15 terms

Vocabulary #29

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Supply Side Economics/Reaganomics/Trickledown
Economic theory that lower taxes will boost the economy as businesses and individuals invest their money, thereby creating higher tax revenue
Multinational Corporations
A large business that operates in many countries (ex. Walmart)
Ronald Reagan
Economically and socially conservative leader who based his supply-side economic policy on the belief in smaller government
Deregulation
The lifting of government restrictions on business, industry, and professional activities.
Iran-Contra Affair
1986 scandal in which the US sold weapons to Iran and gave money to the Contra rebels in Nicaragua
Strategic Defense Initiative (aka Star Wars)
A high-technology missile-defense system. It called for orbiting battle satellites in space that could fire laser beams to vaporize intercontinental missile on liftoff
New Jersey v. TLO
Supreme Court case in which it was decided that a student may be searched if there is "reasonable ground" for doing so.
George H.W. Bush
• In office when Cold War ended, and communist governments in Eastern Europe and Soviet Union fell
• Led the United States in the Persian Gulf War against Iraq
Saddam Hussein
Long-time Iraqi dictator who invaded Kuwait causing Persian Gulf war, removed from power in 2003 during Iraq War and was executed in 2006
Persian Gulf War
A war fought between a coalition (United Nations) led by the United States and Iraq to free Kuwait from Iraqi invaders
Demographics
Characteristics such as age, sex, income, location, education, and religion
Subsidies
A form of financial aid or support extended to an economic sector generally with the aim of promoting economic and social policy.
Coalition
A combination, union, or merger for some specific purpose, for example, to fight a war or to get a bill passed
Reunification
Bring together two parts of a country under one government (ex: Germany)
Sun Belt
Southern and western states that offered a warm climate year-round and low tax rates
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