Early United States
19th Century
20th and 21st
Centuries
Centuries
Protectionism
and Free Trade
and Free Trade
Globalization
200
Which founding father was the most influential when it came to the economy of the United States of America?
Who is Alexander Hamilton?
200
The economy of the South before the Civil War relied on this
What is agriculture?
200
What was another name for the prosperous times of the 1920s?
What are the Roaring 20s?
200
Which recent president is known for implementing tariffs?
Who is Donald Trump?
"I always say tariffs is the most beautiful word to me in the dictionary." - Donald Trump
(As a result of these tariffs, prices are expected to rise for consumers and the uncertain nature of these policies has also created uncertainty in the economy. Many people are unhappy with these tariffs.)
200
Define globalization.
What is global convergence of ideas and cooperation?
300
What was the purpose of joint stock companies?
What is to fund expensive projects too expensive for individuals to fund on their own?
(Multiple entities pooling their money together helped start colonies in America since they cost a lot of money.)
300
The economy of the North before the Civil War relied on this
What is manufacturing?
300
Free Points!!!
(Government involvement in the economy is great when there is an economic downturn, since it can boost the economy in accordance with Keynesian economics. While this does usually increase debt, this isn't always a serious issue, as many countries are in debt in the modern day.)
300
Are economists generally for or against tariffs?
What is economists are generally against tariffs?
300
Free Points!!!
(Globalization has had a positive impact on the American economy because it has decreased prices for consumers and allowed the economy to focus on things American has a comparative advantage in rather than having to produce most things domestically. People in some industries like car manufacturing have lost jobs as a result of free trade but free trade can also create new jobs.)
400
What did Jefferson and Madison want in exchange for allowing Hamilton to executive his financial plan?
What is to have the new capital to be in Virginia?
400
Time during which the Gilded Age is said to have been.
What is the late 19th century/second half of the 19th century?
400
Stimulus checks during the COVID-19 pandemic were an example of which economic policy?
What are Keynesian economics?
"Successful investing is anticipating the anticipations of others."
- John Maynard Keynes
400
NAFTA is the acronym of this
What is the North American Free Trade Agreement?
(The agreement allowed for free trade among its countries. The USA did see job losses in some industries, like car manufacturing, as a result of this agreement, but it also reduced prices for consumers, making it easier for people to buy things.)
400
What are some of the main arguments against globalization?
What are enables child labor, loss of cultures, small businesses struggle to compete with multinational corporations, loss of jobs in some sectors locally, etc.?
500
The main points of Hamilton's financial plan.
What is for the federal government to assume state debts, create a National Bank and a common currency, and fund the government through excise taxes on luxury goods and protective tariffs?
(The federal government follows these practices to this day, so Hamilton's financial plan continues to be very important in America.)
500
This president was the only Democrat elected during the Gilded Age.
Who is Grover Cleveland?
500
From which bank did the US government buy $20 billion in shares after the 2008 financial crisis?
What is Bank of America or Citigroup? (Buying bank shares was part of the government's Keynesian response to the 2008 financial crisis.)
500
What was the reason for the tariff of 1816?
What is to protect American goods from cheap British goods that could have flooded the market following the War of 1812?
(This tariff did not cause much controversy among Americans and had a lot of support due to the stronger sense of nationalism following the War of 1812.)
500
What does OPEC stand for?
What is the Organization of the Petroleum Exporting Countries?