Stagflation
Definition of stagflation
What is a slow economy, rising inflation, and rising unemployment
Monetarism is directly related to this kind of policy
What is monetary policy
What is 1980
Who is Margaret Thatcher
The galaxy we live in
What is the Milky Wayyy
A major cause of stagflation
What is the 1970s oil shocks
The Anti-Keynesian school of thought through which Monetarism was born
What is Neoliberalism
Prior to his presidency, Reagan was governor of the state of
What is California
Head of the Fed 1979-1987 that helped bring down inflation during the Stagflation Era
Who is Paul Volcker
what is an orange
Stagflation proves this relationship wrong
What is the Phillips relationship
Monetary policy should be directed at changing the ____ _____
Money Supply
The theory of economics that lowering taxes for the wealthy will spread a positive affect down through the economy
What is the "Trickle Down Theory"
A famous economist who aimed to correct markets by influencing the money supply through monetary and fiscal policy
Dr. Plante's email is
what is dplante@western.edu
Energy prices as a whole increased by
What is 50%
Monetarism was accepted by both ________ and ________ and used as an experimental policy tool in their regimes
Who are Volcker and Thatcher
The Reagan administration created ________ jobs in during his administration.
What is 18.7 million
Also known as "The Gipper" or "The Great Communicator"
Who is Ronald Reagan
The amount of seconds in an hour
what is 3600 seconds
The oil cartel is responsible for the embargo on shipments of oil in 1973
What is OPEC (Organization of Petroleum Exporting Countries)
When the money supply decreases and interest rates rise, this is a largely likley outcome
What is recession
In one of the largest tax cuts in US history, Reagan cut $___________ in taxes
What is 335 billion
Economist who generally opposed Keynes and advocated for a free market economy as well as having a significant impact on monetarism
Who is Milton Friedman
How many months have 28 days
what is all of them