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61 Cards in this Set

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  • Back
  • 3rd side (hint)
If the economy was in a Depression, what can the government do to help the economy?
Deficit Spending or other fiscal policies
what does deficit spending do to the economy?
it primes the economic pump;
governement spendign puts money into the economy to get jobs and money out of it.
When is the only time the Government should run deficits?
Only during BAD TIMES.
hmm..... running deficits pumps money into the economy therefore producing jobs and money.
What should the government run during good times in the economy?
SURPLUSES!
In good times.. the government would be prospering.. and therefore.. have money left over.. called.. ______. :-)
The overall goal of running surpluses and deficits is what?
So over the long run the budget will be balanced.
Who was the first 0% guy?
Paul Volcker
1st ___ ______ .. then Alan Greenspan.. then Ben Bernanke
The founder of Monetarist economic school
Milton Friedman
chicken ____ steak... ??
Inflation/recession is measured by what?
CPI- Consumer Price Index
_ _ _ .. no hint
Fiscal stimulus
government spending" "
Use budget deficits as a _______ to .. ?
Trojan Horse
force program cuts in the future
Stagflation is?
Inflation without growth
Reagan reigned from what year to what year?
1981-1988
Tax cuts of 25% over 3 years were called what?
Kemp/Roth tax cuts
what the idea behind Kemp/Roth tax cuts?
Encourage people to work harder, produce, save, invest more and EXPAND THE ECONOMY.
Reagan claimed to be following ______ lead and had congress lower marginal income tax rates from what max? and yaer
JFK's 1962 lead

1982 - year mitr's max was dropped from 70% to 50%.
Clint's two new rates were ____ and _____?
36% and 39.6%
only gross adjusted 1993 incomes over $250K were taxed at 39.6 in 1993.
In 1986, the highest rate would go down to ___ with only two other rates of ___ and ___ .
Highest = 31%
only other two rates of 28% and 15%
one of the numbers is x-13=y
and the reverse of the difference of x and y is the highest
2005 Tax returns the highest rate is ___ for people over ______ income
35% for people over 326000
SINCE THE MID 1990'S the acceptable inflation rate has been:
2 to 4 PERCENT!.. KNOW THIS
YOU BETTER KNOW THIS YOU SON OF A BITCH!!
Acceptable Unemployment rates are what?
5-7 PERCENT.. KNOW THIS TOO!
A HOLE
Gross Domestic Product is what?
The value of all goods and services produced in the US in 1 year
What amount of money is produced from GDP in one year?
about 11 TRILLION DOLLARS!!
Gor GOod GOb Greation, what should be at what percentage?
The GDP should be above 3% for good job creation.
Supply siders such as _______ influenced Reagans rational expectations decision
Laffer. His supply side curve biggest tax cuts go to rich b/c they produce jobs and trickle opportunity down.
Reagan had 3 rates or __ __ and __ , Clinton added two rates of __ and __.
Reagan - 15, 28 and 31
Clinton added - 36% and 39.6%
Bush (2006) altered these tax rates with __ __ __ __ __ __ .
15,25,28,33 and 35!!!
get to memorizin mo fo.
KEYNES is associated with what?
Proposing the countercyclical measures involving Government Spending.
Keynesian deficit spending is also associated with:
the phrase "priming the economic pump"
water ___
_____ing water out of a pond.
Volcker served as FED from when to when?
1979 to 1987
Reagans economic expansion began when?
January of 1983
the year your bro was born.
What year did the Bush-Clinton expansion begin?? huh? huh? do you kno that??
From March 1991 to March 2001
Maintaining world order refers to what situations
overthrowing saddam
trying to kill:
khadafy/Bin Laden
nuke proliferation N.Korea/iraq
Marshall Plan: from when to when and which plans to promote free trade?
To rebuild Europe from 1949 to 1952
GATT/NAFTA/WTO
What and when was this group formed to deter the Soviet's aggression into Western Europe?
1949, NATO
Corollary
Roosevelt
duh!
Failed the League of Nations
Wilson
Oklahoma
Kennan containment policy
TRUMAN
it's a show
NATO(1945) and signed into UN in SF, HQ in NY
Truman
prickly hair
Marshall Plan
truman
Ma= 2nd to last 2 letters..
_____ _ _ n
Massive Retaliation Creator
Eisenhower
einstien
CIA
Eisenhower
covert ops n groovy stuff like that
above ground test ban treaty
Kennedy
_ F _
Hotline to Moscow
Kennedy
Negotiated GATT changing economic policy
Kennedy
Changed eisenhower's MASSIVE RETALIATION TO FLEXIBLE RESPONSE
kennEDy
@*#klJDf )
Vietnam on his mind
Johnson
Containment Policy to justify presence
johnson
Troops to Domincan Republic - Roosevelt Corollary
Johnson
Opening to China 1971/ MAD/ SALT I?
NIXON
Changed eisenhower's MASSIVE RETALIATION TO FLEXIBLE RESPONSE
kennEDy
@*#klJDf )
Vietnam on his mind
Johnson
Containment Policy to justify presence
johnson
Troops to Domincan Republic - Roosevelt Corollary
Johnson
Opening to China 1971/ MAD/ SALT I?
NIXON
opening to China-1971/ MAD-mutually assured destruction policy. SALT I-forbade dev. Of comprehensive missile defense system.
NIXON
Vietnam on his mind/ containment policy to justify presence there/ troops to Dominican Republic- make sure our president won there – the Roosevelt corollary
Johnson
passed panama canal 1978/Camp David agreements (1980)/encouraged Egypt-Israel sign peace treaty/finished Nixon’s opening to china by exchanging ambassadors with commy china (1978)/ LET America hostages be in Iran for 444 days
Carter
FACE down EVIL EMPIRE (Soviet Union) /hurried to build SDI policy intimidate sovs/Negotiated INF-Intermediate Nuclear Force/75-1500mile range/ orbachev:zero option with on-site inspection/ Goldwater-Nichols act
Reagan
Berlin wall/ Removed Noriega from Panama/assembled Gulf War Coalition
BUSH 1
Promoting economic foreign policy: GATT/NAFTA/military force in Bosnia, Haiti, Kosovo / promote peace efforts in Middle East & N. Ireland
CLINTON
Aftermath of 9/11/ Axis of Evil:Iran,Iraq & N. Korea/ Iraq ex. Of “preemptive” war
BUSH2