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1945
1950
1960
1945-1970
100
Economic problems that resulted with the transition from a wartime to a peacetime economy.
What is Reconversion?
100
A country's military establishment that produces military materials/arms.
What is Military Industrial Complex?
100
-First envisioned by JFK in 1963 -Initially rejected by Congress -Was passed under Lyndon B. Johnson
What is the Revenue Act of 1964?
100
Placed an embargo on their oil. Made oil prices to increase from 3$ to 12 $ per barrel Caused by US aid to Israel during the Yom Kippur War.
What is OAPEC?
200
Largest strike in the US that took place when 2 million workers quit their jobs at different times during the year.
What is Strike Wave?
200
Wrote a Farewell Address where he warned the dangerous combination of the military and industrial sector.
Who is Eisenhower?
200
The year when the oil crisis occurred.
What is 1973?
200
33rd US President who eliminated price controls.
Who is Truman?
300
Institution in the United Nations system and has a goal of raising living standards in their member countries.
What is IMF (International Monetary Fund)?
300
It was a period of economic prosperity in the mid-20th century.
What is Industrial Economy Boom?
300
Oil prices increased from $3 to $___ per barrel
What is $12
300
Ended the Industrial Economy Booms.
What is the collapse of the Bretton Woods?
400
Provides policy advice and technical assistance to help countries design and maintain strong economies.
What is World Bank?
400
It regulates labor union’s internal affairs and official’s relationships with employers.
What is LMRDA?
400
It is the steady erosion of the industrial base of the United States Caused by cheap industrial imports from other countries and the transformation of the US Economy US industries began to relocate to places such as South Korea in order to hire cheap labor.
What is Onset of deindustrialization?
400
It is a term used in economics to describe a situation where the inflation rate is high, the economic growth rate slows down, and unemployment remains steadily high.
What is Stagflation?