Stock Market Crash: The significant decline in stock prices that occurred in October 1929, marking the beginning of the Great Depression.
Volunteerism: Hoover's approach to addressing economic issues by encouraging private citizens and businesses to voluntarily contribute their resources rather than relying on government intervention.
Hawley-Smoot Tariff Act: A protectionist trade policy enacted under Hoover's administration, which raised tariffs on imported goods, ultimately worsening global economic conditions.