Dear Parent/Guardian
I look forward to working with your child to ensure a very successful and
productive school year. However, in order to accomplish this, there are
some
responsibilities and expectations that must be exemplified by your child.
I expect all students to be present each day with proper working materials.
This course will require that homework and reading assignments be completed
daily before class time. You may assist by encouraging additional reading
sources such as the daily newspaper, news magazines, journals and other
materials which are academically beneficial.
February 2, 2009
School island Assignments have been added today to assist students in
preparation for the EOC's. Students can access this website from
home. "schoolisland.com" this is another tool that students can make use
of.
Concepts/Terms Suggested to assist in Preparing Students for Assessment.
Building a comprehensive school-based Social Studies program:
Civics and Economics
EVENTS
exploration/colonization
American Revolution
Constitutional Convention
Federal expansion
Civil War
Progressivism
Great Depression/New Deal
Civil Rights Movement
Age of Terrorism
GOALS
Goal 1-
colonies
mercantilism
Triangular Trade Route
self-government: Mayflower Compact/House of Burgesses
taxation without representation
1st and 2nd Continental Congress
British Repressive Acts: Stamp Act, Quartering Act, Intolerable Acts, Tea Act
Republic/Representative Democracy
Shays’ Rebellion
Declaration of Independence
Constitutional Compromises
Articles of Confederation
first political parties
Goal 2
Legislative Branch
Executive Branch
Judicial Branch
Elastic Clause
Supremacy Clause
Federalism (expressed, concurrent, reserved)
Popular sovereignty
Limited government
Separation of powers
Checks and balances
Bill of Rights
Suffrage
Brown v. Board of Ed.
Goal 3
Charter
Types of local government
Referendum
Leandro case
State v Mann
State/local leaders
Goal 4
political party
elections
vote
propaganda
electoral college
volunteerism
apathy
resolving conflict
Goal 5
Jurisdiction (types of)
Court types
Judicial review
Committee
Public policy
Jury system
Due process
Bill Law
Veto
Initiative
Annexation
Zoning
Goal 6
civil law
criminal law
lobbying
common law
interest groups
law enforcement
sentencing
bureaucracy
media
deterrence
social contract theory
informing citizens
Goal 7
Factors of production
Wants/needs
Scarcity
Trade offs
Costs
Specialization
Decision making
Production
Resources
Economic systems
Division of labor
Goal 8
economics
market economy/capitalism
economic institutions
specialization
currency
demand
supply
price change
competitive market
fiscal policy
circular flow of economic activity
Goal 9
Global Interdependence
Business cycle
Regulation
Migration
Security
NAFTA
Free trade
Fiscal policy
Monetary policy
Goal 10
responsibilities
duties
“-isms”: racism, ageism, sexism
citizenship
public issues
political activism
Today I have given students a copy of vocabulary words, facts....(12 for this
week) that they will need to put on index cards with a metal ring. This
will count as a grade. We will continue to add to our list as we progress
into the semester. It would certainly help if you would remind them to
update their flashcards and quiz them on the answers to the words......this
is another method of building a partnership between teacher,student and
parent.
I have provided all students with the "special interest class" a set of index
cards and the ring to help get them started. I have also contacted their
teachers to ask for asst. in keeping up with the cards, adding new
words .....to the cards and quizzing them on the information.
If you have any questions regarding this on-going assinment please contact me
ext. 363.
Again, Thanks for all your help!
Projects
Constitution Project (will be announced)
(students have been given a sheet listing the basic requirements)
Main Goal Assignments
Please click on the "Announcement" link for the Main Goals assignments.
Each student(Advanced and On level Civics) Must complete at least one of the
Goal assignments for each Goal;
Students may choose the assignment they will complete for each Goal.
All Goal Assignments must be typed!
Due Dates for Assignments are as follows:
Goal 1 due
Goal 2 due
Goal 3 due
Goal 4 due
Goal 5 due
Goal 7 due
Goal 8 due
Goal 10 due
Honors ELP only
Assignments
Political Cartoon Project
Due:
1. Place in binder
2. Place each cartoon and summary on a separate sheet
a. 10 from the newspaper
b. 10 from the internet
c. 5 hand drawn
Book Report Assignment (Advanced Civics )
Book Reports Due :
Due: NON Fiction Book Report
Assignment: Must read one book each nine weeks
Students will read a nonfiction book and complete the book assignment.
Preferably students will 1. read a book that has been on the New York Times
Best Sellers List(within the last 2 years). 2. Book selected must relate to
topics such as history, government, or economics ( please see instructor if
you have questions about a particular book). Please see an example of books
students have read in the past for suggestions.
Men In Black (The Supreme Court)
The Senator and the Socialite
Culture Warrior
Freakonomics
Nickled and Dimed
Exporting Economics
Mayflower
Exporting America
110 People Who Are Screwing Up America
The O"Reilly Factor
Somebody's Got to Say It
Where Have All the Leaders Gone?
Long Way Gone
America Against the World
The Anti-Federalist Papers
Shadow War
The Bureau and the Mole
Blackwater
Economic terms that can be used to study for Civics and Economics Midterm and
Final. I am placing the following for your viewing and your child's use to
prepare for these upcoming examinations.
CIVICS AND ECONOMICS TERMS FOR THE Midterm and EOC
GOAL 1
New England - Dominated by Puritans and founded for religious reasons (God).
Massachusetts, New Hampshire, etc.
Middle Colonies- Had great religious variety: Catholics in Maryland, a mix of
Anglicans (Church of England), Quakers, Lutherans, Baptists, Presbyterians,
and Methodists. Pennsylvania and Maryland were known for their religious
toleration, unlike the New England Puritans who for the first hundred years
were known to persecute other Christian sects.
Southern Colonies- The tidewater areas were primarily dominated by the
Anglican Church; this church was the established church and the citizens were
required to pay taxes for the upkeep of this denomination. In the “Southern
Back country”, the people were primarily Presbyterians, Baptists, Methodists,
and Quakers, all of whom resented paying taxes for the Anglican Church.
Jamestown The crew members of the Virginia Company’s ship reached a small
peninsula in 1607 and the colonist claimed it as their own and named the town
Jamestown and the river James in honor of their King.
Plantation system- Southern colony system using slave labor. Large farms
based on farming cash crops, not just subsistence farming.
Mercantilism - The theory and system of political economy prevailing in
Europe after the decline of feudalism, based on national policies of
accumulating bullion, establishing colonies and a merchant marine, and
developing industry and mining to attain a favorable balance of trade.
Indentured servants - Indentured servants were imported from England; the
plantation owners would pay their passage over to America for the exchange of
their work for about 7 years.
Slavery - The state of one bound in servitude as the property of a
slaveholder or household.
Middle Passage- The voyage that brought enslaved Africans to the West Indies
and later to North America.
