Chapter 14 Vocab
Terms
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- Red Scare
- Intense fear of communism and the other politically radical ideas
- Disarmament
- Program in which the nations of the world voluntarily give up their weapons
- Teapot Dome Scandal
- Scandal during the Harding administration involving the granting of oil drilling rights on government land in return for money
- Speculation
- The practice of making high-risk investments in hopes of getting a huge return
- Gross National Product (GNP)
- Total annual value of goods and services a country produces
- Installment Plan
- A payment plan that allows consumers to make payments at set intervals over a period of time until the total debt is paid.
- Consumer Economy
- An economy that depends on a large amount of spending by consumers
- Assembly Line
- Manufacturing process in which each worker does one specialized task in the construction of the final product
- Kellogg-Briand Pact
- Agreement signed in 1928 in which nations agreed not to pose the threat of war against one another
- Welfare Capitalism
- An approach to labor relations in which companies meet some of their workers' needs without prompting by unions, thus preventing strikes and keeping productivity high
- Isolationism
- Policy of avoiding political or economic alliances with for countries
- Quota
- A numerical unit
- Communism
- Official idealogy of the Soviet Union, charaterized there by complete government ownership of land and property, single-party control of the government, the lack of individual rights, and the call for worldwide revolution