Supporting standards comprise 35% of the U. S. History Test

10 (F)

Supporting Standard (10)The student understands the impact of

political, economic, & social factors in the U. S. role in the world from the 1970s through

1990.The Student is expected to:

(F) Describe significant issues of this time period: inflation, stagflation, resignation, &

environmentalism

Supporting Standard (10)The student understands the impact of

political, economic, & social factors in the U. S. role in the world from the 1970s through

1990.The Student is expected to:

(F) 1 Describe significant issues of this time period: inflation

In economics, inflation is a persistent increase in the general price level of goods and services in an economy over a period of time.

When the general price level rises, each unit of currency buys fewer goods and services. Consequently, inflation reflects a reduction in

the purchasing power per unit of money – a loss of real value in the medium of exchange and unit of account within the economy. A

chief measure of price inflation is the inflation rate, the annualized percentage change in a general price index (normally the consumer

price index) over time.

Economists generally believe that high rates of inflation and hyperinflation are caused by an

excessive growth of the money supply.

In economics, inflation is a persistent increase in the general price level of goods and services in an economy over a period of time. When the general price level rises, each unit of currency buys fewer goods and services. Consequently, inflation reflects a reduction in the

purchasing power per unit of money – a loss of real value in the medium of exchange and unit of account within the economy. A chief measure of price inflation is the inflation rate, the annualized percentage change in a general price index (normally the consumer price

index) over time.

And still today, the economy presents its challenges

Inflation Rate from 1990-2013

xThe more things

change . . .

the more then remain the same.

A fundamental concept in inflation analysis is the relationship between inflation and

unemployment, called the Phillips curve. This model suggests that there is a trade-off between price stability and employment. Therefore, some level of inflation could be considered desirable

in order to minimize unemployment. The Phillips curve model described the U.S.

experience well in the 1960s but failed to describe the combination of rising inflation and economic stagnation (sometimes referred to as

stagflation) experienced in the 1970s.

The Phillips Curve

The 1970s witnessed a

“new” phenomenon:

Stagflation

Supporting Standard (10)The student understands the impact of

political, economic, & social factors in the U. S. role in the world from the 1970s through

1990.The Student is expected to:

(F) 2 Describe significant issues of this time period: stagflation

Stagflation, a portmanteau of stagnation and inflation, is a term used in economics to describe a situation where the

inflation rate is high, the economic growth rate slows down, and unemployment remains steadily high. It raises a

dilemma for economic policy since actions designed to lower inflation may exacerbate unemployment, and vice

versa.

In the version of Keynesian macroeconomic theory which was dominant between the end of World War II and the late-1970s, inflation and recession were regarded as mutually exclusive, the relationship between the two being

described by the Phillips curve. Stagflation is very costly and difficult to eradicate once it starts, in human terms as well as in budget deficits.

Stagflation, a portmanteau of stagnation and inflation, is a term used in economics to describe a situation where the inflation rate is high, the economic growth rate slows down, and unemployment remains steadily high. It raises a dilemma for economic policy since actions designed to lower inflation may exacerbate unemployment, and vice

versa.

In the version of Keynesian macroeconomic theory which was dominant between the end of World War II and the late-1970s, inflation and recession were regarded as mutually exclusive, the relationship between the two being

described by the Phillips curve. Stagflation is very costly and difficult to eradicate once it starts, in human terms as well as in budget deficits.

Following Richard Nixon’s imposition of wage and price controls on August 15, 1971, an initial wave of cost-push shocks in commodities was blamed for causing spiraling prices. Perhaps the most notorious factor cited at that time was the failure of the Peruvian anchovy fishery

in 1972, a major source of livestock feed. The second major shock was the 1973 oil crisis, when the Organization of Petroleum Exporting Countries (OPEC) constrained the worldwide supply of oil. Both events, combined with the overall energy shortage that characterized the 1970s, resulted in actual or relative scarcity of raw materials. The price controls resulted in shortages at the point of purchase, causing, for

example, queues of consumers at fuelling stations and increased production costs for industry.

In the political arena, one measure of stagflation, termed the Misery Index (derived by the simple addition of the inflation rate to the unemployment rate), was used to swing presidential elections in the United States in 1976 and 1980.

