The Great Depression Test with Complete Solutions(SCORED A+)

Credit - ANSWER-An arrangement in which a buyer pays later for a purchase, often on an installment plan with interest charges. speculation - ANSWER-An involvement in risky business transactions in an effort to make a quick or large profit. buying on margin - ANSWER-An option that allowed investors to purchase a stock for only a fraction of its price and borrow the rest Dow Jones Industrial Average - ANSWER-The average cost of 30 selected stocks, used to give an indication of the direction (up or down) of the stock market over time. Great Depression - ANSWER-a period, lasting from , in which the U.S. economy was in severe decline and millions of Americans were unemployed. Black Tuesday - ANSWER-October 29, 1929; date of the worst stock-market crash in American history and beginning of the Great Depression. Dust Bowl - ANSWER-Parts of Oklahoma, Kansas, Colorado, New Mexico, and Texas that were made worthless for farming by drought and dust storms during the 1930s. direct relief - ANSWER-cash payments or food provided by the government to the poor Herbert Hoover - ANSWER-31st President of the United States, Republican candidate who assumed the presidency in March 1929 promising the American people prosperity and attempted to first deal with the Depression by trying to restore public faith in the community. Bonus Army - ANSWER-A group WW I veterans tried to pressure Congress to pay them their retirement bonuses early. Congress considered a bill authorizing immediate assurance of $2.4 billion, but it was not approved. Angry veterans marched on Washington, D.C., and Hoover called in the army to get the veterans out of there. How did what happened to farmers during the 1920s foreshadow events of the Great Depression? - ANSWER-Farmers planted more and took out loans for land and equipment hoping for a good payout when the crop prices declined and farmers lost land.