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Chapter 4
Great Depression - Part II - Interward Period 1919-1939
| Question | Answer |
|---|---|
| less severe than a depression, a recession is a downturn in economic activity in which the value of goods and services declines. Part of the business cycle - Example (2008) | Recession |
| a long period of severe economic and social hardship, massive unemployment, and suffering. | Depression |
| an economic system in which individuals produce goods and prices are determined by supply and demand. | market economy (capitalism) |
| an economic system in which both individuals and the government produce and sell goods. | mixed economy |
| the quantity of a product that is available and the market's desire for that product; the price of the product varies based on supply and demand. | supply and demand |
| in the economic cycle (or business cycle), the period of economic growth and expansion. | prosperity |
| in the economic cycle (or business cycle), the period following a recession during which the value of goods and services rises. | recovery |
| more goods being produced than being sold; leads to a decrease in production, which leads to increased unemployment. | overproduction. |
| tariffs | taxes on imported goods |
| a system of using tariffs to raise the price of imported goods in order to protect domestic producers. | protectionism. |
| compensation from a defeated enemy for damages caused by war. In 1919, Germany was forced to pay these under the terms of the Treaty of Versailles. | Reparations (reparation payments) |
| buying shares 'on margin' with the expectation that the value of the shares will increase enough to pay back the loan and make a profit. | speculation |
| October 29, 1929 - when the New York Stock Exchanged collapsed. | Black Tuesday |
| Name given to relief payment by the Canadian government, soemtimes in the form of vouchers for food and other essentials. | pogey |
| an unemployed person who moves from place to place in search of work. | transient |
| to send back to one's country of origin. | deport |
| discrimination or hostility toward Jewish people | anti-Semitism |
| the opposite of inflation, it occurs when the price of goods and services falls. | deflation |
| a government in which the ruling party has more seats in the House of Commons than all other parties combined. | majority government |
| a 1935 rail trip from Vancouver to Ottawa (stopped at Regina) by unemployed men to protest conditions at employment relief camps. | On-to-Ottawa Trek |
| a riot that occurred when police attempted to clear On-To-Ottawa trekkers from a stadium in Regina. | Regina Riot |
| a series of programs, such as social assistance for the aged and unemployed, introduced by US President Roosevelt in the 1930s to deal with the Depression. | New Deal |
| laissez-faire | an economic condition in which industry is free of government intervention. |
| welfare state | a state in which the government actively looks after the well-being of its citizens. |
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pklassen
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