Triangular Trade Route- A transatlantic system of trade in which goods and
people, including slaves, were exchanged between Africa, England, Europe, the
West Indies, and the colonies in North America.
Pilgrim - Members of a group that wanted to eliminate all traces of Roman
Catholic ritual and traditions in the Church of England.
Puritan - English Separatists who founded the colony of Plymouth in New
England in 1620.
One who lives in accordance with Protestant precepts, especially one who
regards pleasure or luxury as sinful.
Quakers- A Christian sect founded by George Fox about 1660; commonly called
Quakers- Members of the Society of Friends, a religious group persecuted for
its beliefs in 17th-century England.
Catholic - Persecuted in Europe – found safe haven in Maryland.
Bacon’s Rebellion- Bacon and his army marched to Jamestown 1676 to confront
the colonial leaders about the number of grievances, including the lack of
representation in Virginia. Bacons army set fire to town making the people
leave. This rebellion succeed in drawing King Charles’s attention about how
the government was not working of fair.
Town meetings- Were significant in Plymouth. The town meetings were the time
where more average settlers who couldn’t participate in the General Court
could also get themselves involved in town policies. It really emphasized the
people’s choices and the idea of a possible democracy.
Joint-stock Company– Business organization in which money is raised by
selling shares in the company to investors.
London Company– Large joint-stock company sent to Jamestown until it was sued
by England because of financial problems in Jamestown.
Proprietary Colony– Colonies formed when rich people with connections to the
king are given a colony. Pennsylvania – William Penn, Maryland.
Royal Colony– Owned by the King. Laws approved or vetoed by the King.
Virginia.
Charter Colonies– No religious laws so tolerance for different religions.
Charters have been agreed to by the people and the King. MOST INDEPENDENCE.
Rhode Island – Roger Williams, Mass.
Salem Witch Trials – mass paranoia and persecution of women for
being ‘witches’
Magna Carta/Great Charter Parliament- Placed limits on the power of the king.
Listed the things that king could not take, gave a right to fair trial.
Common Law – legal system based on precedents and not written codes
Mayflower Compact- The Pilgrims’ pledge to abide by a government based upon
the rule of the majority.
House of Burgesses- First representative government group in the American
colonies. Famous delegates include Patrick Henry, Thomas Jefferson, and
George Washington. The House met for the first time at Jamestown. It was July
30, 1619.
Town meetings– Important in Plymouth. Average settlers could get more
involved in town policies – more democratic.
Social Contract theory- Rousseau / Hobbes / Locke- Is the view that persons'
moral and/or political obligations are dependent upon a contract or agreement
between them to form society.
Natural rights- Locke - Political theory that maintains that an individual
enters into society with certain basic rights and that no government can deny
these rights.
Common good/ Civic virtue- Is the cultivation of habits of personal living
that are claimed to be important for the success of the individual, the
family, and the community, or other groups of people. The identification of
the character traits that constitute civic virtue has been a major concern of
political philosophy.
1st Continental Congress– In response to the Intolerable Acts and pressure
from the Committees of Correspondence. 1st – 1774 – all colonies except
Georgia sent delegates to Philly. Created the Declaration of Rights and
Grievances to King George III which said that the British parliament had no
right to levy taxes or make laws for the colonies. George III. Also created
the Committees on Safety which became radical revolutionary groups.
2nd Continental Congress- 1775 – tried Olive Branch Petition as last appeal
to the King to end Intolerable Acts and taxation. War had already started in
Lexington and Concord (Shot heard around the world). Finally, Thomas
Jefferson writes the Declaration of Independence at this Congress in 1776.
Fundamental Orders of Connecticut- In 1639 Hartford became part of
Connecticut Colony, governed under the Fundamental Orders, sometimes regarded
as the first written constitution.
English Bill of Rights- When English immigrants came to the American colonies
in the 17th and 18th centuries, most assumed that they would have the same
protections against governmental abuses of power that they had in England.
The most important of these were the right to trial by jury and the right of
habeas corpus, which prevented the government from jailing people
arbitrarily. Other personal liberties brought from England to America
included the right of accused persons to have legal assistance at trials, and
a ban on excessive fines and bail. These rights came from several centuries
of English legal tradition, recorded in documents such as the Magna Carta of
1215- The Petition of Right of 1628, and the English Bill of Rights of 1689,
from which the American Bill of Rights took its name. The assumption of basic
legal rights of citizens also came out of the English common law, a body of
English court-made law that evolved from the 12th century.
Limited Government- Government where its functions and powers are prescribed,
limited, and restricted by law, usually in a written constitution
Republic- A political order whose head of state is not a monarch and in
modern times is usually a president.
Favorable Balance of Trade– Export more than you import – Mercantilism.
French and Indian War– Or the seven years’ war – British v. French. British
won, but the cost was great and led to increased pressure on the U.S.
colonies.
Writs of assistance – general arrest/search warrants
Proclamation of 1763– British Proclamation saying colonists could not settle
west of the Appalachian Mountains.
Quartering Act – required colonists to house and feed British troops
Stamp Act– Direct tax. Colonists especially angry at this – all important
documents, newspapers, etc. had to be printed on special stamped paper for
which the colonists had to pay a tax. Patrick Henry – “No taxation without
representation!”
Stamp Act Congress– Met in NY in 1765 – said colonies only had the right to
tax – sent a petition that helped repeal the Stamp Tax.
Declaratory Act– Right after the Stamp Act was repealed this was passed,
permitting Parliament to levy taxes “in all cases whatsoever.”
Albany Plan of Union– Ben Franklin led this group of delegates from 7
colonies to plan out a mutual defense against the French. Planned to form a
pact with the Iroquois Indians but it failed. It did, however, give the
colonies more autonomy to levy taxes, oversee western settlement.
Sons of Liberty – Secret patriotic society organized in the American colonies
in 1765 to oppose the Stamp Act. After the act was repealed in 1766, the
society, which consisted of numerous local chapters, formed Committees of
Correspondence to foster resistance to oppressive British economic and
political actions. The Sons of Liberty also helped enforce the policy of non-
importation, by which American merchants refused to import goods carried in
British ships, and in 1774 it took part in convoking the Continental
Congress. Its leaders included Samuel Adams and Paul Revere.
Boston Massacre- A clash between British soldiers and Boston colonists in
1770, in which five of the colonist were killed. Propaganda.
Committees of Correspondence- One of the groups set up by American colonists
to exchange information about British threats and their liberties
John Peter Zenger– 1735 – publicist accused of libel but found not guilty –
first example in U.S. of freedom of the press.
“Shot heard around the world”– 1775 – Lexington and Concord – Mass.
Boston Tea Party. - The dumping of 18,000 pounds of tea into the Boston
Harbor by colonists in 1773 to protest the Tea Act.
