U4S3 Study Guide Review Game

Front

The US economy was largely affected by ___________ as organizations like OPEC made it more scarce/stop trading it with the US for various reasons.

Back

Oil

Front

President Nixon's effort to help the US economy in the 70s was called ____________ and involved giving federal tax dollars back to the state and local governments to use as they saw fit.

Back

revenue sharing

Front

Historically, the trend has been that when **oil prices** go up then **GDP** in the US goes down for a period of time before recovering.

Back

oil prices, GDP

Front

This is when there is a combination of high inflation and high unemployment.

Back

Stagflation

Front

President Ford attempted to help the US economy by telling Americans to clean their plate and guard their health as part his plan called ___________

Back

Whip Inflation Now

Front

This organization cut oil exports to the US in 1979 during Jimmy Carter's presidency.

Back

OPEC

Front

This was the name given to President Carter's program to end our dependency on foreign oil.

Back

MEOW

Front

This was the name give to how Ronald Reagan helped decided to help the US economy by cutting taxes on the wealthy and corporations so that it would increase the supply of goods and services.

Back

Supply-side economics

Front

In order to make up for the lost tax revenue with his tax cuts, Reagan cut government funding to what?

Back

Great Society Programs