A Changing Economy - AP U.S. History
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What is the term for a prolonged period of economic decline?
What is the term for a prolonged period of economic decline?
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Depression. Severe economic downturn lasting longer than a recession.
Depression. Severe economic downturn lasting longer than a recession.
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What was the purpose of the Social Security Act of 1935?
What was the purpose of the Social Security Act of 1935?
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To provide financial assistance to the elderly and unemployed. Created the first federal safety net for vulnerable populations.
To provide financial assistance to the elderly and unemployed. Created the first federal safety net for vulnerable populations.
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What economic policy is characterized by minimal government intervention?
What economic policy is characterized by minimal government intervention?
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Laissez-faire. French term meaning 'let it be' - free market economics.
Laissez-faire. French term meaning 'let it be' - free market economics.
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What was a major consequence of the Dust Bowl during the 1930s?
What was a major consequence of the Dust Bowl during the 1930s?
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Mass migration of families from the Great Plains. Severe drought and poor farming practices displaced thousands.
Mass migration of families from the Great Plains. Severe drought and poor farming practices displaced thousands.
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Which act aimed to stabilize the banking system during the Great Depression?
Which act aimed to stabilize the banking system during the Great Depression?
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Emergency Banking Act. Roosevelt's first action to restore confidence in banks.
Emergency Banking Act. Roosevelt's first action to restore confidence in banks.
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What was the main goal of the Taft-Hartley Act of 1947?
What was the main goal of the Taft-Hartley Act of 1947?
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To restrict the activities and power of labor unions. Reduced union power and allowed states to ban closed shops.
To restrict the activities and power of labor unions. Reduced union power and allowed states to ban closed shops.
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Which event marked the beginning of the Great Depression?
Which event marked the beginning of the Great Depression?
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Stock Market Crash of 1929. Black Tuesday devastated the economy and triggered widespread unemployment.
Stock Market Crash of 1929. Black Tuesday devastated the economy and triggered widespread unemployment.
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Which term describes the economic policy of high tariffs to protect domestic industries?
Which term describes the economic policy of high tariffs to protect domestic industries?
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Protectionism. Uses trade barriers to shield domestic producers from foreign competition.
Protectionism. Uses trade barriers to shield domestic producers from foreign competition.
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What is the term for the economic downturn that occurs after a high period of growth?
What is the term for the economic downturn that occurs after a high period of growth?
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Recession. Economic contraction characterized by declining GDP and employment.
Recession. Economic contraction characterized by declining GDP and employment.
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Identify the purpose of the Glass-Steagall Act of 1933.
Identify the purpose of the Glass-Steagall Act of 1933.
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To separate commercial and investment banking. Prevented risky speculation that contributed to 1929 crash.
To separate commercial and investment banking. Prevented risky speculation that contributed to 1929 crash.
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What economic policy is characterized by minimal government intervention?
What economic policy is characterized by minimal government intervention?
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Laissez-faire. French term meaning 'let it be' - free market economics.
Laissez-faire. French term meaning 'let it be' - free market economics.
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What is the term for a prolonged period of economic decline?
What is the term for a prolonged period of economic decline?
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Depression. Severe economic downturn lasting longer than a recession.
Depression. Severe economic downturn lasting longer than a recession.
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Which economic theory focuses on supply and demand as a driving force?
Which economic theory focuses on supply and demand as a driving force?
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Classical economics. Emphasizes free markets and minimal government interference.
Classical economics. Emphasizes free markets and minimal government interference.
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What was the purpose of the Social Security Act of 1935?
What was the purpose of the Social Security Act of 1935?
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To provide financial assistance to the elderly and unemployed. Created the first federal safety net for vulnerable populations.
To provide financial assistance to the elderly and unemployed. Created the first federal safety net for vulnerable populations.
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Which act established the Federal Reserve System in 1913?
Which act established the Federal Reserve System in 1913?
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Federal Reserve Act. Created the central banking system to regulate monetary policy.
Federal Reserve Act. Created the central banking system to regulate monetary policy.
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What is the primary function of the Securities and Exchange Commission (SEC)?
What is the primary function of the Securities and Exchange Commission (SEC)?
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To regulate the securities markets and protect investors. Prevents fraud and ensures fair trading practices in financial markets.
To regulate the securities markets and protect investors. Prevents fraud and ensures fair trading practices in financial markets.
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Which agency was created to insure bank deposits during the New Deal?
Which agency was created to insure bank deposits during the New Deal?
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Federal Deposit Insurance Corporation (FDIC). Restored public confidence in banking system after widespread failures.
Federal Deposit Insurance Corporation (FDIC). Restored public confidence in banking system after widespread failures.
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What was the main purpose of the Homestead Act of 1862?
What was the main purpose of the Homestead Act of 1862?
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To provide land to settlers at a low cost. Encouraged westward expansion by offering 160 acres for $10.
To provide land to settlers at a low cost. Encouraged westward expansion by offering 160 acres for $10.
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Identify the economic philosophy behind the New Deal.
Identify the economic philosophy behind the New Deal.
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Keynesian economics. Emphasized government spending during economic downturns.
Keynesian economics. Emphasized government spending during economic downturns.
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Identify a key feature of the Gilded Age economy.
Identify a key feature of the Gilded Age economy.
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Rapid industrialization and urbanization. Period of massive economic growth and technological advancement.
Rapid industrialization and urbanization. Period of massive economic growth and technological advancement.
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What was the purpose of the Wagner Act of 1935?
What was the purpose of the Wagner Act of 1935?
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To protect workers' rights to unionize and bargain collectively. Strengthened labor's ability to organize and negotiate wages.
To protect workers' rights to unionize and bargain collectively. Strengthened labor's ability to organize and negotiate wages.
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What did the term 'Robber Baron' refer to during the late 19th century?
What did the term 'Robber Baron' refer to during the late 19th century?
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Wealthy and powerful industrialists. Criticized for exploiting workers while amassing great wealth.
Wealthy and powerful industrialists. Criticized for exploiting workers while amassing great wealth.
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What is the main focus of fiscal policy?
What is the main focus of fiscal policy?
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Government revenue and spending. Government uses taxation and spending to influence economic activity.
Government revenue and spending. Government uses taxation and spending to influence economic activity.
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What economic challenge did the United States face in the 1970s?
What economic challenge did the United States face in the 1970s?
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Stagflation. Combination of high inflation and economic stagnation.
Stagflation. Combination of high inflation and economic stagnation.
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Which economic policy approach did President Reagan advocate in the 1980s?
Which economic policy approach did President Reagan advocate in the 1980s?
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Supply-side economics. Also called 'trickle-down economics' - tax cuts stimulate growth.
Supply-side economics. Also called 'trickle-down economics' - tax cuts stimulate growth.
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What was the primary effect of the Smoot-Hawley Tariff Act of 1930?
What was the primary effect of the Smoot-Hawley Tariff Act of 1930?
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It increased tariffs and worsened the Great Depression. Protectionist policy reduced international trade during economic crisis.
It increased tariffs and worsened the Great Depression. Protectionist policy reduced international trade during economic crisis.
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