Chapter 14
Terms
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- disarmament
- Program in which the nations of the world voluntarily give up their weapons
- speculation
- The practice of making high-risk investments in hopes of getting a huge return
- installment plan
- A payment plan that allows customers to make payments at set intervals over a period of time until the total debt is paid
- Gross National Product (GNP)
- Total annual value of goods and services a country produces
- 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
- quota
- A numerical limit
- 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
- consumer economy
- An economy that depends on a large amount of spending by consumers
- Red Scare
- Intense fear of communism and other politically radical ideas
- communism
- Official ideology of the Soviet Union, characterized 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
- isolationism
- Policy of avoiding political or economic alliances with foreign countries
- Teapot Dome scandal
- Scandal during the Harding administration involving the granting of oil-drilling rights on government land in return for money