26. What are four determinants of Price of Elasticity of Demand?
Four determinants of Price of Elasticity of Demand are substitutability, proportion of income,
luxuries versus necessities, and time.
27. What does price elasticity of demand measure? What d
Discuss and explain the four phases of the business cycle.
In a business cycle there are two primary phases, a recession period and an expansion period.
During these periods there are two turning points that take place which are called peaks and
Chapter 37- Triumph and Tragedy: America at the Turn of the Century
I. The Election of 1992
A. Bush vs. Clinton vs. Perot
II. President Clinton
A. The Economy
1. Tax Hikes- For corporations and upper income Americans
3. Newt Gingrich- Contract Wi
Chapter 34: New Frontiers: Politics, and Social Change 1960s
I. John F. Kennedy and the Cold War
A. The Election of 1960
The election of 1960 was one of the closest in American history. Television played a crucial role for the
-The campaign fe
Chapter 33- Conflict and Deadlock: The Eisenhower Years
I. Time for a Change
A. Twenty-second Amendment
B. Why We Liked Ike
C. A Balance of Terror
The backdrop of U.S. foreign policy was the growing capacity for mutually assured destruction ( mutual
Chapter 36- A Conservative Insurgency
I. The Reagan Revolution
A. The Election of 1980
1. Ronald Reagan
2. Hostages released after 444 days.
II. Reagan as President
A. Reaganomics- Trickle-down Theory
-Reagan reasoned that the cut would leave people with
I. Nixon as President: Vietnamizing the War
C. Cambodia (1970)
1. Kent State
II. Nixon Triumphant
A. July 1969- Moon Landing
Dtente- A French term meaning the relaxation of tensions between governments
1. China (19
Chapter 27- Republican Resurgence and Decline
I. The Business of Government
A. Republican Ascendancy
Warren Harding was elected president in 1920. Return to Normalcy.
The Harding administration promoted business interests.
B. Government Corruption
Chapter 30: The Second World War
I. WORLD WAR II
The United States had plunged into a truly global war that was being fought on six distinct fronts:
1. North Africa- The British vs. Italian and German armies that were trying to seize the Suez Canal
Chapter 31: The Fair Deal and Containment
I. Launching the Great Boom
A. Re-conversion Chaos
1. Wages and Strikes
B. Economic Policy
1. Employment Act of 1946
2. Taft-Hartley ActC. The GI Bill
The ramification on the education and working worlds was immen
Chapter 28: New Deal America
I. Launching the New Deal
A. Action Now!
1. Hundred Days- 15 pieces of major legislation during the first three months of his presidency.
2. Fireside Chats
B. Fiscal/Banking Policies:
1. Emergency Banking Act (1933)
Chapter 29: From Isolation to Global War
I. Rejecting War
A. Washington Naval Conference (1921)
B. Kellogg-Briand Pact (1928)
II. The Dilemmas of Neutrality
Americans in the 1930s wanted no part of another overseas war. According to a gallop pole taken in
Chapter 32- Through the Picture Window: Society and Culture, 1945-1960
I. A Decade of Affluence
A. People of Plenty
-Average wages rose faster than consumer prices in nine of eleven years between 1953 and 1964.
a. Massive military spending