question

In the 1970s, our economy suffered from ________.

answer

Inflation and stagnation

question

There were no recessions during the administration of ______.

answer

Bill Clinton

question

Our longest uninterrupted economic expansion took place mainly in the decade of the ______.

answer

1990s

question

In the 1990s our economy has generated more than _______ million additional jobs.

answer

20

question

What set off the Great Recession?

answer

The bursting of the housing bubble

question

The south had some very substantial economics grievances against the north in the years immediately preceding the civil war.

answer

True

question

The massive shift of population and industry out of the large central cities from the late 1940s through the 1960s was caused by _______.

answer

Suburbanization

question

Each of the following was a major contributing factor to suburbanization except ________.

answer

Federal subsidies for public transportation

question

The economics downturn that began in December 2007 is the longest since the 1930s.

answer

True

question

Who made this statement "once upon a time my opponents honored me as possessing the fabulous intellectual and economic power by which I created a worldwide depression all by myself."

answer

Herbert Hoover

question

Although we got off to a rocky start, this country may well turn out to be another "American Century"

answer

True

question

Our most rapid job growth was in the period from

answer

1995-2000

question

If you old blame just one person or group of people that caused the Great Depression, which one of the following would you choose?

answer

The federal reserve board

question

Each of the following happened during the Great Recession except _______.

answer

A sharp rise in the inflation rate.

question

It is far too soon to say whether or not the 21st century will be another "American Century"

answer

True

question

25 million Americans were officially unemployed in 1933

answer

False

question

In the early 19th century the United States suffered from a scarcity of

answer

Labor relative to land

question

Our economy expanded steadily from 1933 to 1945

answer

False

question

Once the Great Depression began in 1929 are going to be moved all my steadily downhill until the beginning of 1940

answer

False

question

Our economy has not had an unemployment rate below 5% since the early 1940s

answer

False

question

There was a great deal of stagflation in the 1970s

answer

True

question

Each of the following where elements of the new deal except _______.

answer

A balanced budget

question

What best describes the post World War II recessions in the United States

answer

Each was accompanied by deadline in output of goods and services and an increase in unemployment

question

At the time of the American Revolution about _______ of every 10 Americans lived on a farm

answer

Nine

question

Between 1939 and 1944 federal government spending rose by more than

answer

400%

question

Each of the following was a year of high am unemployment except _______.

answer

1944

question

The year 2009 could be described as having had a relatively ______ unemployment rate and a relatively ______ rate of inflation

answer

High, low

question

Between 1929 and 1933 output fell _______.

answer

By about one third

question

The inflation rate declined during the presidency of _______.

answer

Both Eisenhower and Reagan

question

What would be the most accurate description of our economy since the end of 2007?

answer

We experienced the worst economic mess since the Great Depression

question

The transcontinental railroad's completed in the 1860s 1870s and 1880s all bypassed the _______.

answer

South

question

Compared to our economic history between 1870 and 1945 our economic history since 1945 could be considered _______.

answer

Much more stable

question

The longest economic expansion in our history began in _______.

answer

The spring of 1991

question

The age of the great industrial capitalist like Carnegie Rockefeller and Swift was in the _______.

answer

Fourth quarter of the 19th century

question

_______ completely changed the face of United States in the 25 years following World War II

answer

Suburbanization

question

Medicare and Medicaid were inaugurated under the administration of _______.

answer

Lyndon B Johnson

question

Most of the recessions since World War II lasted _______.

answer

6 to 12 months

question

There was a major tax cut in 1964

answer

True

question

Are economic growth began to slow markedly _______.

answer

In the early 1970s

question

During World War II most of the people who got jobs and defense plants _______ were who had experience _______ building planes tanks and warships

answer

Women, no

Macroeconomics Ch. 1 – Flashcards

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