Intolerable Acts/ Coercive Acts- A series of laws enacted by Parliament in
1774 to punish Massachusetts colonists for the Boston Tea Party. Closed the
Boston Port, revoked Massachusetts’ independent rights and put her under more
direct control of England, and also created the new Quartering Act, forcing
people to house troops in their homes if barracks, taverns, or deserted
buildings were not available.
Declaration of Independence- The document, written by Thomas Jefferson in
1776, in which the delegates of the Continental Congress declared the
colonies’ independence from Britain.
Thomas Paine’s Common Sense- Condemning the English Crown (first direct
attack on the King, George III), and increasing popularity of Radicals with
the public at large, thus resulting their gaining more seats in Congress.
Salutary neglect- An English policy of relaxing the enforcement of
regulations in its colonies in return for the colonies’ continued economic
loyalty. Helped lead to more political, economic, and social independence.
Occurred before the French and Indian War.
Navigation Acts- A series of laws enacted by Parliament, beginning in 1651,
to tighten England’s control of trade in its American colonies.
Slave Trade- Northern abolitionists wanted the Constitution to ban the
(external) slave trade. They believed that slavery would eventually prove
unprofitable and die out. Southern Slave owners argued that slavery was vital
to the economic survival of the South. Congress was given the power to ban
the slave trade after 1808.
1st Great Awakening- Preachers traveled from village to village, stirring
people to rededicate themselves to God; a revival of religious feelings in
the American colonies during the 1730’s and 1750’s. The Great Awakening
brought many colonists, as well as Native Americans and African Americans,
into organized Christian churches. The great awakening emphasized on human
experience, emotionalism, and reason. The Great Awakening was thus a
significant intercolonial movement, which contributed to a sense of American
nationality before the American Revolution.
Suffrage- The right or privilege of voting; franchise.
Nationalism- Devotion to the interests or culture of one's nation – usually
implies superiority.
Land Ordinance, 1785- A law that established a plan for surveying and selling
the federally owned lands west of the Appalachian Mountains.
Northwest Ordinance of 1787- A law that established a procedure for the
admission of new states to the Union.
Treaty of Paris, 1783- The treaty that ended the Revolutionary War,
confirming the independence of the United States and setting the boundaries
of the new nation.
Shays Rebellion- Uprising in Massachusetts in 1786 and 1787 caused by
excessive land taxation, high legal costs, and economic depression following
the American Revolution. Shays' rebellion and the other protests forced the
leaders and politicians of the young nation to take note. The existing
Articles of Confederation, which provided for the basic laws of the nation,
were not an effective means of governing. The protests helped push the
nation's leaders closer to formulating and ratifying the Constitution of the
United States.
Bill of Rights- The first ten amendments to the U.S. Constitution, added in
1791 and consisting of a formal list of citizens’ rights and freedoms.
The Virginia Plan-Proposal presented by Virginia delegates at the 1787
Constitutional Convention which recommended that Congress be bicameral, and
that states' representation be based on their populations. This plan favored
states with large populations, since they would have more representatives in
Congress than less populated states.
The New Jersey Plan- Proposal presented by New Jersey delegates at the 1787
Constitutional Convention which recommended that Congress be unicameral, and
that all states be equally represented in Congress. Small states developed
the proposal to counter the Virginia Plan. The New Jersey Plan gave large and
small states equal power in Congress, and made Congress power to force states
to cooperate with the national government.
The Great Compromise/ Connecticut Plan- Roger Sherman. The Constitutional
Convention’s agreement to establish a two-house national legislature, with
all states having equal representation in one house and each state having
representation based on its population in the other house.
The 3/5ths Compromise- Delegates agreed to count slaves as 3/5ths of a person
when apportioning representation and taxation
The Commerce and Slave Trade Compromise– Congress could not stop the slave
trade before 1808.
The Electoral College- A group selected by the states to elect the president
and vice-president, in which each state’s number of electors is equal to the
number of its senators and representatives in Congress.
Federalist- An advocate of federalism. /A member or supporter of the
Federalist Party- Supporters of the Constitution and of a strong national
government.
Anti-federalists- An opponent of a strong central government.
Loose Interpretation– Alexander Hamilton and Federalists – Society changes
and the Constitution should be interpreted for the changing society, not read
literally.
Strict Interpretation– Thomas Jefferson. Constitution only means what it
explicitly says
Federalism- A system of government in which power is divided between a
central authority and constituent political units. - A political system in
which a national government and constituent units, such as state governments,
share power.
Separation of Powers- The doctrine and practice of dividing the powers of a
government among different branches to guard against abuse of authority. A
government of separated powers assigns different political and legal powers
to the legislative, executive, and judicial branches.
Checks and Balances- The provisions of the U.S. Constitution that prevent
any branch of the U.S. government from dominating the other two branches.
Republicanism- The belief that the government should be based on the consent
of the people.
Legislative Branch- Article I – makes the laws.
The Executive Branch- Article II - administers and enforces the laws.
The Judiciary Branch- Article III - interprets laws and the Constitution.
Faction - A group of persons forming a cohesive, usually contentious
minority within a larger group.
Free Exercise Clause- The legal interpretation of the separation of church
and state raises perplexing legal issues because the Free Exercise Clause
sometimes conflicts with the Establishment Clause. If the government taxes
church property, for example, does the tax violate the church’s right
to “free exercise” of its religion? If, on the other hand, the state exempts
churches from property taxes, does the exemption constitute an
unconstitutional “establishment” of religion.
Establishment Clause- Neither the federal government nor the states can enact
laws that would “establish” or create a religion. In the 17th century, most
American colonies supported official religions with public revenues, and laws
required residents to attend church services. The framers of the Constitution
drafted the Establishment Clause to ensure that there would be no official
national religion.
Eminent Domain – power of the government to seize land for fair compensation
if it is needed for public good
Due Process - the regular administration of the law, according to which no
citizen may be denied his or her legal rights and all laws must conform to
fundamental, accepted legal principles, as the right of the accused to
confront his or her accusers.
Double Jeopardy – being tried for the same crime twice
Self Incrimination – saying anything that can be used against you in court
Rights of the accused – protections in the Bill of Rights for people accused
of a crime
Anarchy- Absence of any form of political authority
Autocrat- A ruler having unlimited power; a despot/A person with unlimited
power or authority:
Theocracy- A government ruled by or subject to religious authority
Oligarchy- Government by a few, especially by a small faction of persons or
families.
Limited/ Absolute Monarchy- Government by a monarch
Totalitarianism- Of, relating to, being, or imposing a form of government in
which the political authority exercises absolute and centralized control over
all aspects of life, the individual is subordinated to the state, and
opposing political and cultural expression is suppressed: “A totalitarian
regime crushes all autonomous institutions in its drive to seize the human
soul” (Arthur M. Schlesinger, Jr.).
Dictatorship- A state or government under dictatorial rule/Absolute or
despotic control or power.
