Boom to Bust - International Factors that Affected the US Economy (Leaving Cert History): Quizzes
📚Quizzes
Practise the questions
11 questions from this quiz
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Practise the questions
11 questions from this quiz
During which period did the US experience a great economic boom?
During which period did the US experience a great economic boom?
1945-68
What caused the first oil crisis in 1973?
What caused the first oil crisis in 1973?
OAPEC embargo over Israel support
What event triggered the second oil crisis in 1979?
What event triggered the second oil crisis in 1979?
Iranian Revolution
What is stagflation?
What is stagflation?
Stagnant growth, high inflation & jobless
When did deindustrialisation begin and accelerate?
When did deindustrialisation begin and accelerate?
Began late 1960s, sped up 1970s-80s
What was the Rust Belt?
What was the Rust Belt?
Northeast & Midwest manufacturing areas
Which countries provided major foreign competition to the US?
Which countries provided major foreign competition to the US?
Japan and Germany
What policy did Nixon use to combat inflation?
What policy did Nixon use to combat inflation?
Wage and price controls
What effect did high interest rates have?
What effect did high interest rates have?
Reduced inflation but slowed growth
What is a trade deficit?
What is a trade deficit?
Imports exceed exports
What did higher oil prices in the 1970s lead to?
What did higher oil prices in the 1970s lead to?
Inflation and higher costs