History Since 1865 Vocab Terms

History Since 1865 Vocab Terms - Stagflation Definition: A...

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Stagflation Definition: A term created in the 1970’s during Nixon’s presidency to describe the economic state of stagnation and inflation occurring at the same time. Before this time, these two economic problems had never occurred together. Some democrats labeled in “Nixonomics”. Significance: Nixon decided that unemployment was a greater threat than inflation. He announced himself as a Keynesian and adopted a deficit budget designed to stimulate the growth of jobs. He also announced that he would provide short-term relief: wages and prices would be frozen for 90 days in 1971. For a year deferral wage and price boards enforced the ground rules for any increases until the economy grew again. Watergate Scandal-more? Definition: There was a break in at the National Democratic Headquarters in the Watergate office building in Washington D.C. in 1972. On June 17, 1972, Nixon was found to be covering up for this break in. Significance: Uncovering this showed plans for presidential abuse of power all over. Nixon was forced to reveal tapes of secret meetings that showed him lying, being racist, cursing, etc. Nixon was forced to resign, as he would have been impeached if he did not. Pentagon Papers Definition: Daniel Ellsberg, a pentagon official, leaked papers (from Johnson administration) about Vietnam in 1971. They were published in the New York Times and other papers. Significance: Proved that the government had been lying about the United Stats involvement with the Vietnam War. This decreased the people’s faith in the government. ERA (1972) – Equal Rights Amendment Definition: An amendment that forbade all discrimination on the basis of gender. In 1972 both the House and the Senate passed the Equal Rights Amendment virtually without opposition. Significance: Caused significant backlash within the community of more conservative
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This test prep was uploaded on 03/20/2008 for the course HIST 112 taught by Professor Trotti during the Fall '07 term at Ithaca College.

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History Since 1865 Vocab Terms - Stagflation Definition: A...

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