| A | B |
|---|
| speculation | investment in high risk ventures |
| buying on the margin | Buying stock by paying only a portion of the full cost up-front with promises to pay the rest later |
| Black Tuesday | October 29,1929, the day stock market crashed |
| Great Depression | Period of bad economic times in the US that lasted from 1929 to 1941 |
| Dow Jones Industrial Average | index of stock prices of select companies |
| Dust Bowl | Area of the Great Plains made worthless for farming by drought and dust storms in the 1930's |
| shantytown | a neighborhood where people live in shacks |
| direct relief | money or food given directly from the govt to the needy |
| Bonus Army | unemployed WWI veterans who marched to Washington to demand their bonuses |
| drought | a long period of unusually low rainfall |
| economic cycles | periods of good times, or prosperity, alternating with periods of economic hard times |
| foreclosure | the taking of mortgaged property by the lender because the borrower cannot make the payemnts on the loan |
| Great Plains | a large flat area of west-central US originally covered by a type of grass that does not need much rain and that has strong roots which hold the soil in place |
| mortgage | payments made to pay back the loan used to buy a house or land |
| bull market | when the stock market is increasing |
| bear market | when t the stock market is decreasing |
| Hoovervilles | shantytowns named after president |
| credit | promise to pay something later |
| depression | a depression is a sustained, long-term downturn in economic activity in one or more economies. It is a more severe downturn than an economic recession, which is a slowdown in economic activity over the course of a normal business cycle. |
| recession | a period of negative economic growth for two consecutive quarters. In a recession, unemployment will rise, output fall and government borrowing increase. A depression is a recession much more severe and long lasting. |
