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The Cold War: The Impact on the Global Economy

Description: The Cold War: The Impact on the Global Economy
Number of Questions: 14
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Which economic system was primarily associated with the United States and its allies during the Cold War?

  1. Capitalism

  2. Communism

  3. Socialism

  4. Mercantilism


Correct Option: A
Explanation:

Capitalism, characterized by private ownership of the means of production, was the dominant economic system in the United States and its allies during the Cold War.

Which economic system was primarily associated with the Soviet Union and its allies during the Cold War?

  1. Capitalism

  2. Communism

  3. Socialism

  4. Mercantilism


Correct Option: B
Explanation:

Communism, characterized by state ownership of the means of production, was the dominant economic system in the Soviet Union and its allies during the Cold War.

What was the name of the economic plan implemented by the Soviet Union in the 1920s to rapidly industrialize the country?

  1. Five-Year Plans

  2. New Economic Policy

  3. Great Purge

  4. Stalinist Revolution


Correct Option: A
Explanation:

The Five-Year Plans were a series of economic plans implemented by the Soviet Union in the 1920s and 1930s to rapidly industrialize the country.

What was the name of the economic policy implemented by the United States in the 1930s to combat the Great Depression?

  1. New Deal

  2. Fair Deal

  3. Great Society

  4. War on Poverty


Correct Option: A
Explanation:

The New Deal was a series of economic policies implemented by the United States in the 1930s to combat the Great Depression.

Which international organization was established in 1944 to promote international economic cooperation and stability?

  1. World Bank

  2. International Monetary Fund

  3. United Nations

  4. North Atlantic Treaty Organization


Correct Option:
Explanation:

The World Bank and the International Monetary Fund were established in 1944 to promote international economic cooperation and stability.

Which economic theory advocated for government intervention in the economy to manage demand and prevent economic fluctuations?

  1. Keynesian Economics

  2. Classical Economics

  3. Marxian Economics

  4. Austrian Economics


Correct Option: A
Explanation:

Keynesian Economics, developed by John Maynard Keynes, advocated for government intervention in the economy to manage demand and prevent economic fluctuations.

What was the name of the economic policy implemented by the United States in the 1960s to promote economic growth and reduce poverty?

  1. New Deal

  2. Fair Deal

  3. Great Society

  4. War on Poverty


Correct Option: C
Explanation:

The Great Society was a series of economic policies implemented by the United States in the 1960s to promote economic growth and reduce poverty.

Which economic crisis in the 1970s was characterized by high inflation, high unemployment, and slow economic growth?

  1. Great Depression

  2. Stagflation

  3. Oil Crisis

  4. Financial Crisis of 2008


Correct Option: B
Explanation:

Stagflation, a combination of high inflation, high unemployment, and slow economic growth, occurred in the 1970s.

What was the name of the economic policy implemented by the United States in the 1980s to reduce government spending and promote economic growth?

  1. New Deal

  2. Fair Deal

  3. Great Society

  4. Reaganomics


Correct Option: D
Explanation:

Reaganomics, a set of economic policies implemented by the United States in the 1980s, aimed to reduce government spending and promote economic growth.

Which economic crisis in the 2000s was characterized by a collapse in the housing market and a global financial crisis?

  1. Great Depression

  2. Stagflation

  3. Oil Crisis

  4. Financial Crisis of 2008


Correct Option: D
Explanation:

The Financial Crisis of 2008 was a global financial crisis characterized by a collapse in the housing market and a global financial crisis.

What was the name of the economic policy implemented by the United States in the 2000s to stimulate the economy and address the financial crisis?

  1. New Deal

  2. Fair Deal

  3. Great Society

  4. American Recovery and Reinvestment Act


Correct Option: D
Explanation:

The American Recovery and Reinvestment Act, passed in 2009, was a stimulus package aimed at stimulating the economy and addressing the financial crisis.

Which international organization was established in 1995 to promote global trade and economic cooperation?

  1. World Bank

  2. International Monetary Fund

  3. United Nations

  4. World Trade Organization


Correct Option: D
Explanation:

The World Trade Organization, established in 1995, is an international organization that promotes global trade and economic cooperation.

What was the name of the economic policy implemented by the United States in the 2010s to address the economic downturn caused by the financial crisis?

  1. New Deal

  2. Fair Deal

  3. Great Society

  4. Quantitative Easing


Correct Option: D
Explanation:

Quantitative Easing, implemented by the Federal Reserve in the 2010s, was a monetary policy aimed at addressing the economic downturn caused by the financial crisis.

Which economic crisis in the 2020s was characterized by a global pandemic and a sharp economic downturn?

  1. Great Depression

  2. Stagflation

  3. Oil Crisis

  4. COVID-19 Pandemic


Correct Option: D
Explanation:

The COVID-19 Pandemic, a global pandemic that began in 2020, caused a sharp economic downturn and had significant impacts on the global economy.

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