hannah – ss great depression/new deal – terms

hannah – ss great depression/new deal – terms

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recession a period of slow business activity; doesnt last very long
depression a severe economic downturn marked by a decrease in business activity, widespread unemployment, and falling prices and wages; lasts for a longer period of time
business cycle periods in which a nations economy grows, then contracts
black tuesday october 29, 1929, the day on which the great crash of the stock market began
bank run when a large number of customers withdraw all of their money from the bank because they believe the financial institution will or might go out of business
buying on margin an option that allowed investors to purchase a stock for only a fraction of its price and borrow the rest
hooverville term used to describe a makeshift homeless shelter during the early years of the great depression
great dust bowl term used to describe the central and southern great plains in the 1930s when the region sustained a period of drought and dust storms
twenty first amendment constitutional amendment ratifies in 1933 to repeal prohibition
hawley smoot tariff the highest import tax in history, passed by congress in 1930
bonus army a group of world war one veterans and their families who protested in washington, dc in 1932, demanding immediate payment of a pension bonus that had been promised for 1945
demagogue a leader who manipulates people with half truths, deceptive promises, and share tactics
national debt total amount of money that the federal government borrows and has to pay back
deficit spending paying out more money from the annual federal budget that the government receives in revenues

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