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Dow Jones Average
Dow Jones Average indicators used to measure and report value changes in representative stock groupings on the New York stock exchange . There are four different averages—industrial stocks, transportation stocks, utility stocks, and a composite average of all three. The index was started in ...
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panic
panic crisis in financial and economic conditions, marked by public loss of confidence in the financial structure. Panics are characterized by a general rush of investors to convert their assets into cash, with runs on banks and a rapid fall of the securities market. Bank failures and bankruptcies ...
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Great Depression
Great Depression in U.S. history, the severe economic crisis supposedly precipitated by the U.S. stock-market crash of 1929. Although it shared the basic characteristics of other such crises (see depression ), the Great Depression was unprecedented in its length and in the wholesale poverty and tr...
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speculation
speculation practice of engaging in business in order to make quick profits from fluctuations in prices, as opposed to the practice of investing in a productive enterprise in order to share in its earnings. The term is sometimes applied to investment in a venture involving abnormal risks along with...
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margin requirement
margin requirement that part of a security's price that a buyer must pay for in cash. The balance of the price is met by the broker, who, in effect, is supplying a client with a loan. The smaller the margin, the greater the inducement to speculation. Low margin requirements were considered an impor...
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stock exchange
stock exchange organized market for the trading of stocks and bonds (see bond ; stock ). Such markets were originally open to all, but at present only members of the owning association may buy and sell directly. Members, or stock brokers , buy and sell for themselves or for others, charging comm...
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depression
depression in economics, period of economic crisis in commerce, finance, and industry, characterized by falling prices, restriction of credit, low output and investment, numerous bankruptcies, and a high level of unemployment. A less severe crisis is usually known as a recession, a more common oc...
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Herbert Clark Hoover
Herbert Clark Hoover 1874-1964, 31st President of the United States (1929-33), b. West Branch, Iowa.
Wartime Relief Efforts
After graduating (1895) from Stanford, he worked as a mining engineer in many parts of the world. He became an independent mining consultant and established offices ...
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Aba
Aba , city (1991 est. pop. 264,000), SE Nigeria. It is an important regional market, a road and rail hub, and a manufacturing center for cement, textiles, pharmaceuticals, processed palm oil, shoes, plastics, soap, and beer. Originally a small market town, Aba was developed by the British as an admi...
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Lionel Charles Robbins
Lionel Charles Robbins 1898-1984, British economist, b. Middlesex, England. A professor at the London School of Economics (1929-61), he wrote the well-known methodological treatise, An Essay in the Nature and Significance of Economic Science (1932). A supporter of the free market system and an op...
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