Stagflation Causes
What are 3 elements of Stagflation
What are
"high inflation"
"high unemployment"
"stagnant/ negative growth"
Who was the Federal Reserve Chair who fought inflation in 1979?
Who is "Paul Volcker"?
What was Reagan's main economic policy called?
What is "Reagonomics?"
(Supply-Side Economics is acceptable too)
Which economic theory's key model failed during stagflation?
What is the "Phillips Curve"?
Which economist inspired Volcker's Policies with monetarist ideas?
Who is "Milton Friedman"?
Who was the British Prime Minister who introduced austerity policies that were similar to monetarism in the U.S?
Who is "Margaret Thatcher"?
What international event caused the first major oil shock in 1973?
What is the "OPEC oil Embargo"?
What is the equation that summarizes the monetarism's view of inflation?
What is
"P × Y = M × V (Price × Output = Money Supply × Velocity)" ?
What were the main tools of supply-side economics?
What are
"tax cuts"
"investment incentives"
"deregulation"
What was the second oil shock caused by in 1979?
What was the nickname given to the recession in 1981 to 1982 regarding the tight money policies?
What was the "Volcker Shock"?
How much was Reagan's 1981 Tax Cut, and who benefited the most?
What is "355 Billion Tax Cut"
and or
"Upper-income earners"
"Corporations"
Why did aspects of Keynesian policies fail during the 1970's?
What is
"stimulus spending"
"increased inflation"?
What happens to inflation and unemployment as a result of Volcker's policy?
OR
"Unemployment rose"?
What was the major criticism of Reaganomics and Thatcherism?
What is "increased inequality"
or
"national debt"?