Chapter 21 Terms
Terms
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- Moratorium
- a pause
- Ohio Gang
- Harding's old poker playing friends, who used their own positions to get pardons or protection from persecution
- Normalcy
- a return to nomal.
- Cooperative individualism
- President Hoover's policy of encouraging manufacturers and distributors to form their own organizations and volunteer information to the federal government in an efort to stimulate the economy.
- Assembly line
- divided operations into simple tasks that unskilled workers could do and cut unnecessary motion to a minimum.
- Supply-side economics
- theory that lower taxes will boost the economy as businesses and individuals invest their money, thereby creating higher tax revenue.
- Open shop
- a workplace where employees were not required to join a union.
- Isolationism
- the united states wanted to be left alone to pursue prosperity
- Immunity
- freedom from prosecution.
- Mass production
- large-scale product manufacturing usually done by machinery,created more supply and reduced consumer costs.