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1910 In response to taxpayer complaints, the Appropriations Act of 1910 tightened disclosure regulations for Taft's corporation excise tax. Henceforth, tax returns would be open to inspection "only upon the order of the President." It was a blow to progressives in both parties, who had hoped the tax would serve as a means to regulate private corporations by fostering the availability of accurate financial information.
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$1 in the year 1910 is equivalent in purchasing power to $25.35 in 2018, a difference of $24.35 over 108 years.
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33.4
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Impact of government spending on the economy. There is a high possibility that the rise in taxes will negate the impact of rising government spending which would leave Aggregate Demand unchanged.
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Interest is simply the cost of borrowing money. As with any good or service in a free market economy, price ultimately boils down to supply and demand.
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4,694
-
Number of unemployed: 2,150 (2,150,000)
Change from previous year: 280 (1,870)
Percent of Civilian Labor Force: 5.9%
Percent of Nonfarm employees: 9.1%
(number in thousands of persons 14 years old and over) -
GDP: 4964
Growth Rate: -1.05% -
Fiscal policy is the means by which a government adjusts its spending levels and tax rates to monitor and influence a nation's economy. It is the sister strategy to monetary policy through which a central bank influences a nation's money supply.
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A business cycle is the rise and fall of business activities within an industry that include periods of profitability and periods of loss. Business cycles do not occur at regular intervals. These cycles occur irregularly but repetitively. Typical business cycles include expansion, a peak, contraction and recovery. When dramatic business cycles occur in different industries, it often affects the national economy as a whole and not just the industry experiencing the fluctuation.
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$1 in the year 1911 is equivalent in purchasing power to $25.35 in 2018, a difference of $24.35 over 107 years.
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34.3
-
GDP: 5046
Growth rate: 1.65% -
The number of unemployed: 2,290
Change from previous year: 140
Percent of Civilian Labor Force: 4.8%
Percent of Nonfarm employees: 7.1% -
The Panic of 1910–1911 was a slight economic depression that followed the enforcement of the Sherman Anti-Trust Act. It mostly affected the stock market and business traders who were smarting from the activities of trust busters, especially with the breakup of the Standard Oil Company.
Business Activity: -14.7%
Trade and Industrial Activity: -10.6% -
The Supreme Court found Standard Oil guilty of monopolizing the petroleum industry; subsequently dividing Standard Oil into several geographically separate firms.
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$1 in the year 1912 is equivalent in purchasing power to $24.87 in 2018, a difference of $23.87 over 106 years.
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37.4
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GDP: 5201
Growth rate: 3.07% -
Number of unemployed: 1,960
Change from previous year: -330
Percent of Civilian Labor Force: 5.2
Percent of Nonfarm employees: 7.9 -
$1 in the year 1913 is equivalent in purchasing power to $25.15 in 2018, a difference of $24.15 over 105 years.
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The annual average was 9.9 while there was no rate of change because this is the first year that CPI was recorded.
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39.1
-
Number of unemployed: 1,680
Change from previous year: -280
Percent of Civilian Labor Force: 4.4%
Percent of Nonfarm employees: 6.6% -
GDP: 5301
Growth Rate: 1.92% -
On this day in 1913, Henry Ford installs the first moving assembly line for the mass production of an entire automobile. His innovation reduced the time it took to build a car from more than 12 hours to two hours and 30 minutes.
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The Federal Reserve System, often referred to as the Federal Reserve or simply "the Fed," is the central bank of the United States. The responsibilities of the Federal Reserve include influencing the supply of money and credit; regulating and supervising financial institutions; serving as a banking and fiscal agent for the United States government; and supplying payments services to the public through depository institutions like banks.
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The annual average was 10.0 while the annual percent change (rate of inflation) was 1.3%
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36.5
-
Number of unemployed: 3,110
Change from previous year: 1,430
Percent of Civilian Labor Force: 8.0
Percent of Nonfarm employees: 11.9 -
Monetary policy is the process by which the monetary authority of a country, typically the central bank or currency board, controls either the cost of very short-term borrowing or the monetary base, often targeting an inflation rate or interest rate to ensure price stability and general trust in the currency.
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GDP: 4799
Growth Rate: -9.46% -
Short-term impact: Economic growth
Long-term impact: Great Depression -
In 1904, the United States bought the Canal Zone. It wanted to expand its shipping and naval power between the Atlantic and Pacific Oceans. It paid $10 million to Panama and $40 million to the French. U.S. engineers decided a canal lock would protect ships from landslides in the Andes Mountains.
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The annual average was 10.1 while the annual percent change (rate of inflation) was 0.9%
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The annual average was 10.9 while the annual percent change (rate of inflation) was 7.7%
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38.7
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Number of unemployed: 3,840
Change from previous year: 730
Percent of Civilian Labor Force: 9.7%
Percent of Nonfarm employees: 14.3% -
GDP: 4864
Growth Rate: 1.35% -
$1 in the year 1916 is equivalent in purchasing power to $22.84 in 2018, a difference of $21.84 over 102 years.
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The annual average was 10.9 while the annual percent change (rate of inflation) was 7.7%
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49.6
-
GDP: 5459
Growth Rate: 12.2% -
Number of unemployed: 1,920
Change from previous year: -1,920
Percent of Civilian Labor Force: 4.8%
Percent of Nonfarm employees: 7.0%
