Read about the space race. then write a full-page essay about this historical event. make sure to describe its purpose, its financial cost, its risks, and its benefits. why did the united states and soviet union engage in the space race? in your view, were the benefits of the space race worth the risks and costs?

The Space Race was a period when the United States and Soviet Union competed for technological advancements and scientific accomplishments. This competition was a result of the Cold War that started after World War II.

Exploring space during this era (late 1950's through the beginning of the 1970's) was an unprecedented adventure for its time. The world was shocked when the Soviet Union were able to launch Sputnik ( a satellite) into space. After this momentous accomplishment, the US followed sending their own satellite into space several months later.

Both of these countries took a significant risk, as their satellites, spaceships, and other equipment could completely blow up. This would result in the deaths of citizens. Along with this, they had to risk the financial risk that this race caused. Each country poured in hundreds of millions of dollars into their space programs over the course of 2 decades. If countries failed to achieve any breakthroughs, then this money would have been wasted.

Despite the risks, this space race had several positive effects on the world. This includes the implementation of satellites that allow us to use GPS, the invention of memory foam mattresses, and increased funding for public education.

Fiscal policy because it refers to the use of government spending and tax policies to influence macroeconomic conditions, including aggregate demand, employment, inflation, and economic growth.