Nixon And Economics

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Nixon And Economics

  1. 1. The End of the Cold War Political and Economic Effects 10-1 Social Studies
  2. 2. Learning Targets <ul><li>I can compare Nixons foreign policy decisions with other administrations. </li></ul><ul><li>I can understand and analyze the impact war has on the U.S. Economy. </li></ul><ul><li>I can demonstrate the effects of inflation. </li></ul><ul><li>I understand the significance of trade organizations. </li></ul><ul><li>I can evaluate the effects of taxation on spending.. </li></ul>
  3. 3. Nixon and the Cold War <ul><li>Realpolitik </li></ul><ul><ul><li>Embrace S.U. And China </li></ul></ul><ul><ul><li>See as trade partners </li></ul></ul><ul><li>Recognizes China </li></ul><ul><ul><li>Economic partner </li></ul></ul><ul><ul><li>First to visit </li></ul></ul><ul><li>Detente with Soviets </li></ul><ul><ul><li>SALT I </li></ul></ul><ul><ul><ul><li>Limits on missiles </li></ul></ul></ul><ul><ul><ul><li>Limits on testing </li></ul></ul></ul><ul><ul><li>Easing of Cold War tensions </li></ul></ul><ul><li>Officially pulls America out of Vietnam </li></ul>
  4. 4. A Weakened Economy <ul><li>Economy strained under Johnson </li></ul><ul><ul><li>Rising prices </li></ul></ul><ul><ul><li>Inflation </li></ul></ul><ul><ul><ul><li>Decreasing value of dollar and high prices </li></ul></ul></ul><ul><ul><ul><li>Too much money circulating </li></ul></ul></ul><ul><li>Stagflation? </li></ul><ul><ul><li>A combination of recession and inflation! </li></ul></ul><ul><ul><ul><li>Increased budget deficit </li></ul></ul></ul><ul><ul><ul><li>Rising foreign competition </li></ul></ul></ul><ul><ul><ul><ul><li>Americans losing industry jobs </li></ul></ul></ul></ul>
  5. 5. Oil problems? <ul><li>OPEC </li></ul><ul><ul><li>Organization of Petroleum Exporting Countries </li></ul></ul><ul><ul><li>Trading Bloc </li></ul></ul><ul><ul><ul><li>Organization of Countries </li></ul></ul></ul><ul><ul><ul><li>Based on regions </li></ul></ul></ul><ul><ul><li>Placed an oil embargo on allies of Israel (9 th grade conflicts?!) </li></ul></ul><ul><ul><li>Oil prices increased 400% </li></ul></ul><ul><ul><li>Gas lines and shortages </li></ul></ul>
  6. 6. Trading Blocs <ul><li>Foreign trade had a large impact on U.S. Economy </li></ul><ul><ul><li>Effects today? </li></ul></ul><ul><ul><ul><li>Outsourcing? </li></ul></ul></ul><ul><li>Trade based on regions, not individual countries </li></ul><ul><li>North American Free Trade Agreement (NAFTA) </li></ul><ul><ul><li>U.S., Canada and Mexico </li></ul></ul><ul><li>European Union </li></ul><ul><ul><li>Euro </li></ul></ul>
  7. 7. Results of Foreign Trade <ul><li>Tariffs </li></ul><ul><ul><li>Taxes on imported goods </li></ul></ul><ul><ul><li>Protect domestic companies and jobs </li></ul></ul><ul><ul><ul><li>American car industry </li></ul></ul></ul><ul><li>World Trade Organization </li></ul><ul><ul><li>Tries to promote free trade among nations </li></ul></ul><ul><li>Do we place tariffs on ALL foreign goods?! </li></ul>
  8. 8. Effects of Taxation? <ul><li>Taxes were raised during Vietnam to pay for the war and domestic programs </li></ul><ul><ul><li>Johnson's Great Society </li></ul></ul><ul><ul><ul><li>Eliminate poverty </li></ul></ul></ul><ul><ul><ul><li>Increase federal funding and education </li></ul></ul></ul><ul><li>Increase in income tax or taxes in general=less spending by consumers </li></ul><ul><ul><li>Hurts business and jobs </li></ul></ul>
  9. 9. Assessment <ul><li>OPEC is a trade organization based on </li></ul><ul><ul><li>A. regions </li></ul></ul><ul><ul><li>B. countries </li></ul></ul><ul><li>If the government lowers income taxes, consumer spending will </li></ul><ul><ul><li>A. increase </li></ul></ul><ul><ul><li>B. decrease </li></ul></ul><ul><li>The U.S. could increase consumer consumption of bananas by... </li></ul><ul><ul><li>A. eliminating tariffs on bananas </li></ul></ul><ul><ul><li>B. placing tariffs on bananas </li></ul></ul>

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