Aristocracy- Hereditary ruling class; nobility.
Democracy- Government by the people, exercised either directly or through
elected representatives
Federalism- A system of government in which power is divided between a
central authority and constituent political units.
GOAL 2
Preamble- A preliminary statement, especially the introduction to a formal
document that serves to explain its purpose.
Elastic Clause (Necessary and Proper Clause) – Article 1 sec. 8 – Congress
has the power to make all laws necessary and proper to the carrying out of
the enumerated powers
Implied Powers – powers assumed under the elastic clause but not explicitly
stated
Full Faith and Credit Clause - Article IV, Section 1 of the Constitution
reads, "Full Faith and Credit shall be given in each State to the public
Acts, Records, and judicial Proceedings of every other State. And the
Congress may by general Laws prescribe the Manner in which such Acts, Records
and Proceedings shall be proved, and the Effect thereof." By the Act of May
26, 1790, Congress ordered that judgments made in the courts of one
state “shall have such faith and credit given to them in every court within
the United Sates.” The full faith and credit clause reinforced the principle
under common law of the equal standing of courts, regardless of locale.
Enumerated Powers – Art. I sec. 8 1-17. Powers explicitly stated in the
Const.
Expressed Powers – same as enumerated powers
Delegated Powers – powers given to Congress
Reserved Powers - powers given to the states
Concurrent Powers – powers of both the states and Congress
Supremacy Clause – U.S. Const. is the law of the land and states can not pass
any laws conflicting with it.
Speaker of the House – Most powerful leader of the House of Representative.
Assigns legislation to committee
President Pro Tempore – acting head of the Senate win the President is not
there. Mostly just a figure head
President of the Senate – vice president. Only votes if there is a tie
House of Representatives – 435 members elected by voters in the states.
Representation is based on population
Senate– 100 - An assembly or a council of citizens having the highest
deliberative and legislative functions in a government, specifically:
Bill- A draft of a proposed law presented for approval to a legislative body.
Law- A rule of conduct or procedure established by custom, agreement, or
authority.
The Committee System- Using a smaller body within a larger body to discuss
and refine laws without taking up the time of the whole legislature
Cloture- A parliamentary procedure by which debate is ended and an immediate
vote is taken on the matter under discussion. Also called closure
Filibuster- The use of obstructionist tactics, especially prolonged
speechmaking, for the purpose of delaying legislative action.
Apportionment- The proportional distribution of the number of members of the
U.S. House of Representatives on the basis of the population of each state
Non-legislative Powers- powers of Congress that do not have to do with making
laws such as approving Presidential nominations
Immunity- immunity granted to officers of the executive branch of government
from personal liability for tortious acts or omissions done in the course of
carrying out their duties
Censure- An official rebuke, as by a legislature of one of its members
Expulsion- The act of expelling or the state of being expelled
Majority and Minority Leaders – party leadership positions in Congress.
Party Whips – party positions in Congress. Keep track of votes
Impeachment- A formal document charging a public official with misconduct in
office
Presidential Succession – order in which people would replace the President
if something happened. Vice-President, Speaker of the House, President Pro-
Tempore, Secretary of State
State of the Union Address – a speech given by the president at the beginning
of every year to set the legislative agenda for that session of congress and
to give a general update on how the country is doing.
Veto Power – President’s power to veto legislation passed by congress
Executive Agreement - an agreement, usually pertaining to administrative
matters and less formal than an international treaty, made between chiefs of
state without senatorial approval.
Executive Orders – issued by president and has force of law
Treaty- A formal agreement between two or more states/countries, as in
reference to terms of peace or trade. Senate approves/ ratifies.
U.S. Supreme Court – highest court of the land. Only hears appeals. Can
choose which cases it will hear
Chief Justice – head of the U.S. Supreme Court
Associate Justices - 8
Original Jurisdiction – first level of court to hear a case
Appellate Jurisdiction – right to review cases after they have been decided
in a lower trial court
Concurrent Jurisdiction – right for more than one court to hear a case
Exclusive Jurisdiction –right for a court to be the only court to hear that
case
Impeachment- To charge (a public official) with improper conduct in office
before a proper tribunal.
Pardons- Exemption of a convicted person from the penalties of an offense or
crime by the power of the executor of the laws; An official document or
warrant declaring such an exemption.
Commutations- Reduction of a penalty to a less severe one
Reprieve- To postpone or cancel the punishment of.
Writ of Habeas Corpus- a writ ordering a prisoner to be brought before a judge
Bill of Attainder – law passed suspending due process
Ex post facto laws – law passed that makes an act illegal after it was
committed
Rule of Law – no one is above the law
Judicial Review – power of the Supreme Court to declare acts of the President
and Congress unconstitutional
Tradition- Transfer of property to another/The passing down of elements of a
culture from generation to generation, especially by oral communication.
Custom - A common tradition or usage so long established that it has the
force or validity of law/traditions and practices of a specific religion or
culture
Equal Protection – laws apply to everyone equally
Citizenship- The status of a citizen with its attendant duties, rights, and
privileges.
Marbury v. Madison 1803 – established judicial review
McCulloch v. Maryland 1819 – established national supremacy and the use of
the elastic clause
Gibbons v. Ogden 1824 – reaffirmed national supremacy
Plessy v. Ferguson 1896 – separate is equal
Brown v. Board of Education 1954 – separate is inherently unequal
Swann v. Charlotte-Mecklenburg Board of Education 1969 – bussing can be used
to end de-facto segregation
Korematsu v. US 1944 – president can suspend rights of citizens in times of
war
Heart of Atlanta Motel, Inc. v. US 1964 – Congress can regulate interstate
trade
Furman v. Georgia 1972 – death penalty is unconstitutional when used
arbitrarily
Gregg v. Georgia 1976 – death penalty itself is not unconstitutional
Gideon v. Wainwright 1963 – 6th amendment right to a lawyer applies to all
cases no matter how small
Regents of the University of California v. Bakke 1978 – affirmative action
case
New Jersey v. T.L.O. 1985 – schools do not need a search warrant in order to
search students they just need reasonableness
Bethel School District v. Frasier 1986 – schools can regulate student speech
if it goes against the moral obligation of a school to provide a quality
learning environment
Tinker v. Des Moines 1969 – schools can not regulate speech if it doesn’t
pose any sort of threat
Hazelwood v. Kuhlmeier 1988 – schools can regulate school newspapers because
they are part of the learning process
Texas v. Johnson 1989 – flag burning is protected under the 1st amendment
Engel v. Vitale 1962 – school prayer is a violation of the 1st amendment
Miranda v. Arizona 1966 – accused must be notified of their 5th amendment
rights before any questioning
Mapp v. Ohio 1961 – anything taken without a search warrant can not be used
in court
Redistricting- To divide again into districts, especially to give new
boundaries to administrative or election districts
Interest Groups – groups of citizens with common interest that join together
to pool resources and have a greater impact on public policy
Majority rule/ Minority rights – decisions are based on the will of the
majority but must at the same time not interfere with the rights of the
minority
Department of Homeland Security – latest presidential cabinet department
Patriot Act - a U.S. law enacted in response to the September 11, 2001
terrorist attacks, which gave law-enforcement officials greater ability to
tap telephones and track Internet users; also called
Fiscal Policy – government’s use of taxing and spending in order to stimulate
or slow down the economy
Expenditure- The act or process of expending; outlay.
