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World War I
World War I effected the United States economy in a good way. The "Roaring 20's" was attributed to the production of war materials and the increased job growth. The war impacted the economy by stimulating job growth because of an increased demand for war materials. The business cycle was in the expansion during the war and after the war the U.S was in its peak. -
The Great Depression
The economy was in a depression, some indicators were that the unemployment rate was extremely high around 25% and the GDP fell to record lows. The main event that happened was that the stock market crashed. This impacted the economy because tons and tons of people lost there life savings and no one could afford to buy anything. The great depression lasted from 1929-1939. -
World War II
The U.S economy had just recovered from The Great Depression when World War II happened. World War II caused an extremely under prepared military require many weapons and materials. Manufacturing in the United States then sky rocketed bringing us back into the peak range of the business cycle. -
The Korean War
The economy was expanding and recovering thanks to the boost from increased production. Some economic indicators were the GDP was up and the unemployment rate was down. The Korean war affected the economy by increasing manufacturing which increased jobs. Which stimulated a chain reaction of more money circulating. -
Opec Oil Embargo
The Oil Embargo of 1973 put the United States in recession from 1973-1975. The major indicator was the high unemployment rate. The Oil Embargo effected the economy greatly because there was such as a shortage of gasoline people could drive places. People then lost there jobs and america went down a very bad path. The effects lasted longingly as the economy didn't recover for a long time. -
9/11
The September 11 attacks of 2001 affected the economy immediately by the stock market dropping nearly 600 points. The then went into a recession. Some indicators were the Stock Market crashing and the GDP decreasing a ton. The event impacted the economy because it was such a huge blow and at the same time business's were fearing/preparing for war. -
Afghanistan War
The Afghanistan War had a lot of the same affects on the economy as the Iraq war. The war at first impacted the U.S economy in positive ways with increased war material production which stimulated job growth. In the early stages of the war the U.S economy was in expansion. Later in the war we went into a recession and unemployment rates rose considerably. -
The Iraq War
The Iraq war effected the economy by stimulating it at first but as the war dragged on the GDP drastically spiraled downwards and the unemployment rate skyrocketed. The Iraq war had several effects on the economy at first the economic indicators showed increased GDP and lowered Unemployment rates causing expansion, but later in the war it caused a recession along with the housing market collapse.
