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Match each term with the correct definition/description. (8 points)

an economic policy based on the premise that if taxes are cut for the wealthy, they will be motivated to invest in businesses, factories and the stock market, which will create more jobs

a treaty that eliminated tariffs and trade restrictions among the Unites States, Canada and Mexico

a temporary economic decline in which business activity is reduced

a rise in prices that occurs when the availability of goods and services cannot keep up with an increase in the amount of money available

the process of bringing formal charges against an elected official for misconduct or crimes committed while in office

acts of terror committed by a person against his or her own country

a war waged during George H.W. Bush's presidency against Iraq

a political scandal during Ronald Reagan's second term, involving the illegal sale of arms to pay for illegal military aid to the Contras, counterrevolutionaries who wanted to overthrow the government of Nicaragua

north american free trade agreement (nafta)
reaganomics
domestic terrorism
operation desert storm
recession
iran-contra affair
impeachment
inflation

1 answer

Here are the terms matched with their correct definitions/descriptions:

  1. Reaganomics: an economic policy based on the premise that if taxes are cut for the wealthy, they will be motivated to invest in businesses, factories, and the stock market, which will create more jobs.

  2. North American Free Trade Agreement (NAFTA): a treaty that eliminated tariffs and trade restrictions among the United States, Canada, and Mexico.

  3. Recession: a temporary economic decline in which business activity is reduced.

  4. Inflation: a rise in prices that occurs when the availability of goods and services cannot keep up with an increase in the amount of money available.

  5. Impeachment: the process of bringing formal charges against an elected official for misconduct or crimes committed while in office.

  6. Domestic terrorism: acts of terror committed by a person against his or her own country.

  7. Operation Desert Storm: a war waged during George H.W. Bush's presidency against Iraq.

  8. Iran-Contra Affair: a political scandal during Ronald Reagan's second term, involving the illegal sale of arms to pay for illegal military aid to the Contras, counterrevolutionaries who wanted to overthrow the government of Nicaragua.