AP US History AMSCO Guided Notes

9.4: A Changing Economy

AP US History
AMSCO Guided Notes

AP US History Guided Notes

AMSCO 9.4 - A Changing Economy

Learning Objectives

  1. Explain the causes and effects of economic and technological change over time.
A. Election of 1992

1. Who were the main candidates in the 1992 presidential election and what were their key characteristics?

2. What issues did Bill Clinton emphasize in his campaign and why were they effective?

3. What was the outcome of the 1992 election and what groups did Clinton win over from the Republicans?

B. Clinton's Focus on the Economy

1. Early Accomplishments

1. What major legislation did Clinton's Democratic Congress pass during his first two years in office?

2. How did the deficit-reduction budget of Clinton's first term address both spending and revenue?

2. Defeat and Adjustments

1. What happened in the 1994 midterm elections and what was the 'Contract with America'?

2. How did President Clinton respond to the Republican victory in 1994?

3. Balanced Budget

1. What were the key provisions of the 1996 budget compromise between Clinton and Congress?

2. How did the federal government achieve a budget surplus by 1998 and what was significant about this?

4. Clinton Reelected

1. What strategy did Clinton use to position himself in his battle with the Republican Congress?

2. What factors contributed to Clinton's victory in the 1996 election?

5. Tax Cuts Versus Social Security

1. What was the main debate in Washington regarding the federal surplus in the late 1990s?

2. How did Clinton and the Republicans differ on how to use the projected surplus revenues?

C. Technology and a Changing Economy

1. Technological Innovations

1. What technological innovations drove increased productivity during the 1990s economic boom?

2. How did innovations in medical technology change healthcare during this period?

2. Flattening of the Earth

1. What did Thomas Friedman mean by 'the world is flat' and how did technology contribute to this phenomenon?

3. The Boom of the 1990s

1. What economic indicators showed the strength of the 1990s boom and who benefited most?

2. How did the economic boom affect different income groups and what happened by 2001?

4. Globalization

1. What was NAFTA and what were the main concerns about its passage?

2. What international economic organizations were created or expanded during the Clinton era and what were their roles?

3. How did globalization create both opportunities and tensions in the world economy?

5. Digital Security and Privacy

1. What privacy and security issues emerged from the growth of the Internet and wireless communications?

2. How did major Internet companies like Facebook and Google use personal data and what concerns did this raise?

D. Income and Wealth

1. Per capita income in constant (inflation-adjusted) dollars

1. How did per capita income change between 1970 and 2000 and how was income distributed across different groups?

2. What disparities existed in median income by race and education level in 2000?

2. Concentration of Wealth

1. How was wealth concentrated among different segments of the American population in 2007?

2. What advantages did wealthy households have compared to lower-income households in building financial security?

3. How did wealth inequality in the United States compare to other industrialized nations and what concerns did scholars raise?

Key Terms

election of 1992

Bill Clinton

Ross Perot

Brady Bill

Anti-Crime Bill

National Rifle Association (NRA)

Newt Gingrich

Republican Revolution

Revolution of '94

Contract with America

Internet

globalization

North American Free Trade Agreement (NAFTA)

World Trade Organization (WTO)

International Monetary Fund (IMF)

World Bank

Group of Eight (G8)

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