The Roosevelt Recession of 1937-38 was a significant economic downturn during the recovery from the Great Depression, caused by monetary and fiscal policies. Key factors included the Federal Reserve's increased reserve requirements, the Treasury's gold sterilization policy, and a shift towards fiscal austerity with the introduction of the Social Security tax. These policies, along with external pressures, led to a sharp decline in GDP and a rise in unemployment, teaching valuable lessons for economic policy.
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1
The economic downturn from 1937 to 1938, known as the ______ Recession, disrupted the United States' rebound from the Great Depression.
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2
Key policies of the New Deal
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3
Roosevelt's economic projections in early 1937
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4
Economic indicators before the Roosevelt Recession
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5
To counter potential inflation, the policy caused banks to hoard excess reserves and cut back on ______, which echoed the monetary issues of the ______ Depression.
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6
Gold sterilization impact on money supply
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7
Coordination between Federal Reserve and Treasury Department
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8
In 1937, the implementation of the ______ tax led to a decrease in consumer spending power, aggravating the economic downturn.
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9
Impact of Spanish Civil War on U.S. business costs
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10
Effects of stronger labor movements on U.S. wages
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11
The ______ Recession led to a significant setback in the U.S. economy with a 10% drop in real GDP, nearly 20% unemployment, and a steep decline in industrial output.
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12
Roosevelt Recession recovery measures
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13
Impact of expansionary policies pre-WWII
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14
Modern economic policy debates are influenced by the lessons learned from the ______ ______, highlighting the importance of vigilance and adaptability.
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