Revenue- The income of a government from all sources appropriated for the
payment of the public expenses.
Regressive taxation – poorer people pay a higher percentage of their income –
everyone pays the same amount in tax, example sales tax.
Progressive taxation – richer people pay a higher percentage of their income –
example income tax
Proportional taxation – everyone pays the same percentage of their income –
also known as a flat tax
Income Tax- A tax levied on net personal or business income.
Excise tax- An indirect tax charged on the sale of a particular good.
Corporate Tax- A levy placed on the profit of a firm different rates are used
for different levels of profits
Direct Tax- A tax, such as an income or property tax, levied directly on the
taxpayer.
Estate Tax- A tax imposed on the right to transfer property by inheritance
and assessed on the net value of a decedent's estate before distribution to
the heirs. Also called death tax by its opponents.
Tariffs- A list or system of duties imposed by a government on imported or
exported goods.
Social Security often Social Security Abbr. SS- A government program that
provides economic assistance to persons faced with unemployment, disability,
or agedness, financed by assessment of employers and employees.
Budget deficit/ Surplus – when government revenue is less than/greater than
its expenditures
National debt – total of all government deficits minus anything paid on it
Deficit spending – when the government spend more than it takes in
Tax returns – filed by individuals and companies to report earnings and tax
paid
Bond- A certificate of debt issued by a government or corporation
guaranteeing payment of the original investment plus interest by a specified
future date.
Balanced Budget – expenditures equal revenue. All state and local
governments must maintain a balanced budget.
Federal Bureau of Investigation – law enforcement agency at the federal
level. Only investigate federal crimes
Central Intelligence Agency – government agency that collects information on
people and foreign countries
Internal Revenue Service – collects taxes
Department of Transportation – oversees roads and public transportation
National Transportation Safety Board – oversees travel safety
U.S. Citizenship and Immigration Services – oversees immigration and
naturalization
Drug Enforcement Agency – oversees drug smuggling, making, selling, etc.
Alcohol Tobacco and Firearms – oversees the sale of tobacco, alcohol and
firearms. Makes sure stores follow laws of who can buy.
Federal Emergency Management Administration (FEMA) – agency responsible for
organizing and getting help to people who need housing and such due to a
natural disaster. (Think Hurricane Katrina)
Medicare/ Medicaid – government sponsored health program for the elderly
(Medicare) and the poor (Medicaid)
Center for Disease Control – Researches and reports on diseases and outbreaks
GOAL 3
Census- A count of the citizens and an evaluation of their property for
taxation purposes.
Separation of Powers – 3 branches independently elected with different
purposes
Checks and Balances – each branch has powers to oversee and check the other
branches. Example: presidential veto over congress
Amendment Process – 2/3 state legislature call convention or 2/3 Congress
proposes Amendment and then 3/4th of state legislature or ¾ of states’
citizens vote to approve it.
Popular sovereignty – power lies with the people
Incorporation – legal right of a city to exist and govern itself
Governor – executive of a state
Lieutenant Governor – vice-executive of the state, takes over if Governor
can’t serve and votes in State Legislature if there is a tie
Types of local government: County, city, special districts, townships,
metropolis
Mayor- The head of government of a city, town, borough, or municipal
corporation
Mayor-council plan- people elect a mayor and a council. Can be strong mayor
system or weak mayor system
City or town council- legislative branch at the local level
Council-manager plan- people elect a town council and sometimes a mayor but
the council appoints a manager to run the city, kind of like a CEO
County Commissioners – people elect 5 commissioners to serve as the
legislative branch of the county government
Sheriff- The chief law enforcement officer for the courts in a U.S. county.
Chief of police – head of the local police department
Statutes- Laws enacted by a legislature.
Ordinance- A statute or regulation, especially one enacted by a city
government
Board of Education – oversees public schools within a county or state
Alderman – local elected representative
Referendum – a law or proposed amendment on the ballot for voters to vote on
State v. Mann 1830 – established supremacy of the N.C. constitution over
local laws
The Leandro Case – stated that the N.C. constitution did not require equal
funding of education
Civil Rights - rights to personal liberty established by the 13th and 14th
Amendments to the U.S. Constitution and certain Congressional acts, esp. as
applied to an individual or a minority group.
Gerrymandering – oddly shaped creation of electoral districts solely on the
means of getting a desired outcome in an election
State Income Tax – percentage of earned income paid to the state government
Corporate Income Tax – percentage of money maid by a business paid to the
state
Sales Tax – percentage of the price of a purchased product paid to the state
Excise Tax –tax on luxury items such as tobacco and gasoline. Often used as
an dis-incentive
Inheritance Tax – tax on money you inherit when someone dies. Sometimes
called a death tax
Property Tax – taxed based on the value of property you own. Usually a
certain amount per $100/$1,000 in value
Estate Tax – tax on home and belongings passed on after death. Also called a
death tax
Intergovernmental Revenue – money transferred from one level of government to
the other
Impact Fees – fees charged to builders and passed on to new home buyers to
cover the cost of building roads, sewers, schools, etc. Very controversial
in Wake County right now.
State & Municipal Bonds – this is how state and local government raise money
for capital projects
GOAL 5
Federal Courts – district courts, U.S. court of appeal, U.S. supreme court
State Courts – lower courts, trial courts, appellate courts, state supreme
courts
Writ of Certiorari – request of judicial review
Brief –supreme courts written decision in a case
Oral Argument – presented by lawyers to the supreme court
Majority Opinion – decision of majority of justices
Dissenting Opinion – decision by one or more justices against the majority
opinion
Concurrent Opinion – decision by one or more justices that agrees with
majority opinion but has different
reasoning
Felony- One of several grave crimes, such as murder, rape, or burglary,
punishable by a more stringent sentence than that given for a misdemeanor
Misdemeanor- An offense less serious than a felony.
Tort- Damage, injury, or a wrongful act done willfully, negligently, or in
circumstances involving strict liability, but not involving breach of
contract, for which a civil suit can be brought.
