| A | B |
|---|
| gross national product | the total value of all goods and services produced in the nation |
| buying on margin | buying stocks with loans from brokers |
| Federal Reserve System | the nation's centeral bank |
| Black Tuesday | Tuesday, October 29, 1929, the day that the stock market crashed |
| hoboes | a homless person, typically one who is traveling in search of work; the term was used widely during the Great Depression |
| Great Depression | (1929-1930's) the most severe economic downturn in the history of the United States |
| Foreclosure | when a lender takes over ownership of a property form an owner who has failed to make loan payments |
| Hoovervilles | makeshift shantytowns that sprung up during the Great Depression; named for President Hoover |
| drought | a period of very dry weather |
| Dust Bowl | a nickname for the Great Plains regions hit by drought and dust storms in the early 1930's |
| Okies | nickname for a farmer who left the Dust Bowl in search of work; many of these farmers were from Oklahoma |
| associative state | the term for President Hoover's vision of voluntary partnership between business associations and the government |
| Hoover Dam | a dam built in the 1930's, with funding from the federal government, to control the Colorado River |
| cooperative | an organization that is owned and controlled by its members, who work together for a common goal |
| Reconstruction Finance Corporation | a program that provided $2 billion in the direct government aid to struggling banks and other institutions during the Great Depression |
| Smoot-Hawley Tariff Act | high tariff law that contributed to a global economic turndown in the 1930's |
