Civics Honors - Chapter 20 (Economic Challenges)

The name for a period of time when the Gross Domestic Product is declining from year to year.

Two consecutive calendar quarters of negative Gross Domestic Product growth.

What are these workers doing?

Who was president of the USA when the Great Depression started?

A severe recession marked by significant decreases in income and employment.

When workers walk off the job and refuse to work.

Economic philosophy that explains the government's lack of action when the Depression began.

Who is responsible for the USA's fiscal policy?

Which of the following typically DOES NOT HAPPEN in an expanding economy?

Who is responsible for the USA's monetary policy?

The government's fiscal policy tools are _________ and _________.

The 1935 law that recognized the right of workers to form unions.

A group of workers banded together to negotiate higher pay and better working conditions.

TRUE/FALSE? Modest inflation is common in an expanding economy.

Attempting to influence the economy by manipulating the money supply.

On a graph: (1) highest point of expanding economy; (2) lowest point of contracting economy.

The Fed conducts "open market operations" when it __________.

FDR's increase in government spending durng the depression was an example of the use of _____

Amount of money banks are required to have on hand to cover customer withdrawals.

Prior to the Great Depression, ___ ___ created a bubble, with irrationally high stock prices.

When an employer refuses to allow workers to enter the work site.

The name for a work site where all workers are required to join the union.

If the Fed lowers the reserve rate, what happens to the money supply in the economy?

The name for a period of time when the Gross Domestic Product is rising from year to year.

This is the interest rate that the Fed charges its member banks.

The right of a union to bargain on behalf of a group of workers.

TRUE/FALSE? Today, the USA's economy is a pure "laissez faire" capitalist economy.

NOT one of the tools of monetary policy.

The name of FDR's program for raising the economy out of the Great Depression.

The name for manufacturing in people's homes at the beginning of the industrial revolution.