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american cit exam

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CAPITALIST SYSTEM
a system where private own most, if not all, of the means of production and decide how to use them within legislated limits
SOCIALISM
the belief that means of production should be owned and controlled by society, either directly, or through the government
TRADE DEFICIT
whenever the value of the products it imports exceeds the value of the products it exports
INTEREST GROUPS
people who share a point of view about an issue sometimes unite to promote their beliefs in a group
CONCURRENT POWERS
Powers that both levels of government can exercise, examples: power to collect taxes, borrow money, and set up courts and prisons
SUPPLY ELASTICITY
a measure of how the quantity supplied of a good or service changes in response to changes in price
FREE TRADE
convincing other countries not to pass laws that block or limit trade
MIXED ECONOMY
combines basic elements of a pure market economy and a command economy; combines characteristics of more than one type of economy
PRODUCTIVITY
a measure of the amount of output produced by a given amount of output produced by a given amount of inputs in a specific period of time
14TH AMENDMENT
defines a citizen as anyone "born or naturalized in the United States"
IMPLIED POWERS
powers that congress has that are not stated explicitly in the Constitution
PUBLIC OPINION
includes the ideas and attitudes that most people hold about elected officials, candidates, government, and political issues
TOTALITARIAN
the governments control extends to almost all aspects of peoples lives, typically have a master plan for the economy and society
DYNASTIES
families that hold power for many generations
STATE COUNCIL
highest executive or general of state power in the people's republic of China
BALANCE OF TRADE
the difference between the value of a nation's exports and its imports
PARLIAMENTARY SYSTEM
3 branches of government (executive and legislative branches are one); Prime Minister chosen by members of Parliament; some one other than the Prime Minister could be head of state
PROFIT
the amount of money left over after all the costs of production have been paid
HUMAN RIGHTS
the fundamental rights that belong to every person on earth
SUPPLY CURVE
a graph that shows the amount of a product that would be supplied at all possible prices in the market
GDP
it is the total value, in dollars, of all the final goods and services produced in a country during a single year; gross domestic product
PRIME MINISTER
the leader of the executive branch of a parliamentary government
INTERNATIONAL TRIBUNALS
courts with authority from the UN to hear cases and make judgments about violations of international human rights law
ALIENS
non citizens
FIXED COST
costs, or expenses that are the same no matter how many units of a good are produced, examples are mortgage payments and property taxes
NATURAL RESOURCES
all the "gifts of nature" that make production possible
BILL OF RIGHTS
first 10 amendments
SEGREGATION
social separation of the races
EITC
gives tax credits and even cash payments to qualified workers
SHORTAGE
the amount by which the quantity demanded is higher than the quantity supplied
UNITARY
centralized
MEDIUM
a way of communicating
PRESIDENT PRO TEMPORE
presiding officer of the Senate if the Vice President is absent, Robert Byrd
ELECTORAL COLLEGE
A group of people who would be named by each state legislature to select the president and vice president
RESERVE POWERS
powers granted ONLY to the states
DEVOLUTION
transferring power to local authorities
CIVIL LIBERTIES
the freedoms we have to think and act without government interference or fear of unfair treatment
FEDERALISM
form of government in which power is divided between the federal government and the states
CIVICS
the study of the rights and duties of citizens
CAPITAL
previously manufactured goods used to make other goods and services, these are the tools, machinery, and buildings used to make products
MARKET ECONOMY
system where individuals own the factors of production and make economic decisions through free interaction
ECONOMICS
the study of how we make decisions in the world where resources are limited
NEEDS
required for survival, such as food
CENSORSHIP
government cannot ban printed materials or films merely because they contain alarming or offensive ideas, cannot censor info before it is published
NATURALIZATION
the legal process to become a citizen, and there are 2 ways: by birth and by foreigners who choose to become citizens
SECRETARY GENERAL
the chief executive officer of the UN, 5 year term limit of 2 terms and appointed by General Assembly
GENOCIDE
the deliberate killing of a racial or cultural group
SATELLITES
nation politically and economically dominated or controlled by another, more powerful country
