Social Studies Chapter 14

What is a Bull Market?

Rapidly rising market index
What is a Bear Market?

Rapidly falling market index
What is buying on margin?

Borrowing money to buy stocks
What is speculation?

Putting your money in a risky stock
What was the stock market crash on October 29, 1929 called?

Black Tuesday
Who was the Secratary of Treasury who thought this was a good thing?

Andrew Mellon
What is GNP?

Gross national product
How much did the GNP fall by?

30%
What is expansion?

A period of economic growth
What is contraction?

A perion of negative economic growth
What is contractions of 3 straight quaters at a time?

A recession
What is a sever recession that lasts a long period of time?

A depression
What did Hoover blame for our troubles?

World economic troubles
What raised the tax on imports into America, caused countries to not sell to America, and worsened the depression?

The Smoot-Hawley Tariff
What was the unemployment rate in 1932?

24%
What were Hoovervilles?

Shacks built on the outskirts of cities made from whatever they had
What did they sometimes use as blankets in Hoovervilles?

Newspapers
What was the RFC?

A corporation that loaned money to buisnesses and banks to keep them in operation
What is public works?

Spent money on hospitals, roads, school projects
What was the Federal Home Loan Bank Act?

Provided money to banks, financial institutions, & insurance companies
What was the bonus army?

WWI veterans who marched in DC because they wanted their checks earlier

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ImmenslyInsane

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Card Set

Social Studies Chapter 14

Description

So I don't fail his test tomorrow!!

Updated

2011-12-20T21:28:13Z

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