the Great Depression vocabulary words – Flashcards
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the total value of all goods and services produced in the nation
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Gross National Product
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buying stocks with loans from brokers
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buying on margin
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the nation's central bank
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Federal Reserve System
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Tuesday, October 29, 1929, the day that the stock market crashed
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black tuesday
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when a lender takes over ownership of a property from an owner who has failed to make loan payments
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foreclosure
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widespread panic in which great numbers of people try to redeem their paper money
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bank run
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shanty towns built by the homeless during the Great Depression
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Hooverville
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Region of the Great Plains that experienced a drought in 1930 lasting for a decade, leaving many farmers without work or substantial wages.
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Dust Bowl
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the farmers, who in the Great Depression, were forced to move, many moved to Oklahoma
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Okies
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the term for Preseident Hoover's vision of voluntary partnership between business associations and the governemnt.
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associative state
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a jointly owned commercial enterprise (usually organized by farmers or consumers) that produces and distributes goods and services and is run for the benefit of its owners
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cooperative
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legislation passed in 1930 that established very high tariffs. Its objective was to reduce imports and stimulate the domestic economy, but it resulted only in retaliatory tariffs by other nations
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Smoot-Hawley Tariff Act
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structures (such as highways or schools or bridges or docks) constructed at government expense for public use
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public works
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informal talks given by FDR over the radio; sat by White House fireplace; gained the confidence of the people
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fireside chats
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gave the President power over the banking system and set up a system by which banks would be reorganized or reopened
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Emergency Banking Act
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Federal Deposit Insurance Corporation
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FDIC
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a grant paid by a government to an enterprise that benefits the public
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subsidy
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Agricultural Adjustment Administration: attempted to regulate agricultural production through farm subsidies; ruled unconstitutional in 1936; disbanded after World War II
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AAA
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National Industrial Recovery Act
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NIRA
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Public Works Administration
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PWA
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Securities and Exchange Commission
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SEC
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Tennessee Valley Authority
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TVA
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Civil Works Administration
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CWA
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Works Progress Administration
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WPA
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social welfare program in the U.S.
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social security
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Rural Electrification Administration
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REA
