What do you know about Economic Declines?

Answer these questions below with the proper economic declines. You my use more than one answer for each.

a) The Great Depression of the Early 21st Century
b) The Great Depression of the 20th Century
c) The Recession of the 1970s
d) The Recession of 1949

1. This decline started with a Real Estate bust and bank failures.
2. This decline seen the largest stock market decline in percentage among the four mentioned here.
3. After World War II the economy had to change from a war time economy to a peace time economy.
4. Germany was the first to come out of this economic decline.
5. Before this decline in economic activity, the US landed on the moon and had its greatest number of employed. The public believed that the US would never have another decline in economic activity.
6. In this decline the Korean War got underway. Many thought that it would bring back prosperity.
7. In this decline, the symbol of the start was the stock market crash.
8. In this decline, the stock market went from 14 thousands to 8 thousand points. Many people lost their retirement savings.
9. In this decline, many people lost their bank savings accounts.
10. In this decline, many people’s life insurance policies did not pay upon death.
11. Many people became homeless and lived in the street.
12. Long lines at the gas station caused a down turn in economic activity.
13. We saw unemployment rates go from around 4% to about 8% in this down turn.
14. The average annual unemployment rate was 5.4 percent, while the average annual change in the Consumer Price Index (CPI) was 6.6 percent.
15. Four Years after the war, this economic downturn in the United States lasting for 11 months.

There have been as many as 47 recessions in the United States since 1790. This link looks at these downturns.

http://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States

No matter what you scored on this one, I bet that you learned that economic declines take away your money, no matter who you are.

Answers:

1- a, b
2- b
3- d
4- b
5- c
6- d
7- b
8- a
9- b
10- b
11- a, b
12- c
13- d
14- c
15- d