Canadian Economic Concepts Quiz

A type of economy that combines elements of both free market and command economies. It involves government intervention in the market to provide things like social safety nets and redistribute wealth. An example of a mixed economy is a system where publicly owned Crown Corporations co-exist with privately owned businesses.

A term that describes a period of economic decline and stagnation. It is characterized by decreased production, high unemployment, and reduced consumer spending.

A theory that argues that the government should actively intervene in the economy to stimulate demand and stabilize the business cycle. This approach suggests that government spending and policies can influence economic growth.

An agreement between auto workers and companies (Ford, Chrysler, GM) in 1950 that provided benefits like healthcare, unemployment insurance, and pensions in exchange for avoiding strikes.

A system where the government takes an active role in promoting social welfare and protecting workers' rights. This includes social safety nets, healthcare, education, and unemployment insurance.

A form of economic system characterized by the expansion of government programs and social benefits to ensure a more equal distribution of wealth and opportunities.

A form of capitalism that includes government regulation and social welfare programs to protect workers and mitigate market failures.

A term that describes the cyclical pattern of economic upswings (expansions or booms) and downswings (recessions or busts) over time.

Government-owned businesses that operate in a competitive market.

The process of selling off publicly owned companies to private investors.

Financial assistance provided by the government to struggling companies to keep them in business.

Government programs aimed at helping individuals and families in need, such as the CPP, Employment Insurance, and Healthcare.

Money collected by the government through taxes and other sources to fund public services.

A healthcare system where everyone, regardless of income or wealth, has access to the same level of medical care.

The federal government's practice of transferring funds from wealthier provinces to less wealthy ones to reduce economic disparities.

Government policies involving the use of the national budget to influence economic activity, usually through taxes and spending.

A purge carried out by Hitler against his political opponents within the Nazi Party, orchestrated on June 30, 1934. It resulted in the execution of many, including prominent party officials, leading to the consolidation of Hitler's power.

The title assumed by Adolf Hitler after merging the offices of Chancellor and President in 1934, signifying his absolute and supreme leadership of Germany.

The system of roads constructed in Germany under the Nazi regime, creating jobs and stimulating economic growth.

The scapegoating of the Jews by the Nazi regime, which became a central part of their ideology and played a crucial role in leading to the Holocaust.

A set of laws passed in 1935 by the Nazi regime, designed to strip Jews of their rights and segregate them from German society.

This event refers to the night of November 9, 1938, when Nazi-led mobs attacked Jewish businesses and synagogues across Germany. This marked a turning point in violent anti-Semitism and a prelude to the Holocaust.

This is the Nazi paramilitary organization that was involved in the persecution of Jews and carried out acts of violence during Kristallnacht.

This term refers to the process of spreading negative information and lies about a group to manipulate public opinion and incite hatred towards them.

The intense rivalry and competition between superpowers, primarily the USA and USSR, during the Cold War. This rivalry focused on building up military strength, particularly nuclear weapons, to outdo the other.

A strategy where one nation pushes another to the brink of war, hoping they will back down rather than risk a full-scale conflict. This relies on the threat of retaliation and potential escalation.

The idea that if two adversaries use nuclear weapons against each other, both will be completely destroyed. This principle acts as a deterrent, discouraging the use of such weapons due to the guaranteed mutual destruction.

The period of heightened tension in 1962 when the Soviet Union attempted to place nuclear missiles in Cuba, just off the coast of the United States. This event brought the world closer than ever to nuclear war.

The failed attempt by Cuban exiles, backed by the United States, to invade Cuba and overthrow Fidel Castro in 1961. This embarrassing incident for the US contributed to the escalating Cold War tensions.

The alliance formed between Cuba and the Soviet Union starting in 1959. This alliance saw significant economic investment from the Soviets into Cuba, further increasing tensions with the United States.

The USA attempted to regain control over Cuba as part of its sphere of influence after Fidel Castro's communist revolution in 1959. This led to various attempts to overthrow the new government.

Held in July 1945, this meeting of the three superpower leaders aimed to establish post-war policies for Germany, handling the war with Japan, and navigating the tense atmosphere of the emerging Cold War. This meeting foreshadowed the growing distrust between the United States and the Soviet Union, especially regarding the fate of Germany and Poland.

A term coined by Winston Churchill in 1946, this phrase describes the division between Eastern and Western Europe after World War II. It symbolized the separation of communist nations under Soviet influence from the Western nations aligned with the United States.

During the Cold War, both the United States and the Soviet Union sought to increase their political, economic, and territorial influence globally. This meant expanding their spheres of influence, often by supporting friendly nations or ideologies.

Also known as 'satellite states,' these nations of Eastern Europe were under the political and economic control of the Soviet Union after World War II. They were essentially puppets of the Soviet government, subject to its influence.

The rivalry between the USA and the USSR after WWII, marked by mistrust and political, economic, and ideological clashes. It was not a direct war between these superpowers but a period of indirect conflicts and global tensions.

During the Cold War, propaganda and rhetoric were used by both the USA and USSR to promote their ideologies and demonize the opponent. This involved employing words and images to shape public opinion and create a sense of fear and suspicion towards the 'enemy.'

The period of intense anxiety and paranoia in the US during the Cold War, fueled by the fear of communist infiltration. Led by Senator Joseph McCarthy, this anti-communist fervor resulted in accusations and investigations of suspected communist sympathizers.

The widespread fear and anxiety in the United States during the Cold War, fueled by the threat of nuclear war and the spread of communism. It was a heightened state of apprehension and distrust towards anything associated with communism.

A period in 1968 where Czechoslovakia attempted to reform its communist system, emphasizing individual liberties under the leadership of Alexander Dubcek. This movement, known as the "Prague Spring", was ultimately crushed by a Soviet invasion due to concerns about the potential loss of Soviet influence in the region.

A period of conflict between the USSR and Hungary in 1956 that resulted in the suppression of the Hungarian Revolution and the restoration of Soviet control.

A Soviet policy declared in 1968 by Leonid Brezhnev that affirmed the USSR's right to intervene militarily in any Soviet-aligned country that threatened the stability of the Soviet Bloc.

A Polish trade union formed in 1980 that challenged the Soviet-controlled government. It was the first independent trade union in a communist country and played a significant role in the eventual fall of communism in Poland.

A group of nations that chose not to align themselves with either the USA or the USSR during the Cold War. They advocated for independence and autonomy.

A conference held in Indonesia in 1955 that served as a platform for newly independent nations to promote their shared interests and advocate for non-alignment during the Cold War.

The dominant influence or control of one country over others. In the context of the Cold War, it referred to the USA and the USSR vying for political control over various nations.

A type of communist ideology advocated by Alexander Dubcek in Czechoslovakia during the Prague Spring that sought to combine communist principles with greater individual liberties and reforms. It was a departure from the traditional Soviet-style communism.