An arrangement in which a buyer pays later for a purchase, often on an installment plan with interest charges.

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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

Back

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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Purchasing of stocks by paying only a small percentage of the price and borrowing the rest.

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Black Tuesday

Back

Name given to October 29, 1929, when stock prices fell sharply.

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Great Depression

Back

A period, lasting from 1929 to 1940, in which the U.S. economy was in severe 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 U.S. history, worsening the Depression in America and abroad.

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Shantytown

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A neighborhood in which people live in makeshift shacks.