Court Docket – supreme court calendar
De facto – not by law
De jure – by law
Prosecutor – state in criminal cases, side bringing criminal case
Complaint – filed by the plaintiff in a civil case stating the alleged
wrongdoing and reasoning of responsibility
Defendant – person who is being sued in a civil case
Plaintiff – person bringing suit in a civil case
Subpoena – court order to turn evidence over to the court
Summons – court order to appear in court
Arrest Warrant – issued by a judge for the arrest of a suspect
Indictment – grand jury finds enough evidence to go to trial
Information / discovery – part of civil case when lawyers from both sides
gather information on the case. Many cases are settled and end before going
any further.
Perjury – lying under oath
Plea – guilty, innocent, no contest
Plea Bargaining – saying you are guilty but to a lesser charge
Bail- Security, usually a sum of money, exchanged for the release of an
arrested person as a guarantee of that person's appearance for trial.
Sentence – consequence if you are found guilty
Public Defender – lawyer appointed to represent a defendant if that defendant
can not afford one
Hearing – where you are presented the charges against you in front of a judge
and bail is set
Bailiff- A court attendant entrusted with duties such as the maintenance of
order in a courtroom during a trial.
Verdict – guilty or innocent
Settlement – responsible and willing to pay x amount
Bill – piece of legislation that if passed will become a law. “I’m just a
bill, just a bill on capital hill”
Standing Committee – permanent, always there, continues work session to
session
Seniority System – used to appoint people to committee. Longer you serve
more likely to get Chair or committee you want
House Rules Committee – most powerful committee in House. Sets debate rules
and schedules debates and votes
Line Item Veto – ability to veto only a part of a bill before signing it into
law
Pocket Veto – president does nothing to a bill that has been passed by
Congress and Congress goes out of session within a few days
Filibuster – way to kill a bill in the Senate by talking it to death
Cloture – way to end a filibuster. Need 3/5th vote
Rider – completely unrelated amendments to a bill. Can only be added in
Senate not House
Town Meetings – oldest form of government in America. Exercise of direct
democracy. Seen in New England
At-Large – elected based on the whole city/county instead of just a small
ward/precinct within it.
Zoning – decision of local government for land development – residential,
commercial, industrial, mix, ect.
GOAL 6
Criminal Law - the laws of a state or country dealing with criminal offenses
and their punishments.
Civil Law - the body of laws of a state or nation regulating ordinary private
matters, as distinct from laws regulating criminal, political, or military
matters.
Constitutional Law - a body of statutory and case law that is based on,
concerns, or interprets a constitution
Administrative Law - the body of rules and principles that governs the duties
and operations of federal or state administrative agencies, as commissions
and boards.
Statutory Law - the written law established by enactments expressing the will
of the legislature, as distinguished from the unwritten law or common law
International Law - the body of rules that nations generally recognize as
binding in their conduct toward one another.
State Bureau of Investigation – Responsible for law enforcement at the state
level
Franking Privilege – power of Congressional members to mail anything without
paying to mail it
Sheriff – chief law enforcement officer at the county level. Enforces court
orders and oversees jails and deputies
Probation - a method of dealing with offenders, esp. young persons guilty of
minor crimes or first offenses, by allowing them to go at large under
supervision of a probation officer.
Parole - the conditional release of a person from prison prior to the end of
the maximum sentence imposed.
Juvenile Detention – incarceration for juveniles
Incarceration – being put in jail
GOAL 10
Compromise- A settlement of differences in which each side makes concessions.
Cooperation- The association of persons or businesses for common, usually
economic, benefit.
Collaboration- To work together, especially in a joint intellectual
effort./To cooperate treasonably, as with an enemy occupation force in one's
country.
Racism- The belief that race accounts for differences in human character or
ability and that a particular race is superior to others.
Sexism- Discrimination based on gender, especially discrimination against
women.
Ageism- Discrimination based on age, especially prejudice against the elderly.
Bias- A preference or an inclination, especially one that inhibits impartial
judgment/An unfair act or policy stemming from prejudice.
Gender- The condition of being female or male; sex.
Disability- The condition of being disabled; incapacity
Religion- Belief in and reverence for a supernatural power or powers regarded
as creator and governor of the universe.
Nationality- The status of belonging to a particular nation by origin, birth,
or naturalization.
Physical Appearance
Multicultural- Of, relating to, or including several cultures/Of or relating
to a social or educational theory that encourages interest in many cultures
within a society rather than in only a mainstream culture
“Melting Pot” Theory – many cultures that meld together into one American
culture
“Tossed Salad” Theory – many cultures that keep their own unique
characteristics
Literacy- The ability to read and write
Taxpayer- one who pays taxes
Charity- Provision of help or relief to the poor; almsgiving.
Tolerance- The capacity for or the practice of recognizing and respecting the
beliefs or practices of others
Patriotism- Love of country and willingness to sacrifice for it
Baby Boomers – people born after WWII. Currently reaching retirement and
straining the social security and
Graying Population – due to better health and medicine a larger percentage of
the population is 60 and over
Taxation- The act or practice of imposing taxes.
Citizen Apathy- A lack of caring or action within the citizenry, for example,
low voting turnout. COMBAT APATHY!
Security- Freedom from risk or danger; safety
Economic Cycles- a pattern of increases and decreases in economic activity. –
Expansion, peak, contraction, and trough
Disease - A pathological condition of a part, organ, or system of an organism
resulting from various causes, such as infection, genetic defect, or
environmental stress, and characterized by an identifiable group of signs or
symptoms.
Poverty- The state of being poor; lack of the means of providing material
needs or comforts.
Unemployment- Out of work, especially involuntarily; jobless.
Unemployment Rate- As measured by the Bureau of Labor Statistics(BLS), the
proportion of the labor force actively seeking work but unable to find jobs.
Substance Abuse- The overindulgence in and dependence on an addictive
substance, especially alcohol or a narcotic drug
Racism/Discrimination- The belief that race accounts for differences in human
character or ability and that a particular race is superior to others.
Homelessness- Having no home or haven
Crime- An act committed or omitted in violation of a law forbidding or
commanding it and for which punishment is imposed upon conviction.
Acid Rain/Greenhouse Effect- Acid precipitation falling as rain. The
greenhouse effect is the rise in temperature that the Earth experiences
because certain gases in the atmosphere (water vapor, carbon dioxide, nitrous
oxide, and methane, for example) trap energy from the sun.
Natural Disasters- Calamity caused by nature resulting in loss of life or
destruction of property
Pollution- The act or process of polluting or the state of being polluted,
especially the contamination of soil, water, or the atmosphere by the
discharge of harmful substances.
Freedom- The condition of being free of restraints.
Liberty- The condition of being free from restriction or control. The right
and power to act, believe, or express oneself in a manner of one's own
choosing
Justice- The quality of being just; fairness. The principle of moral
rightness; equity
Self-Determination- Determination of one's own fate or course of action
without compulsion; free will. Freedom of the people of a given area to
determine their own political status; independence
Socio-Economic Status- An individual’s or group’s position within a
hierarchical social structure. Socioeconomic status depends on a combination
of variables, including occupation, education, income, wealth, and place of
residence. Sociologists often use socioeconomic status as a means of
predicting behavior.
