Ford, Carter, and the Economic Malaise: Crash Course US Hist

Front

According to John, at the beginning of the episode, the late 1970s were truly a period of momentous change. For most Americans...

Back

it sucked.

Answer explanation

According to John, the late 1970s were a period of momentous change. He described it as 'sucked', highlighting the correct choice.

Front

The big story of the 1970s was

Back

economics, as 25 years of broad economic expansion and prosperity came to a grinding halt.

Answer explanation

The big story of the 1970s was economics, as 25 years of broad economic expansion and prosperity came to a grinding halt.

Front

What sector of the American economy had been gradually declining, leading to an export deficit for the first time in the 20th century in 1971?

Back

Manufacturing

Answer explanation

The manufacturing sector in the American economy had been gradually declining, leading to an export deficit for the first time in the 20th century in 1971.

Front

One reason for this deficit was that the dollar was linked to _____, making it a strong currency but also making American products more expensive abroad.

Back

Gold

Answer explanation

The dollar was linked to gold, making it a strong currency but also making American products more expensive abroad.

Front

Which American president took the US off the gold standard in 1971?

Back

Richard Nixon

Answer explanation

Richard Nixon took the US off the gold standard in 1971. This decision ended the convertibility of the US dollar into gold, allowing the currency to float freely in the foreign exchange market.

Front

Besides the gold standard, which best describes the reasons that US manufacturing struggled to compete in the growing global economy? Cheaper labor costs in developing countries, Cheaper raw materials abroad, The growth of more productive economies.

Back

All of the above

Answer explanation

US manufacturing struggled to compete in the global economy due to cheaper labor costs, cheaper raw materials, and the growth of more productive economies. All of these factors contributed to the challenges faced by US manufacturing.

Front

Which group of US workers saw many of their high-paying manufacturing jobs eliminated, automated or shifted to workers in lower-wage regions of the U.S., or even overseas?

Back

Unionized workers.

Answer explanation

Unionized workers saw many of their high-paying manufacturing jobs eliminated, automated or shifted to workers in lower-wage regions of the U.S., or even overseas.

Front

The rust belt is found in what region of the US?

Back

The Midwest

Answer explanation

The rust belt is located in the Midwest region of the US, not the East Coast, South, or West Coast.

Front

In addition to long-term structural changes to the American economy and our demographics, the 1970s saw two ____ shocks that sent the economy into a tailspin

Back

Oil

Answer explanation

The 1970s saw two oil shocks that sent the economy into a tailspin. These shocks were in addition to long-term structural changes and demographic shifts.

Front

In 1973, in response to western support of Israel, which group of countries suspended oil exports to the U.S., leading to the price of oil quadrupling?

Back

Middle Eastern Arab states

Answer explanation

In 1973, Middle Eastern Arab states suspended oil exports to the U.S. in response to western support of Israel, leading to a quadrupling of oil prices.