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Which diamond company popularized the slogan “A Diamond Is Forever”?
Answer
De Beers
During the 1971 Nixon shock, which U.S. president ordered a 90-day freeze on wages and prices?
Answer
Richard Nixon
Which country’s 1982 debt default helped trigger the Latin American debt crisis?
Answer
Mexico
Which U.S. president signed the 1935 Social Security Act during the Great Depression?
Answer
Franklin D. Roosevelt
Which 1979 revolution caused a major oil supply shock and contributed to high inflation worldwide?
Answer
Iranian Revolution
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Which U.S. president signed the 1935 Social Security Act during the Great Depression?
Answer
Franklin D. Roosevelt
Which 1979 revolution caused a major oil supply shock and contributed to high inflation worldwide?
Answer
Iranian Revolution
What was the name of the 1930s U.S. program that paid farmers to reduce crop production?
Answer
Agricultural Adjustment Act
Which international institution publishes the World Economic Outlook, including forecasts for growth and inflation?
Answer
International Monetary Fund
What is the economic term for inflation caused by excessive demand exceeding an economy’s productive capacity?
Answer
Demand-pull inflation
What 1997 currency crisis began when Thailand abandoned its fixed exchange rate for the baht?
Answer
Asian financial crisis
Which 1930 U.S. law sharply raised tariffs on many imported goods during the Great Depression?
Answer
Smoot–Hawley Tariff Act
In popular economic usage, how many consecutive quarters of falling real GDP define a recession?
Answer
Two consecutive quarters