| A | B |
|---|
| bull market | period when people are anxious to buy stock and prices are rising |
| bear market | period when people are trying to sell stock and prices are dropping |
| stock speculation | buying stock for the expressed purpose of making a rapid profit |
| margin buying | buying stock with borrowed money in an attempt to increase profit potential |
| Black Thursday/Black Tuesday | days in October of 1929 when stocks first began to fall and then crashed |
| gross national product | the total value of all goods and services produced in a nation in one year |
| Great Depression | the worse economic downturn in U.S. history characterized by high unemployment, declining prices, bank failures, and reduced production and sales |
| Smoot-Hawley Tariff | high protective tariff passed in 1930 that contributed to the decline in foreign trade |
| business cycle | the regular ups and downs of the economy marked by prosperity, recession, depression, and recovery |
| breadlines | places where hungary and homeless Americans could get handouts of bread and soup |
| shantytowns/Hoovervilles | makeshift shelters made by homeless Americans on the outskirts of American cities |
| Hoover blankets | newspapers used by homeless Americans to keep warm |
| foreclosure moratoriums | temporary prohibition of bank foreclosures on homes and farms |
| rugged individualism | belief held by President Hoover and others that each individual was responsible for his/her own well-being |
| Agricultural Marketing Act | law providing for the federal government buying farm surpluses in an attempt to raise prices for farm products |
| Home Loan Bank Act | federal government provided money to banks in an attempt to provide low interest loans and to prevent foreclosures |
| Reconstruction Finance Corporation | government loans to banks and businesses to stop business failures and to maintain employment |
| Bonus Army | WWI veterans who marched on Washington, D.C. demanding early payments for WWI service |
| Election of 1932 | FDR landslide victory over Herbert Hoover as FDR promised the American people a New Deal |
| Herbert Hoover | President often blamed for the Great Depression and who belived in rugged individualism |
| Andrew Mellon | U.S. Secretary of the Treasury who cut taxes on the wealthy due to his belief in trickle down economics |
| Douglas MacArthur | general who was ordered by Hoover to forcibly drive the Bonus Army out of Washington |
| Franklin D. Roosevelt | Democratic governor of New York who ran for President in 1932 promising the American people a New Deal |
| Eleanor Roosevelt | wife of FDR who strongly believed in social reform and who acted as her husband's eyes and ears |
