WORLD WAR2/THE GREAR DEPRESSION

GREAT DEPRESSION

• Was the worst economic downturn in the history of the industrialized world, lasting from 1929-1939. It began after the stock market of October 1929, which sent Wall Street into a panic and wiped out millions of investors

BUSINESS CYCLE

• Is the downward and upward movement of gross domestic product (GDP) around its long-term growth trend.

BLACK TUESDAY

• On October 29, 1929 share prices on the New York stock exchange completely collapsed. Becoming a pivotal factor in the emergence of the Great Depression.

THE AMERICAN DREAM

• Is a national ethos of the United States, the set of ideals (democracy,rights,liberty,opportunity,and equality) in which freedom includes the opportunity for prosperity and success, as well as an upward social mobility for the family and achieved through hard work in society.

OVER PRODUCTION

• Excess of supply over demand of products being offered to the market. This leads to lower prices and or unsold goods along with the possibility of unemployment.

KEYNESIAN ECONOMICS

• Are the various macroeconomic theories about how in the short run and especially during recessions. Economic output is strongly influenced by aggregate demand

SPECULATION

• The purchase of an asset with hope that it will become more valuable in near future.

DEBIT SPENDING

• Consumer spending dropped, causing consumer debt.

DEBIT RELIEF

• President Roosevelt’s new deal, beloved that together relief, reform,and recovery could bring economic stability to the nation.

REBEL

• A person who rises in opposition or armed resistance against an established government or ruler.

INCOME DISTRIBUTION

• Is the smoothness or equality with which income is dealt out among members of society

DUST BOWL

• An area of land where vegetation has been lost and soil reduced to dust and eroded, especially as a consequences of drought or unsuitable farming practice.

WOKR PROJECTS

• Financial dreams of programs, public work projects financial reforms and regulations enacted by president by president Franklin D. Roosevelt in the United States between 1933-1936. It responded to needs for relief, reform recovery from the depression.