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ECONOMIC VOCAB
THE NEW DEAL
BILLS/ACTS
BOOM & BUST
CAUSES OF THE GREAT DEPRESSION
100
This is a concept which helps explain the pricing structure in a free enterprise economy. E.g. more request=high prices; more stock=low price
What is supply and demand
100
This president introduced new economic measures to counteract the effects of the Great Depression.
What is Franklin Delano Roosevelt
100
This authorized the American president to give credit to "any country whose defence the President deems vital to the defence of the USA"
What is Lend-Lease Act
100
This limited the immigrants allowed in America and required a literacy test.
What is Immigration Act
100
This is the day known as Black Tuesday, the day when all stocks crashed
What is Stock Market Crash (1929)
200
Economic self-sufficiency.
What is Autarky
200
The group of acts Roosevelt/Congress created to tackle the Depression.
What is Alphabet Agencies
200
This was the ban of buying, selling, and producing alcoholic beverages.
What is Prohibition (18th Amendment)
200
This is the act of keeping out of the foreign affairs.
What is Isolationism
200
This is when the industrial capacity of the USA had expanded beyond the ability of the consumer to consume.
What is overproduction
300
This term refers specifically to buying stocks with 10% down payment, with hopes that the value of the stock would increase, essentially paying for itself.
What is Buying on Margin?
300
Roosevelt spoke to America on the radio to pump up and reassure citizens
What is Fireside Chats
300
This was the raising of American tariffs to protect the factories and farms.
What is Fordney-McCumber Act
300
This organization consisted of white supremacists.
What is Ku Klux Klan
300
Countries protect their own industries and products by raising these.
What is tariffs
400
The day the stock market crashed.
What is Black Tuesday
400
This President, preceding, Franklin Roosevelt had been ineffective in dealing with the Great Depression?
What is Herbert Hoover
400
This was the reopening and government aid to stronger banks
What is Emergency Banking Act
400
Illegal saloons during the Prohibition Act
What is speakeasies
400
This was when people put 10% down in stocks in hopes that the stock value would go up thus paying for itself
What is buying on margin
500
Speculators bought stocks with borrowed money then pledged those stocks as collateral to buy more stocks.
What is over-speculation
500
During this time, Roosevelt passed 15 new legislation bills that helped with the New Deal. (Examples - AAA, CCC, NIRA)
What is the 100 days
500
This was enacted to carry out the intent of the Eighteenth Amendment
What is Volstead Act
500
When the USA lent money to foreign nations, those nations depended on their ability to sell their products to the USA to raise the currency to repay those loans. When the USA led to tariff movements, international trade was reduced and those countries lost their ability to pay.
What is international debt after WWI