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Post-World War II Economic Policies and Trends Quiz

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Which economic concept refers to a period of declining economic activity across a national economy?

Recession

Explanation

Decline in national economic activity.

Which organization was established to promote economic cooperation and development among European countries?

European Economic Community (EEC)

Explanation

Promotion of European economic cooperation.

Which of the following is NOT a characteristic of a command economy?

Private ownership of property

Explanation

Absence of private property ownership.

Which international organization was established in 1995 to supervise and liberalize international trade?

World Trade Organization (WTO)

Explanation

Supervision and liberalization of international trade.

Which economic concept refers to a sustained increase in the general price level of goods and services in an economy?

Inflation

Explanation

Sustained increase in price levels.

Which economic theory advocates for government intervention to stabilize the economy?

Keynesian economics

Explanation

Government intervention for economic stability.

What was the primary aim of the Marshall Plan?

To provide aid for the reconstruction of Western Europe

Explanation

Reconstruction aid for Western Europe.

Which country adopted the policy of 'perestroika' and 'glasnost' in the 1980s?

Soviet Union

Explanation

Soviet policy reforms in the 1980s.

What was the Bretton Woods Agreement?

An agreement to establish the International Monetary Fund (IMF)

Explanation

Establishment of the IMF.

#10

Which of the following countries was part of the 'Miracle on the Han River'?

South Korea

Explanation

South Korea's economic success.

#11

What is the term used to describe the rapid economic growth experienced by many East Asian countries in the late 20th century?

Asian Tiger phenomenon

Explanation

Rapid East Asian economic growth.

#12

Which economic theory emphasizes the importance of supply-side policies such as tax cuts and deregulation?

Supply-side economics

Explanation

Emphasis on tax cuts and deregulation.

#13

What was the main objective of the Plaza Accord of 1985?

To stabilize exchange rates between major currencies

Explanation

Stabilization of exchange rates.

Post-World War II Economic Policies and Trends Quiz

Which economic concept refers to a period of declining economic activity across a national economy?

Which organization was established to promote economic cooperation and development among European countries?

Which of the following is NOT a characteristic of a command economy?

Which international organization was established in 1995 to supervise and liberalize international trade?

Which economic concept refers to a sustained increase in the general price level of goods and services in an economy?

Which economic theory advocates for government intervention to stabilize the economy?

What was the primary aim of the Marshall Plan?

Which country adopted the policy of 'perestroika' and 'glasnost' in the 1980s?

What was the Bretton Woods Agreement?

Which of the following countries was part of the 'Miracle on the Han River'?

What is the term used to describe the rapid economic growth experienced by many East Asian countries in the late 20th century?

Which economic theory emphasizes the importance of supply-side policies such as tax cuts and deregulation?

What was the main objective of the Plaza Accord of 1985?

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