Prosperity and Depression

Vocabulary flashcards covering key terms and concepts related to the economic and cultural impacts of World War I and the Great Depression.

Isolationism

A government policy of avoiding involvement in foreign affairs.

Protectionism

Economic policy of restraining trade between nations through tariffs on imported goods.

Roaring 20s

A period in the 1920s characterized by great prosperity and cultural flourishing in the United States.

Buying on margin

The practice of borrowing money to buy stocks, used by many investors during the stock market boom.

Black Tuesday

October 29, 1929, the day of the stock market crash that marked the start of the Great Depression.

Great Depression

A severe worldwide economic depression that took place mostly during the 1930s.

New Deal

A series of programs and reforms introduced by President Franklin D. Roosevelt to combat the Great Depression.

John Maynard Keynes

A British economist who advocated for increased government spending to stimulate economic recovery.

Smoot-Hawley Tariff Act

A law enacted in 1930 that raised tariffs on imported goods, leading to decreased trade and worsening the Depression.

Credit crunch

A situation in which there is a sudden reduction in the general availability of loans or credit.