Unit 2b

Question 1

Part 1 Definition
What is Economics?

Answer 1

Economics: study of how people use resources to make, buy, and share things. It looks at how goods and services are produced, used, and exchanged.

Question 2

Part 1 Definition
What is Scarcity?

Answer 2

Scarcity: the state of resources being in short supply.

Question 3

Part 1
Explain Demand Side Economics

Answer 3

• Government creates jobs
• People make more money
• People more likely to buy things
• Increase in demand
• Example: New Deal

Question 4

Part 1 Definition
What is Monetarism?

Answer 4

Monetarism: Less supply of money = more value
Basically control money supply
Believers: Milton Friedman

Question 5

Part 1
What is the difference between Monetarism VS Keynesianism?

Answer 5

Monetarism: Control money, limited gov.
Keynesianism: Govt. spend money, involved gov.

Question 6

Part 1 Definiton
What is supply side economics/trickle down economics?

Answer 6

Trickle-Down Theory
Idea that tax breaks for the wealthy will benefit everyone through job creation and investment.

Question 7

Part 1
Thatcherism and Reaganomics similiarities and differences

Answer 7

Similiarities
- Both on the right side, both wanted the wealthy to benefit
Differences
Thatcherism: UK policies emphasizing privitization and free markets.
Reaganomics: U.S. economic policies promoting tax cuts and deregulation.

Question 8

Part 2
What is the Cold War?

Answer 8

Cold War was about the Soviet Union and USA competing to see who could expand their ideology

Question 9

Part 2
How did the two superpowers try to expand their ideologies? And try to define them.

Answer 9

• Proxy War
• Containment
• Expansionism
• Espionage
• Arms Race
• Propaganda
• Space Race

Question 10

Part 2
What was the Iron Curtain?

Answer 10

A metaphorical separation between eastern (communist) and western (capitalist) Europe

Question 11

Part 2
What was the Red Scare?

Answer 11

Red Scare: A period of general fear of communists

Question 12

Part 2
What was the Yalta Conference?

Answer 12

A meeting between the “big three” (Stalin, FDR, Churchill) in which they decided to divide Germany into 4 zones. (Brit, French, Americans, Russians)

Question 13

Part 2
What was the Postdam Conference?

Answer 13

• The splitting of Berlin
• West Berlin (The cool dudes, like french, brits, merica)
• East Berlin (Soviet)

Question 14

Part 2
What was the Truman Doctrine?

Answer 14

Truman Doctrine: 1947, President Truman’s policy of providing economic and military aid to any country threatened by communism.

Question 15

Part 2
What was the Marshall Plan?

Answer 15

US provide aid to western europe’s economy after WW2 and help rebuild it. In exchange, Europe adopted the US free market policies

Question 16

Part 2 Definition
What is Containment?

Answer 16

resisting further expansion of communism around the world

Question 17

Part 2 Definition
What is Proxy War?

Answer 17

Fight one another by getting involved in other countrie’s conflict.

Question 18

Part 2 Definition
What is Brinkmanship?

Answer 18

threatening to go to war in response to any enemy aggression.

Question 19

Part 2
What is the Cuban Missile Crisis?

Answer 19

• Test of brinkmanship
• USA had nukes stored in Hungary
• USA bothered communist Cuba, so Cuba went to USSR and now USSR stored bombs in Cuba.
• Now they want each other to get rid of their bombs

Question 20

Part 2
What was McCarthyism?

Answer 20

an anti-communist movement in US.
intended to uncover and
persecute those with perceived ties to communism

Question 21

Part 3 Defintion
What is Positive Freedom?

Answer 21

• Freedoms “to…”
• Government intervention needed
• EXAMPLE: establishment of taxes and economic security by the government.

Question 22

Part 3 Definition
What is Negative Freedom?

Answer 22

• Freedom “from…”
• Free from government intervention.
  EXAMPLE: freedom of peaceful assembly

Question 23

Part 3 Definition
What is Neo-Conservatism?

Answer 23

a right-wing ideology that believes “progressive” modern liberal values have gone “too far”.

Question 24

Part 2 Defintion
What is Glasnost and Perestroika?

Answer 24

Glasnoss:
more openness, transparency and allowing more freedom of the press

Perestroika:
promoting free-market incentives to factories and small businesses (embracing aspects of capitalism)

Question 25

Part 3 What do Neo-Conservative believes?

Answer 25

- Support for a large military - Support a large private weapons industry - Support military action abroad - Support low taxes! - privatization of public services - excessive patriotism (or nationalism) - opposes globalism and internationalism (ex - America first) - traditional views about family, religion, sex and morality