_____________________________________________________________________________
GOAL 4
Political Party
*Democratic – seen as party of the people, more liberal, in support
of more social welfare programs
*Republican – seen as party of the business class, more conservative,
doesn’t like social welfare only corporate welfare
*Third Parties (minor) – challenge the major parties, usually focus
on limited issues
One-Party System – only one dominant party in a country - Communism
Two-Party System – 2 dominant parties compete for power and hold most seats
in legislature
Multi-Party System – many parties compete for influence and seats in
parliament. Often must coalition build to get a majority
Liberal – in support of more social welfare programs, more government control
of some industries such as healthcare, support rights for marginalized and
minority groups
Moderate –
Conservative – limited role of government
Platform – written document of political parties stance on current issues
Planks – each individual part of the platform
Candidates – people running for political action
Plurality Vote – more than any other candidate
Majority Vote – more than 50% of the vote
General Election – held every year. 1st Tuesday after 1st Monday in November
Primary Election – Part of the nomination process for candidates from major
political parties. elections held to vote for a candidate to run for
president for one political party
Partisan/Nonpartisan – based on political party ideology/not based on
political party ideology
Caucus- A group within a legislative or decision-making body seeking to
represent a specific interest or influence a particular area of policy:
Political Action Committee – formed by corporations and interest groups in
order to support candidates for election since the actual groups can’t give
that much money
Canvass- To go through (a region) or go to (persons) to solicit votes or
orders; To conduct a survey of (public opinion); poll.
Endorsements – famous or popular people support candidates
Propaganda- The systematic propagation of a doctrine or cause or of
information reflecting the views and interests of those advocating such a
doctrine or cause.
*Glittering Generalities – sound good but don’t mean anything
*Bandwagon – everybody else likes this person
*Stack Cards -
*Name Calling – putting down opponent
*”Just Plain Folks” -hey, I’m just like you!
*Image Molding
Polling Place – place people go to vote
Precinct – smallest electoral division. All people in same precinct vote at
the same polling place
Types of Ballots – straight, lever, electronic, butterfly, punch-card
Board of Elections - oversee ballots, registration, and voting
Exit Poll – survey taken as people leave polls to try to predict winners
National Convention – officially nominates that party’s presidential
nomination, but based on primary results
Recall Election – vote to pull someone out of office. Gov. of Calif. Grey
Davis
Initiative – procedure for getting a law or amendment onto the ballot
Proposition – petition for a law for voters to vote on
Electors – people chosen to represent a candidate at the electoral college
Electoral College – group of electors that actually elect the president
Political Machine – very strong political party organization that manages to
get their people elected year after year to all levels of government in an
area
Mass Media – media that reaches the masses of people
Vote- A formal expression of preference for a candidate for office or for a
proposed resolution of an issue.
Protest- To object to, especially in a formal statement.
Bias- A preference or an inclination, especially one that inhibits impartial
judgment
Slander- Oral communication of false statements injurious to a person's
reputation.
Libel- A false publication, as in writing, print, signs, or pictures that
damages a person's reputation
Petition- A formal written document requesting a right or benefit from a
person or group in authority
Survey- A gathering of a sample of data or opinions considered to be
representative of a whole.
Random Samples – survey of a sample of people that is about 1500 people that
demographically reflect that total population
Activist- A proponent or practitioner of activism: political activists.
Lobbyist- someone who tries to persuade legislators to vote for bills that
the lobbyists favor
Apathy- Lack of interest or concern, especially regarding matters of general
importance or appeal; indifference
Criminal Law- laws that deal with actual criminal statutes
Prosecution – side that investigates and brings a case against the accused
Civil Law – torte law. Civil wrong-doings
Lawsuits- civil suits
Mandatory Sentencing – required sentence for specific crimes
Anarchy- Absence of any form of political authority.
Patriotism- Love of and devotion to one's country.
Peace Corps- A federal government organization, set up in 1961, that trains
and sends American volunteers abroad to work with people of developing
countries on projects for technological, agricultural, and educational
improvement.
AmeriCorps – combined the peace corps and job corps
Job Corps - an organization within the Department of Labor that operates
rural conservation camps and urban training centers for poor youths.
Senior Corps – volunteer opportunities for senior citizens
Arbitration – third party decides case
Mediation – third party tries to help two sides reach a decision
Pre-hearing Settlement – civil cases that are settled before trial to avoid
costly long battle
GOAL 7
Economics – study of decision making
Want – desire but don’t need
Need –must have for survival
Land – natural resources
Renewable Natural Resource – naturally makes more - trees
Nonrenewable Natural Resources - limited supply within earth - oil
Labor – human activity
Capital – money, building, machines, etc.
Entrepreneurship –ambition, innovation, and ideas
Productivity - amount that can be produced with a set amount of labor and
time
Incentives – something offered in order to persuade people to act one way or
another
Fixed Costs – always the same no matter how much is produced
Variable Costs –varies depending on how much is produced
Total Costs – fixed and variable
Marginal Costs – cost to produce one more
Specialization – only making what you are absolutely best at making (wine in
Italy, Cheese in Wisconsin)
Human Capital – brainpower and physical labor of workers
White Collar – professional job – business, teacher, doctor, etc.
Blue collar – labor/trade job – custodian, mechanic
Skilled Workers – people with specific skills or knowledge – mechanic, plumber
Unskilled Workers – people with not specific skills – cashier, retail
Capitol Goods – something used by a business to make/provide something else
(wood to build a house)
Consumer Goods – something individuals buy to use (toilet paper)
Law of Diminishing Return – the more you use/eat something the less
satisfying it is (first slice of pizza taste better the 20th slice)
Laissez-Faire- The principle that the government should not interfere in the
economy
Invisible Hand – what controls the market (supply and demand) in a capitalist
society
Competition – results in highest quality product at lowest price
Consumer Sovereignty – customer controls the market
Private Property – people own factors of production and can do what they want
with them.
Profit Motive – if you are willing to risk you money, time, energy, you can
make money
Communist Manifesto – book written by Karl Marx about communist ideology
Wealth of Nations – book written by Adam Smith about capitalism
The Keynesian Theory- Emphasizing government spending and deficits can help
the economy weather its normal ups and downs.
GOAL 8
Market Economy- an economic system in which the government plays no role, and
what is produced is based solely on what is in demand. There are not true
market economies in existence today.
Mixed Market Economy – some government regulation, minimal government
ownership
Command Economy- an economic system in which the government controls all
aspects of production and consumption, with no individual decisions being
made. North Korea is an example of a command economy.
Mixed Economy- an economic system in which the government is deeply involved
in economic decisions through its role of regulator, consumer, subsidizer,
issuing taxes, employer, and borrower. The US can be considered a mixed
economy.
