12 Questions
What was the state of the American economy when Ronald Reagan took office in 1981?
The worst American economy since the Great Depression of the 1930s.
What were some of the factors that contributed to the economic woes of the 1970s?
The end of American manufacturers' global monopoly, an influx of baby boomers entering the workforce, high government spending, and oil crises of 1973 and 1979.
How did Reagan respond to the 1981 air traffic controllers' strike?
He deemed the strike illegal and ordered the workers to return to work within 48 hours.
How did Reagan's economic ideas compare to those of previous Republican governments?
They were similar, particularly to those of the laissez-faire governments of the 1920s.
What was the impact of the oil crises of 1973 and 1979 on the American economy?
They brought record high oil prices and shortages in supply.
What demographic change affected the workforce during the 1970s?
The entry of the baby boom generation into the workforce.
What event occurred in 1987 and 1989, similar to the Wall Street Crash in 1929?
The 1987 Crash and the 1989 Wobble
What was the main goal of Reagan's economic policy, also known as Reaganomics?
To restore prosperity by getting 'the government off the backs of the American people'
What was the cause of the Reagan Recession in 1981-1982?
The reduction in the money supply by Federal Reserve Chairman Paul Volcker
What was the perception of the poor during the Reagan administration?
They were seen as 'feckless' and 'lazy'
What were the main components of Reaganomics?
Cutting the federal deficit, tax cuts, deregulation, and control of the money supply
How did Reagan's economic policies compare to those of Harding and Coolidge?
They were similar in allowing the growth of large corporations, tax cuts, and encouraging stock market speculation
This quiz explores the state of the US economy when Ronald Reagan took office in 1981, including the challenges posed by global competition and demographic changes. Test your knowledge of this pivotal moment in American economic history!
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