Pack 4 - financial crisis and great depression stats Flashcards

1
Q

What policies were used in the US in the Great Depression?

A
  • contractionary monetary policy used in first few years
  • expansionary fiscal policy (due to WWII) - e,g Roosevelt’s New Deal
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2
Q

What policies were used in the UK in the Great Depression?

A
  • contractionary fiscal policy (made situation worse)
  • expansionary monetary policy (leaving gold standard)
  • protectionist measures
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3
Q

US responses to financial crisis

A
  • expansionary fiscal policy - Economic stimulus Act
  • expansionary monetary policy interest rates cut to 0-0.25% in 2008
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4
Q

UK responses to financial crisis

A
  • expansionary fiscal policy but shifted to reducing budget deficit in 2010
  • expansionary monetary policy
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