Market Challenges 1

Get Started. It's Free
or sign up with your email address
Market Challenges 1 by Mind Map: Market Challenges 1

1. the Great Depression

1.1. lasted ten years

1.2. began with the dramatic crash of the stock market on "Black Thursday", October 24, 1929

1.3. North America, Europe, and other industrialized areas of the world

2. the new deal

2.1. responded to needs for relief, reform and recovery from the Great Depression

2.2. established by Roosevelt

3. economic bill of rights

3.1. Roosevelt suggested a second bill of rights and said the country needed it

4. National Recovery Administration

4.1. goal was to eliminate "cut-throat competition" by bringing industry, labor, and government together to create codes of "fair practices" and set prices

5. The Federal Reserve

5.1. central banking system of the USA

6. the Great Recession

6.1. period of general economic decline observed in world markets during the late 2000s and early 2010s

7. recession

7.1. 2 quarters contraction

8. depression

8.1. 10% +

8.2. related to unemployment

9. John M. Keynes

9.1. "in the long run we are all dead"

9.2. hey said that contractions will happen and expansions will happen frequently

9.3. eventually there will be a high and then low and vice versa

10. taxation and government spending

10.1. can increase or decrease taxes

10.2. increase or decrease spending on roads, education, energy, military, etc.

11. people

11.1. Herbert Hoover

11.2. Franklin D. Roosevelt

11.3. John Maynard Keynes

11.4. F.A. Hayek

12. economic vocabulary

12.1. recession

12.2. expansion

13. Smoot-Hawley Act

13.1. implementing protectionist trade policies

14. types of economics

14.1. Interventionist

14.2. Laissez Faire

15. policies

15.1. monetary

15.2. fiscal

16. inflation

16.1. overall increase in prices/ devaluation of money

17. unemployment

17.1. people looking for jobs, unable to find them

18. GDP

18.1. gross domestic product

19. interventionist economics

19.1. fiscal policy

19.1.1. president of us and legislature

19.1.2. taxation and government spending

19.2. monetary policy

19.2.1. mostly legislatures but a president can veto

20. interest rates

20.1. discount rate: interest rate charged by the federal reserve to banks