The Tempest, Act 1

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Installment buying:a commodity over a period of time. Thebuyer gains the use of the commodity immediately and then pays for it in periodic payments called installments.

Bull market:a market in which share prices are rising, encouraging buying.

Speculation:With only loose stock market regulations in place before the Great Depression, investors were able speculate wildly, buying stocks on margin, needing only 10% of the price of a stock to be able to complete the purchase.

Black tuesday:October 29, 1929. On this date, share prices on the New York Stock Exchange completely collapsed, becoming a pivotal factor in the emergence of the Great Depression.

FDR:Franklin Delano Roosevelt, commonly known as FDR, was an American statesman and political leader who served as the 32nd President of the United States from 1933 until his death in 1945

Fireside chat:is the term used to describe a series of 30 evening radio conversations (chats) given by U.S. President Franklin D. Roosevelt between 1933 and 1944.

First inaugural address:was delivered on Monday, March 4, 1861, as part of his taking of the oath of office for his first term as the sixteenth President of the United States.

First 100 day:The term was coined in a July 24, 1933, radio address by U.S. President Franklin D. Roosevelt, although he was referring to the 100-day session of the 73rd United States Congress between March 9 and June 17, rather than the first 100 days of his administration.

New deal:was a series of programs, including, most notably, Social Security, that were enacted in the United States between 1933 and 1938, and a few that came later.

Second new deal:was the Works Progress Administration (WPA). Created in 1935, the WPA was an effort to appease the “Longites” who clamored for more direct assistance from the federal government.

Keynesian economics:are the various theories about how in the short run, and especially during recessions, economic output is strongly influenced by aggregate demand

Trickle-down economics:argues for income and capital gains tax breaks or other financial benefits to large businesses, investors and entrepreneurs in order to stimulate economic growth.

Hooverville:was a shanty town built during the Great Depression by the homeless in the United States of America.

Dust bowl:also known as the Dirty Thirties, was a period of severe dust storms that greatly damaged the ecology and agriculture of the American and Canadian prairies during the 1930s;

business cycle: active economic growth for two consecutive quarters or 6 months following a recession or depression.

Herbert hoover:was an American politician who served as the 31st President of the United States from 1929 to 1933 during the Great Depression.

RFC: is a formal document from the Internet Engineering Task Force ( IETF ) that is the result of committee drafting and subsequent review by interested parties.

hawley-smoot tariff:was an act sponsored by SenatorReed Smoot and RepresentativeWillis C. Hawley and signed into law on June 17, 1930. The act raised U.S.tariffs on over 20,000 imported goods.

Recovery:an economic upturn

Relief:Is to give the impression that the sculpted material has been raised above the background plane.

reform:means the improvement or amendment of what is wrong, corrupt, unsatisfactory, etc. The use of the word in this way emerges in the late 18th century and is believed to originate from Christopher Wyvill's Association movement which identified “Parliamentary Reform” as its primary aim.

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