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
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
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
4
Q
UK responses to financial crisis
A
- expansionary fiscal policy but shifted to reducing budget deficit in 2010
- expansionary monetary policy