In the 1970s, our economy suffered from ________.
Inflation and stagnation
There were no recessions during the administration of ______.
Bill Clinton
Our longest uninterrupted economic expansion took place mainly in the decade of the ______.
1990s
In the 1990s our economy has generated more than _______ million additional jobs.
20
What set off the Great Recession?
The bursting of the housing bubble
The south had some very substantial economics grievances against the north in the years immediately preceding the civil war.
True
The massive shift of population and industry out of the large central cities from the late 1940s through the 1960s was caused by _______.
Suburbanization
Each of the following was a major contributing factor to suburbanization except ________.
Federal subsidies for public transportation
The economics downturn that began in December 2007 is the longest since the 1930s.
True
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."
Herbert Hoover
Although we got off to a rocky start, this country may well turn out to be another "American Century"
True
Our most rapid job growth was in the period from
1995-2000
If you old blame just one person or group of people that caused the Great Depression, which one of the following would you choose?
The federal reserve board
Each of the following happened during the Great Recession except _______.
A sharp rise in the inflation rate.
It is far too soon to say whether or not the 21st century will be another "American Century"
True
25 million Americans were officially unemployed in 1933
False
In the early 19th century the United States suffered from a scarcity of
Labor relative to land
Our economy expanded steadily from 1933 to 1945
False
Once the Great Depression began in 1929 are going to be moved all my steadily downhill until the beginning of 1940
False
Our economy has not had an unemployment rate below 5% since the early 1940s
False
There was a great deal of stagflation in the 1970s
True
Each of the following where elements of the new deal except _______.
A balanced budget
What best describes the post World War II recessions in the United States
Each was accompanied by deadline in output of goods and services and an increase in unemployment
At the time of the American Revolution about _______ of every 10 Americans lived on a farm
Nine
Between 1939 and 1944 federal government spending rose by more than
400%
Each of the following was a year of high am unemployment except _______.
1944
The year 2009 could be described as having had a relatively ______ unemployment rate and a relatively ______ rate of inflation
High, low
Between 1929 and 1933 output fell _______.
By about one third
The inflation rate declined during the presidency of _______.
Both Eisenhower and Reagan
What would be the most accurate description of our economy since the end of 2007?
We experienced the worst economic mess since the Great Depression
The transcontinental railroad's completed in the 1860s 1870s and 1880s all bypassed the _______.
South
Compared to our economic history between 1870 and 1945 our economic history since 1945 could be considered _______.
Much more stable
The longest economic expansion in our history began in _______.
The spring of 1991
The age of the great industrial capitalist like Carnegie Rockefeller and Swift was in the _______.
Fourth quarter of the 19th century
_______ completely changed the face of United States in the 25 years following World War II
Suburbanization
Medicare and Medicaid were inaugurated under the administration of _______.
Lyndon B Johnson
Most of the recessions since World War II lasted _______.
6 to 12 months
There was a major tax cut in 1964
True
Are economic growth began to slow markedly _______.
In the early 1970s
During World War II most of the people who got jobs and defense plants _______ were who had experience _______ building planes tanks and warships
Women, no