The Great Depression

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Price Support Law that keeps prices above a set level Credit Short-term loans to buy goods with promises to pay later Alfred E. Smith Democratic presidential candidate in 1928 Dow Jones Industrial Average Index of stock prices of select companies Speculation Investments in high-risk ventures buying on margin Buying stock by paying only a portion of the full cost up-front from promises to pay the rest later Black Tuesday October 29, 1929, the day the stock market crashed Great Depression Period of bad economic times in the U.S. that lasted from 1929 to 1941 Hawley-Smoot Tariff Act Law that raised taxes on imports and worsened the Depression