Crash Course #43 (Ford Carter and the Economic Malaise) Video Questions

1. What did the presenter describe as the Big Story of the 1970s?
Economics.
2. What was the economic prosperity of the 1950s and 1960s replaced with?
Economic prosperity was replaced by inflation.
3. The presenter mentions long term systemic process and unexpected shock as
reasons for what became known as stagflation. Briefly describe the systemic
processes and the unexpected shock. The systematic process was how we could
help other countries. The downfall came in place when the process didnt let us
focus on our own.
4. How did US foreign policy after WWII contribute to the decline of american
industry?
It contributed by trying to improve things through passing bills and such.
5. What happened to the US economy for the first time in 1971? What was the
cause of this situation? Oil shortages, and oil problems.
6. What is stagflation, and what two economic components that cause this
condition?
When inflation rate is high, the economic growth rate slows down.
7. What prompted the Iranian Hostage Crisis?
Carter had supported the Shaw and people didnt like that, so they stormed the embassy
and took hostages, this lasted for more than a year.
8. How did the economic conditions of the 1970s impact President Carters attempt
at a second term in office? Everyone thought he was weak and couldnt do things
overseas.