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100
Devaluation of ruble seemed bad but it encouraged what?
Domestic industry
100
What month in 2008 did the financial crisis hit?
September.
100
What was the second five year plan focused on?
Military.
100
What is a depression?
A particularly severe recession.
100
A is comprised of all the buyers and sellers.
Market
200
Putin put in place a flat income tax of how many percent?
13
200
What did putin’s policies due during the crisis?
They made the problem worse.
200
what did stalin do with first five year plan?
Agriculture collectivization
200
What is it called when exports exceed imports? When exports are less than imports?
Trade surplus, Trade deficit
200
A market with only a few sellers is called a(n)
Oligarchy.
300
Excessive resource dependence brought what?
Dutch disease
300
What did Russians establish to modernize themselves in response to the crisis?
Russian silicone valley
300
What was the soviet agency that managed labor camps?
Gulag
300
What is aggregation?
Aggregation is the combination of many different things into a single economic variable.
300
What does GDP stand for?
Gross domestic product
400
Russia controlled industry and forced decisions by what?
Pressure
400
What is a weakness of Russian manufactured goods?
They aren’t valuable on international market
400
What is inflation?
Inflation means that all the things people consume are becoming more expensive, inflation reduces purchasing power and makes people worse off.
400
The United States is generally dependent on trade than many other, smaller countries.
Less.
400
What are some natural resources?
Iron ore, petroleum, or natural gas reserves AND ALMOST ANYTHING A COUNTRY SUPPLIES !!!!!!!!!!!!!!!!!!!!!!!!!
500
How was the stock market in 2008?
Booming.
500
What resource was Russia overly dependent on?
Oil.
500
What is the unemployment rate?
Unemployment rate is the percentage of the labor force that would like to work but cannot find employment.
500
Expansions are periods of rapid and .
Growth and output.
500
What is a bank run?
When me and Sahil rob chase. Jk. When people fear losing money and withdraw it from the bank
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