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The Great Depression

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.

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The Great Depression

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  1. The Great Depression Vocab

  2. 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.

  3. 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.

  4. 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 thriving condition. • 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).

  5. 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 to needy people. • 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.

  6. Deficit Spending: A government’s spending of more money than it receives in revenue. • Demagogue: A person who gains power and popularity by arousing the emotions, passions, and prejudices of the people. • Fireside Chats: The radio talks made by Franklin D. Roosevelt whole he was president. • 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.

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