Foreign Policy, Trade, and U.S. Military History: Key Concepts and Major Wars

What is the primary difference between protectionism and free trade?

Free trade encourages unrestricted flow of goods and services between nations, while protectionism involves tariffs and policies to protect domestic industries.

Who developed the theory of comparative advantage?

David Ricardo, a 19th-century English economist.

What was the purpose of the Smoot-Hawley Tariffs?

To impose tariffs on imports in hopes of improving employment in the U.S., but it is believed to have worsened the Great Depression.

What major trade agreement was replaced by the USMCA?

The North American Free Trade Agreement (NAFTA).

What does a weak U.S. dollar do for exports?

It helps exports by reducing currency exchange costs for foreign buyers.

What is the equilibrium price in a market?

The price where the quantity demanded equals the quantity supplied.

What key event on September 11, 2001, led to U.S. military actions?

Terrorist attacks by Al Qaeda.

What was the outcome of the Korean War?

The U.S. intervened to contain communism after North Korea invaded South Korea.

What was the Gulf of Tonkin Resolution?

A resolution that authorized the president to use military force in Vietnam after a reported attack on a U.S. ship.

What was the main cause of World War I?

Alliances and the assassination of Serbian Archduke Franz Ferdinand.

What was the Cold War?

A period of political tension between the U.S. and the USSR characterized by proxy wars and a nuclear arms race.

What does the term 'domino effect' refer to in the context of communism?

The fear that if one country fell to communism, neighboring countries would follow.

What was the significance of the Trans-Pacific Partnership (TPP)?

It was a trade deal aimed at countering China's influence in the Pacific Rim.

What was the U.S. response to the invasion of Ukraine by Russia in 2014?

The U.S. provided arms and support to help Ukraine create a stalemate.

What was the primary goal of President Trump's trade policies?

To protect American workers and industries through tariffs and immigration enforcement.

What was the outcome of the Vietnam War?

The U.S. abandoned its southern allies in 1973, leading to communist control of Vietnam in 1975.

What does the two presidencies thesis suggest about U.S. presidents?

It suggests they have more influence in foreign policy than in domestic policy.

What were the main countries involved in World War II?

Axis powers: Germany, Italy, Japan; Allies: USA, UK, USSR.

What is the significance of the phrase 'Work Makes Free' in the context of the Holocaust?

It was an ironic sign over the Auschwitz concentration camp.

What are some factors that contribute to why some countries are rich while others are poor?

Better technology/education, natural resources, and regulatory environments.

What was the main trigger for the Spanish-American War?

The sinking of the USS Maine.

What event marked the start of World War II?

The invasion of Poland by Germany and the USSR.

What role did President Lyndon B. Johnson play in the Vietnam War?

He escalated U.S. involvement significantly during his presidency.

What is mutually assured destruction (MAD)?

A doctrine that deters nuclear war by ensuring that both sides would face annihilation.

What are three contemporary potential hotspots in 2025?

Taiwan, Ukraine, and Israel's conflict with Hamas.