In the political arena, one measure of stagflation, termed the Misery Index (derived by the simple addition of the inflation rate to the unemployment rate), was used to swing presidential elections in the United States in 1976 and 1980.

Following Richard Nixon’s imposition of wage and price controls on August 15, 1971, an initial wave of cost-push shocks in commodities was blamed for causing spiraling prices. Perhaps the most notorious factor cited at that time was the failure of the Peruvian anchovy fishery

in 1972, a major source of livestock feed. The second major shock was the 1973 oil crisis, when the Organization of Petroleum Exporting Countries (OPEC) constrained the worldwide supply of oil. Both events, combined with the overall energy shortage that characterized the 1970s, resulted in actual or relative scarcity of raw materials. The price controls resulted in shortages at the point of purchase, causing, for

example, queues of consumers at fuelling stations and increased production costs for industry.

Under this set of theories, the solution to stagflation is to restore the supply of materials. In the case of a physical scarcity, stagflation is mitigated either by finding a replacement for the missing resources or by developing ways to

increase economic productivity and energy efficiency so that more output is produced with less input. For example, in the late 1970s and early 1980s, the scarcity of oil was relieved by increases in both energy efficiency and global oil

production. This factor, along with adjustments in monetary policies, helped end stagflation.

Under this set of theories, the solution to stagflation is to restore the supply of materials. In the case of a physical scarcity, stagflation is mitigated either by finding a replacement for the missing resources or by developing ways to

increase economic productivity and energy efficiency so that more output is produced with less input. For example, in the late 1970s and early 1980s, the scarcity of oil was relieved by increases in both energy efficiency and global oil

production. This factor, along with adjustments in monetary policies, helped end stagflation.

Supporting Standard (10)The student understands the impact of

political, economic, & social factors in the U. S. role in the world from the 1970s through

1990.

The Student is expected to:(F) 3 Describe significant issues of this time

period: resignationDouble entendre?

while the general public gives up in the face of overwhelming

economic distress

An epoch during which the president resigns in relative disgrace before

being impeached . . .

A resignation is the formal act of giving up or quitting one’s office or position. A

resignation can occur when a person holding a position gained by election or appointment steps down, but leaving a position upon the

expiration of a term is not considered resignation. When an employee chooses to

leave a position it is considered a resignation, as opposed to termination, which occurs

when the employee involuntarily loses a job.

A resignation is the formal act of giving up or quitting one’s office or position. A resignation can occur when a person holding a position gained by election or appointment steps down, but leaving a

position upon the expiration of a term is not considered resignation. When an employee chooses to

leave a position it is considered a resignation, as opposed to termination, which occurs when the

employee involuntarily loses a job.

A resignation is a personal decision to exit a position, though outside pressure exists in many

cases. For example, Richard Nixon resigned from the office of President of the United States in

August 1974 following the Watergate scandal, when he was almost certain to have been

impeached by the United States Congress.

At a more personal or individual level, resignation is an accepting, unresisting attitude, a state of submission or acquiescence.

At a more personal or individual level, resignation is an accepting, unresisting attitude, a state of submission or acquiescence.

Supporting Standard (10)The student understands the impact of

political, economic, & social factors in the U. S. role in the world from the 1970s through

1990.The Student is expected to:

(F) 4 Describe significant issues of this time period: environmentalism

Environmentalism is a broad philosophy, ideology and social movement regarding

concerns for environmental conservation and improvement of the health of the environment,

particularly as the measure for this health seeks to incorporate the concerns of non-human elements. Environmentalism advocates the

preservation, restoration and/or improvement of—stewardship—of the natural environment,

and may be referred to as a movement to control pollution or protect plant and animal

diversity.

Environmentalism is a broad philosophy, ideology and social movement regarding concerns for environmental conservation and improvement of the health of the environment, particularly as the measure for this health seeks to incorporate the concerns of non-human elements. Environmentalism advocates the preservation, restoration and/or improvement of—stewardship—of the natural

environment, and may be referred to as a movement to control pollution or protect plant and animal diversity.

At its crux, environmentalism is an attempt to balance relations between humans and the

various natural systems on which they depend in such a way that all the components

are accorded a proper degree of sustainability. The exact measures and

outcomes of this balance is controversial and there are many different ways for

environmental concerns to be expressed in practice. Environmentalism and

environmental concerns are often represented by the color green.

