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The Great Depression > Vocabulary > Flashcards

Flashcards in Vocabulary Deck (10):
1

Financial failure caused by an inability to pay one’s debts

bankruptcy

2

Situation in which the supply of manufactured goods exceeds the demand

overproduction

3

Sum of money paid regularly as a retirement benefit

pension

4

Government practice of spending more money than is taken in from taxes

deficit spending

5

Money the government is authorized to remove from a worker’s salary and use to help support the government

payroll tax

6

Something offered as security for a loan

collateral

7

Economic system in which the government avoids all interference with the economy.

Laissez Faire

8

A loan in which a house is used as collateral.

Mortgage

9

A time when the economy is at a low

recession

10

A time when the economy is at its lowest

depression