Midterm exam review Flashcards
kellogg-brand pact
a treaty to outlaw war
assembly line
divided operations into simple tasks that unskilled workers can do
supply-side economics
collect taxes at a lower price because it would earn them more money then it would raising them
welfare capitalism
companies allowed employees to buy and sell stocks
reparations
huge cash payments Germany had to make as punishment for starting WW1
cooperative individualism
manufacturers and distributors to form their own trade associations
tin lizzie
a cheap model T, made with the assembly line (Henry Ford)
four power treaty
recognized each island possestion
moratorium
the stop of manufacturing war ship
commuters
people that lived in growing suburban communities and worked in the city
hobos
Individuals who traveled from town to town in search of work, often living in makeshift homes and relying on transient jobs to survive
black Tuesday
The catastrophic stock market crash on Octer 29, 1928, making the beginning of the Great Depression, leading to widespread economic turmoil
bank run
A situation where a large number of customers withdrew their deposits simultaneously due to fears of bank insolvency, exacerbation and the financial crisis.
tonto
a faithful Indian companion in a radio story
groucho Marx
A prominent American comedian known for his quick wit and satirical humor, representing the cultural shift towards entertainment in the 1920s
Douglas MacAuthur
a army chief that ignored his orders to clear the building (in the bonus army rebellion) and cleared the entire camp instead.
John steinbeck
An influential American author whose works depicted the struggles of the work class during the Great Depression, emphasizing social issues
Scarlett O’Hara
A character in gone with the wind, portrayed by a British actress, showed her struggle in getting back to everyday life after WW1
speculation
buyers hoping to make a fortune overnight, they took risk in the buy and sell in stock market.
budget deficit
a financial situation where expenditures exceed revenues, a common occurrence during the Great Depression as government spending increased to stimulate the economy
Glass-Steagall
separated commercial banks from investment banks.
Fair labor standards act
provided more protection to workers, abloshied child labor, and made a 40 hour work week
National housing act
The government maked low-costing houses to get people out of shanty’s and hoovervilles.
Works progress administration
Hired contractors for highways, roads, and streets
