Great Depression Flashcards
(31 cards)
In October 1929, the period of plunging stock market prices that helped initiate the Great Depression
Stock market crash
Originated as an African American folk dance in the south and became popular throughout the United States and Europe during the Roading Twenties
Charleston
October 29, 1929; the worst day of plunging stock market prices during the stock market crash that helped initiate the Great Depression
Black Tuesday
Shantytown built by unemployed and destitute people during the depression of the early 1930s
Hoovervilles
A period in which stock prices are steadily rising
Bull market
A nickname given to the 1920s because of the decade’s prosperity, technological advances, and cultural boom
Roaring Twenties
Buying stock by paying a percentage of a stock’s price and borrowing the rest of the money from a broker, allowing one to make greater profits if the stock does well
Buying on margin
A financial crisis in which a large number of customers simultaneously attempt to withdraw their money from a bank out of fear that the bank will close
Bank run
A person who buys and sells stocks for clients
Broker
A situation in which people are purchasing fewer goods than the economy is producing
Underconsumption
The central banking authority of the United States, which manages the nations money supply
Federal Reserve System
A wage high enough to provide an acceptable standard of living
Living wage
A law passed by Congress in 1935 to establish federal programs to offer old-age assistance and benifits, unemployment compensation, and aid to needy mothers, children, and the blind.
Social Security Act
The worth of a piece of real estate on the market
Property values
The legal process by which a lender takes over a property it has helped a borrower buy, usually because the buyer has failed to make payments
Foreclosures
The legal process by which a landlord removes a tenant from his or her property, usually because the tenant has failed to pay rent
Eviction
A physical condition that results from a person not eating an adequately healthful diet
Malnutrition
A place that serves free food to the needy
Soup kitchens
A line of needy people waiting for handouts of free food
Breadlines
A severe dust storm
Black blizzard
An area of the Great Plains of the United States that suffered severely from wind erosion during the 1930s
Dust bowl
The loss of residents from an area
Depopulation
A situation in which goods are being produced than people can afford to buy
Overproduction
A nickname for a person who migrated from the Dust Bowl to California during the Great Depression
Okie
