Chapter+5+Vocab

Chapter 5 Vocab 1. Great Depression- the severe economic crisis of 1929-33 that was marked by mass unemployment, falling prices and a lack of spending 2. Cartel- an arrangement between businesses to control the market by exercising a joint monopoly 3. Imports- goods purchased from foreign countries 4. Exports- goods sold to foreign countries 5. Tariffs- taxes levied by an importing nation on foreign goods coming in, and paid by the importers 6. GNP- gross national product is the total value of all goods and services in a nation’s economy 7. Labor Market- comprises the supply of labor and the demand for labor from employers. These two forces within the labor market determine wage rates 8. Weltpolitik- “World policy” the imperial policy of Kaiser Wilhem II to make Germany a great power by overseas expansion 9. Siegfriede- “A peace throughout victory” referring to Germany fighting the First World War to victory and making major land gains 10. Vernunftrepublikaner- “A rational republican” used in the 1920s to define those people who really wanted Germany to have a constitutional monarchy but whom out of necessity, came to support the democratic Weimar Republic 11. Alliance- an agreement where members promise to support the other(s) if one of more of them is attacked 12.  Mutual Guarantee agreement- an agreement b/t states on a particular issue, but not an alliance 13.  Demilitarization- the removal of military personnel, weaponry or forts. The Rhineland demilitarized zone was outline by the Treaty of Versailles 14.  Arbitration treaty- an agreement to accept the decision by a third party to settle a conflict 15.  Annexation- seizing the territory of another country against international law