Chapter 14
Terms
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- disarment
- Program in which the nations of the world voluntarily give up their weapons
- Red Scare
- Intense fear of communism and other plitically radical ideas
- quota
- numerical limit
- 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
- 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
- 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
- speculation
- The practice of making high-risk investments in hopes of getting a huge return
- Teapot Dome Scandal
- Scandal during the Harding administration involving the granting of oil-drilling rights on government land in return for money
- Gross national Product (GNP)
- Total annual value of goods and services a country produces
- 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
- isolation
- Policy of avoiding political or economic alliances with foreign countries