At its crux, environmentalism is an attempt to balance relations between humans and the

various natural systems on which they depend in such a way that all the components are

accorded a proper degree of sustainability. The exact measures and outcomes of this balance is

controversial and there are many different ways for environmental concerns to be

expressed in practice. Environmentalism and environmental concerns are often represented

by the color green.

Due to its large membership, varying and strong beliefs, and occasionally speculative nature, the environmental movement is not

always united in its goals. At its broadest, the movement includes private citizens, professionals, religious devotees, politicians, scientists, nonprofit organizations and individual advocates.

Noteworthy Environmental Landmarks

1969- National Environmental Policy Act1970- First Earth Day- April 22

1970- Clean Air Act1970- Environmental Protection Agency

1971- Greenpeace1972- Clean Water Act

1973- Endangered Species Act1980- Earth First!

1992- UN Earth Summit in Rio de Janeiro

Since the 1970s, public awareness, environmental sciences, sciences,

ecology, and technology have advanced to include modern focus points like ozone

depletion, global climate change, acid rain, and the potentially harmful

genetically modified organisms (GMOs). In the 1970s, the environmental

movement gained rapid speed around the world as a productive outgrowth of

the counterculture movement.

Since the 1970s, public awareness, environmental sciences, sciences, ecology, and technology have advanced to include modern focus points like ozone depletion, global climate change, acid rain, and the potentially harmful genetically modified organisms (GMOs). In the 1970s, the environmental movement gained rapid speed around the world as a productive outgrowth of the counterculture movement.

By the mid-1970s, many felt that people were on the edge of environmental catastrophe. The Back-to-the-

land movement started to form and ideas of environmental ethics joined with anti-Vietnam War

sentiments and other political issues. These individuals lived outside normal society and started to take on some of the more radical environmental

theories such as deep ecology. Around this time more mainstream environmentalism was starting to show force with the signing of the Endangered Species Act

in 1973 and the formation of CITES in 1975. Significant amendments were also enacted to the

United States Clean Air Act and Clean Water Act.

By the mid-1970s, many felt that people were on the edge of environmental catastrophe. The Back-to-the-

land movement started to form and ideas of environmental ethics joined with anti-Vietnam War

sentiments and other political issues. These individuals lived outside normal society and started to take on some of the more radical environmental

theories such as deep ecology. Around this time more mainstream environmentalism was starting to show force with the signing of the Endangered Species Act

in 1973 and the formation of CITES in 1975. Significant amendments were also enacted to the

United States Clean Air Act and Clean Water Act.

During the 1980s the growing awareness of global warming and other climate change issues brought environmentalism into

greater public debate. In 1986 the international conservation organization the World Wildlife Fund renamed itself the

Worldwide Fund for Nature to reflect a shift to a more strategic approach. Still known as WWF, however, the organization brought together religious authorities representing the five major world religions (Buddhism, Christianity, Hinduism,

Islam, and Judaism) to prepare the 1986 Assisi Declarations. These theological statements, published by the WWF and

UNEP, identified the responsibilities towards the care of nature expected of followers of each religion thus providing spiritual

motivation for environmental action. The full texts, with additional similar declarations from Bahá’ísm, Jainism,

Shintoism, Sikhism and Zoroastrianism were later included in the 2003 World Bank publication “Faith In Conservation.”

During the 1980s the growing awareness of global warming and other climate change issues brought environmentalism into

greater public debate. In 1986 the international conservation organization the World Wildlife Fund renamed itself the

Worldwide Fund for Nature to reflect a shift to a more strategic approach. Still known as WWF, however, the organization brought together religious authorities representing the five major world religions (Buddhism, Christianity, Hinduism,

Islam, and Judaism) to prepare the 1986 Assisi Declarations. These theological statements, published by the WWF and

UNEP, identified the responsibilities towards the care of nature expected of followers of each religion thus providing spiritual

motivation for environmental action. The full texts, with additional similar declarations from Bahá’ísm, Jainism,

Shintoism, Sikhism and Zoroastrianism were later included in the 2003 World Bank publication “Faith In Conservation.”

Fini