Traditional Economy- an economic system where what is produced is based
solely on the needs of a small community. For example, if wheat is needed,
the community grows wheat. Many 3rd world countries have traditional
economies.
Voluntary Exchange – producers and consumers willingly make transactions in
the market place because they benefit both sides
Patents – protects people’s ideas and inventions
Copyrights – protects people’ thoughts and publications
Full Employment – everyone who wants a job has a job
Division of Labor – different people perform different parts of a job to
ultimately make one thing
Circular Flow of Economic Activity – flow of money and resources between the
consumer sector, business sector, government sector and foreign sector
Economic Interdependence – domestic economies are dependent upon the
economies of other countries. Example – U.S. depends on oil from middle
east, Russia and Venezuela
Demand Curve/Schedule – how much people want at a given price
Disposal Income – money left over after paying taxes
Complimentary Goods – two items used together – Peanut butter and jelly
Substitute Good – two items used in place of one another – butter or margarine
Surplus – too much product, don’t sell it all, price set about equilibrium
price
Shortage – not enough products to meet demand, price set below equilibrium
price
Minimum Wage – minimum wage per hour that employers can pay by law. Price
floor – creates surplus of labor/shortage of jobs
Inflation- The rise in price of consumer goods, the devaluation of currency.
Deflation- The fall in price of consumer goods. Ex: Computers, a computer
worth $10,000 ten years ago would now be worth $200
Interest Rates – percentage banks charge to lend you money or pay you to
borrow your money in the form of a savings account or C.D.
Trickle-Down Effect - are characterizations of the policy of lowering taxes
on high incomes and business activity. Proponents of these policies claim
that they will promote new investment and economic growth, thereby indirectly
benefiting people who do not directly pay the taxes.
Supply Side Economics - a school of macroeconomic thought that argues that
economic growth can be most effectively managed using incentives for people
to produce (supply) goods and services, such as adjusting income tax and
capital gains tax rates.
Monopoly – no competition only one producer
Oligopoly – very little competition only a few producers
Competitive Market – several producers – branding differentiates
Mergers – two companies coming together as one, limits competition
Sole Proprietorship – company owned by one person
Partnership – company owned by 2 or more people
Corporation – company owned by stock holders
Cooperative - a jointly owned enterprise engaging in the production or
distribution of goods or the supplying of services, operated by its members
for their mutual benefit, typically organized by consumers or farmers.
Franchise - the right or license granted by a company to an individual or
group to market its products or services in a specific territory.
Limited Liability – applies to corporation, only responsible for amount you
put in if company goes bankrupt or gets sued
Unlimited Liability – full responsibility for debt/ lawsuits
Stock – share of a company
Stock Market – places where stocks are bought and sold
Dividend – money earned on stock based on profits of company
Bond – loan to a company
Craft Union – union of skilled workers, ex. plumbers
Industrial Union – union of workers, ex. Auto workers
Collective Bargaining – negotiations between management and union reps to
agree on a contract for the workers
Lockout – management locks out workers without pay to try to force them to
accept a contract on their terms
Strike – workers don’t work to try to force management to accept a contract
on their terms
Social Security Act of 1935 - established the social security system
National Labor Relations Act, 1935 - guaranteed workers the right to join
unions
Fair Labor Standards Act, 1938 - set working standards especially in the area
of minimum wage and child labor
Taft-Hartley Act, 1947 - limited the activities of union and abolished closed
shops
Anti-trust Laws – no monopolies
Labor Union – created to help workers fight for better working conditions and
pay
Certificate of deposit – money put into the bank for a specific period of
time.
Savings account deposit – money put in the bank but can be withdrawn at any
time
Credit Cards – way of borrowing money short term
Debit Cards – plastic card that allows you to spend money in your checking
account
Mutual Funds
Commercial Bank – handle all types of financial transactions
Savings & Loan Associations – mostly savings and home loans
Credit Unions – for members only, non-profit so higher interest rates on
savings and lower interest rates on loans
Federal Deposit Insurance Commission – protects money put into banks in case
they go bankrupt
Investment Spending –money spent in order to make more money
Capitol Investment – buying things that can be used to make other things to
sell
Reserve Requirement – percentage of deposits that bank must keep on hand
GOAL 9
Peak/Prosperity – highest point in the business cycle
Contraction/Recession – time between peak and trough, period of declining GDP
Trough/Depression – lowest point in the business cycle
Expansion/Recovery – time after trough until level of last peak, time of
increasing GDP
Gross Domestic Product – value of all goods and services produced in a
country in a year
Per Capita GDP – GDP per person – better measure of standard of living
Standard of Living – availability and access to needs and wants
Consumer Price Index- The key measure of inflation that relates prices in one
year to prices in another year.
Deregulation – government relaxing rules on businesses and banking
Microsoft Anti-Trust Case – case against Microsoft for being a monopoly.
Found Microsoft guilty and they had to release information about their
operating system in order to create more competition
Operation Iraqi Freedom – current was in Iraq
Out-sourcing – using people outside our country to perform jobs for companies
within our country. Ex: customer service for cell phone
Tariffs – tax on imported products, AKA Customs duty
Exchange Rate – value of currency in comparison to one another
Multinational Conglomerate – company that operates in more than one country
Globalization – speed at which the world can connect and interact
North American Free Trade Agreement – no trade barriers such as tariffs on
trade between Canada, U.S., and Mexico
World Trade Organization – international trade association that promotes free
trade
European Union – lowered trade barriers among European countries by
establishing a common currency and lowering tariffs
Unfavorable Balance of Trade – importing more than you export (buying more
than you sell)
Comparative Advantage – due to resources, labor, education, etc. you are
naturally better at making something and can do it easier, faster and cheaper
Developed Countries - industrialized
Developing Countries – agrarian, traditional, little industry
United Nations – international peace keeping organization
International Monetary Fund - an international organization that promotes the
stabilization of the world's currencies and maintains a monetary pool from
which member nations can draw in order to correct a deficit in their balance
of payments: a specialized agency of the United Nations.
World Bank - an international bank established in 1944 to help member nations
reconstruct and develop, esp. by guaranteeing loans: a specialized agency of
the United Nations.
Free Trade – no trade barriers or tariffs
Monetary Policy- Manipulation of the supply of money in private hands by
which the government can control the economy
Fiscal Policy- The policy that describes the impact of the federal budget-
taxes, spending, and borrowing- on the economy
Loose (Easy) Money Policy – stimulate economy by increasing the money supply
Tight Money Policy – slow down economy by decreasing money supply
Discount Rate – interest rate the fed charges banks
Open Market Operations – buying and selling of treasury bonds
Revenue – money the government collects
Inflation – steady increase in overall cost of goods
Recession - 6 straight months of declining GDP
Bear and Bull Markets – Bear market is pessimistic/prices down – Bull is
optimistic/lots of investing/prices up
