Practice question · Match the pairs
Match each Golden Age concept to its meaning.
- Catch-up growth
- Mixed economy
- Bretton Woods
- Nixon shock
- Government demand management plus welfare state
- Adopting proven technologies from the frontier
- Dollar-gold peg with adjustable exchange rates
- Suspending dollar-gold convertibility in 1971
Hints
- Separate the catching-up process from the monetary architecture.
- One term names the bargain between labour and capital.
Show the answer
- Catch-up growth → Adopting proven technologies from the frontier
- Mixed economy → Government demand management plus welfare state
- Bretton Woods → Dollar-gold peg with adjustable exchange rates
- Nixon shock → Suspending dollar-gold convertibility in 1971
Why
Convergence, the social contract, the monetary architecture, and its collapse, the Golden Age's four pillars.
Practise The Golden Age of Capitalism
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