Modern History: Economics: Question Preview (ID: 22256)

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In the aftermath of 9/11 the US ............
a) returned to deficit spending as it paid for wars in Iraq and Afghanistan.
b) economy flourished as war spending stimulated the economy.
c) raised taxes.
d) ended Social Security.

This president was considered liberal, but ended up with a budget surplus.
a) Ronald Reagan
b) Barack Obama
c) Bill Clinton
d) Hillary Clinton

America became increasingly involved in the global economy when it....
a) joined the League of Nations.
b) refused to sign NAFTA because of working conditions in Mexico.
c) became isolationist.
d) entered trade agreements like NAFTA and GATT.

One concern about Social Security is that...
a) there may not be enough money in the system as Baby Boomers retire.
b) the elderly are refusing Social Security benefits.

Critics of Reaganomics called it trickle down economics because.....
a) they did not believe that cutting taxes for the wealthy would help working people.
b) the heavy regulations on businesses would only allow a small amount or trickle of wealth to reach the poor.

Reagonomics was based on the idea that....
a) Tax cuts make it more difficult for the government to properly carry out its duties and therefore hurt the economy.
b) Tax cuts would lead to greater investment and more job creation.
c) More federal regulation is good for the economy.
d) Government spending stimulates the economy, so we should spend more.

He was a conservative Republican who defeated Jimmy Carter in 1980.
a) Gerald Ford
b) Bill Clinton
c) George H.W. Bush
d) Ronald Reagan

Someone who wants to create more social programs like Medicare and Welfare would most likely be a:
a) Liberal
b) Conservative

Which of these is a reason for the rise of the conservative movement?
a) Desire for new Supreme Court justices to overturn rulings on abortion and school prayer.
b) Opposition to affirmative action.
c) Belief that the government had gotten too big and was spending too much.
d) All of the above.

One key accomplishment under Barack Obama has been....
a) the passage of healthcare reform.
b) the ending of illegal immigration.
c) a return to isolationism.
d) that Democrats and Republicans are cooperating with each other like never before.

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