Modern US #1 - Modern Economics (BM #4) - North Carolina Social Studies Games Question Preview (ID: 24778)


Modern US #1 - Modern Economics (BM #4) - North Carolina Social Studies Games- North Carolina Social Studies Games - Middle School - Www.socialstudiesgames.us - Lessons, Activities, PowerPoints, Resources, Lesson Plans - US History And World History - @mr. TEACHERS: click here for quick copy question ID numbers.

Who is to blame for the 2008 economic crisis (great recession)?
a) Banks for lending too much money
b) Banks for hiding bad loans with good loans and selling them to investors
c) Home Owners for taking loans they could not afford
d) Banks, Home Owners, Investors, and Government Deregulation.

Economic disaster in the late 2000s caused by over lending and over speculation in the US Housing Market.
a) NAFTA
b) Dot Com Bubble
c) Black Monday
d) The Great Recession

Stock Market Crash during the late 1990s. Investors poured millions of dollars into unknown tech companies.
a) Black Monday
b) Black Tuesday
c) The Housing Crisis
d) Dot Com Bubble

Which of the following is NOT a result of NAFTA?
a) US Factories shut down and moved to Mexico resulting in the loss of hundreds of thousands of american jobs
b) Goods were produced in Mexico at a lower price resulting in lower price of goods for US consumsers
c) Business owners were the clear winners because they lowered their production costs which led to more sales
d) Job opportunities were created in Mexico thus ending the need to illegally immigrate to the US

What did NAFTA remove between North American nations?
a) Tariffs
b) Laws
c) Peace Treaties
d) Embargo

How does the government create a national policy that follows Supply Side Economics?
a) Write laws that raise taxes
b) Write laws that cut taxes and eliminate business regulations.
c) Write laws that create new social welfare programs thus creating new jobs
d) Ask businesses to make more goods

What theory states that the economy will grow if the government makes it easier for businesses to provide goods and services?
a) Supply Side Economics
b) Demand Side Economics
c) Keynesian Economics
d) Obamanomics

Which of the following does NOT reveal the darker side of Reganomics?
a) deregulation of business led to an increase in pollution
b) defunding social welfare programs
c) Air Traffic worker went on strike for better working conditions, Reagan fired them all and replaced them with scabs
d) The rich got richer via low taxes and less regulation

How did Reagan plan on encouraging consumer spending or saving?
a) raising taxes
b) cutting taxes
c) funding social welfare programs
d) creating government jobs

Besides lowering taxes, how else did Reagan improve the economy during the 1980s?
a) Regulating Business practices
b) creating Strong regulations for investing
c) funding social welfare programs
d) deregulating Business

Which of the following is NOT a part of Reaganomics?
a) Strong Social Welfare programs
b) Big Military
c) Small Government
d) Low Taxes

What economic term describes 'High Inflation, High Unemployment, and no economic growth (stagnation)'?
a) Black Monday
b) depression
c) recession
d) stagflation

What term describes the US economic system where every dollar is backed a specific amount of gold?
a) Silver Standard
b) Gold Standard
c) FIAT Money
d) Nixon System

in THEORY, Which of the following would NOT be a result of President Nixon's choice to abandon the Gold Standard?
a) Inflation
b) More Dollars in the economy
c) More Spending leading to economic growth
d) The economy is unaffected by quitting the gold standard

When supply goes down what happens?
a) Price goes up
b) Price goes down
c) Price is unaffected
d) Demand goes up

Which of the following is NOT controlled by OPEC?
a) Oil
b) Gasoline
c) Petroleum
d) Diamonds

When supply goes up what happens?
a) Price is unaffected
b) Price goes up
c) Price goes down
d) Demand goes down

What cartel controls the world's supply of oil (or gasoline)?
a) NAFTA
b) OPEC
c) ISIS
d) United Nations

What is an agreement between competing firms to control prices or exclude entry of a new competitor in a market?
a) Monopoly
b) Cartel
c) Trust
d) Proprietorship

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