Data

Copy and paste the text below. It is read-only. Select All

Detente French word meaning an easing of tensions between the world's superpowers during the Cold War Henry Kissinger United States diplomat who served under President Nixon and President Ford (born in 1923) Supply side economics the economic theory that tax cuts and business incentives will increase the supply of labor and goods and stimulate the economy New Federalism system in which the national government restores greater authority back to the states. OPEC an organization of countries formed in 1961 to agree on a common policy for the production and sale of petroleum Stagflation a period of slow economic growth and high unemployment (stagnation) while prices rise (inflation) Gorbachev last head of USSR, made many reforms that gave people more freedom Iran Contra Iran terrorist groups took Americans hostage, President Reagan told U.S. not to sell arms to Iran, but did in exchange for hostages. Watergate a scandal of the break-in at the Democratic National Committee of 1972, this led to Nixon's resignation Revenue Sharing distribution of part of the federal tax income to states and municipalities Oil embargo economic crisis of 1973 that occurred when OPEC nations refused to export oil to Western nations Realpolitik politics based on practical rather than moral or ideological considerations SALT I Negotiation between Nixon and Brezhnev to slow down building weapons. Executive Privilege The right of the president to withhold info from Congress/ refuse to testify; limited by U.S. v. Nixon Impeachment charges against a president approved by a majority of the house of representatives Gerald Ford 1974-1977, Republican, first non elected president and VP, he pardoned Nixon Camp David Accords Peace talks between Egypt and Israel mediated by President Carter. Iran Hostage Crisis a group of Iranians overran the American embassy in Iran's capital of Tehran and took 52 hostages Inflation a general and progressive increase in prices Pardon a declaration of forgiveness and freedom from punishment Recession a period of reduced economic activity Reaganomics Based on an economic theory, known as supply-side economics, where tax cuts and business incentives will stimulate the economy