24TH AMENDMENT
Ended the poll tax, allowed a citizen to vote in a presidential or congressional election, whether they could pay or not to benefit the lower-class citizen, banned poll taxes in both state and national elections
EXPRESSED POWERS
Powers specifically granted to the national government
INCENTIVES
reward offered to try to persuade people to take certain economic actions
UTILITY
the pleasure, usefulness, or satisfaction we get from using the product
ANTI-FEDERALIST
opposed the Constitution and felt that it gave too much power to the national government and took too much away from the states
SURPLUS
the amount by which the quantity supplied is higher than the quantity demanded
UNITARY SYSTEM
power is centralized, gives all key powers to the national or central government
DECLARATORY ACT
Parliament had the right to tax and make decisions for the colonist
COMPLEMENTS
they are used together
STABILITY
how firmly people hold their views; people's opinions are less likely to change when they have a firm belief about a topic
ABSOLUTE MONARCHS
a monarch that has complete and unlimited power to rule their people
ELECTORAL VOTES
depending on the states population, is how many electoral votes they have, the people in the state vote for the president if that state has a big population then their votes will count for more
GEORGE WASHINGTON
Head of the Constitutional Convention, meaning that he led all of the meetings, and the people loved him
BANDWAGON
persuasive, everyone is voting for me so you should too
VARIABLE COST
expenses that change with the number of products produced, examples are wages and raw materials
HOUSE OF LORDS
Highest court of appeal
COMPETITION
the struggle that goes on between buyers and sellers to get the best products at the lowest prices
COMMON LAW
a system of law based on precedent and customs
APARTHEID
system of laws that separated racial and ethnic groups and limited the rights of blacks in South Africa
LABOUR PARTY
Gordon Brown; More active role for government; Democrat party
JURISDICTION
A courts authority to hear and decide cases
DICTATORS
a ruler who exercises complete control over a state
STEPS TO BECOME A CITIZEN
Step 1: sign declaration of intention; Step 2: Filed with immigration and naturalization service; Step 3: live in the US for 5 years (take classes-optional, which is for the exam they have to take); Step 4: interview with an agent; Step 5: take exam; Step 6: go to a ceremony and pledge your allegiance to the US
COST-BENEFIT ANALYSIS
requires you to compare the marginal costs and marginal benefits of a decision
COMMUNIST PARTY
one class would evolve, property would all be held in common, and there would be no need for government; the central government directs all major economic decisions
TARIFF
a tax on an imported good
MERCANTILISM
the theory that a country should sell more goods to another country than it buys
ARTICLES OF CONFEDERATION
1st constitution for the US; Set up a 1 house legislature; couldn't enforce laws, pay taxes, and couldn't amend unless all states agreed
LOBBYIST
representatives of interest groups who contact lawmakers or other government officials directly to influence their policy making
PRICE
1. Prices in a competitive market do not favor either the producer or the consumer; 2. Buyers and sellers react to the new level of prices and adjust their consumption and production accordingly; 3. Consumers have the freedom to choose between a variety of products at a wide range of prices; 4. Allows us to make decisions quickly and efficiently
PROTECTIONISM
when a country tries to protect their industries from foreign competition by placing tariffs on imports, this often harms the economy of other nations and the global economy
SECURITY COUNCIL
The UN's peacekeeping arm; has 5 permanent members trying to keep peace, each member has 1 vote, 10 nonpermanent members (2 years)
SUPPLY
the various qualities of a good or service that producers are willing to sell at all possible market prices
POPULAR SOVEREIGNTY
the notion that power lies with the people
GLITTERING GENERALITY
statement for candidate to look good, no backing up issue though
REPUBLIC
any representative government headed by a president or similar leader, rather than someone who inherits the position
INTOLERABLE ACTS
Coercive acts; restricted colonies rights
CONSUMER SOVEREIGNTY
describes the consumer as the "king", or ruler of the market, the one who determines what products will be produced
SUPPLY SCHEDULE
illustrates the law of supply
LAW OF SUPPLY
the principle that suppliers will normally offer more for sale at higher prices than at lower prices
EXECUTIVE BRANCH
carries out the laws
INFLATION
when the production of goods and services cant keep up with the growth in demand and prices begin to rise
ENDORSEMENTS
someone famous backing you up
DIVISION OF LABOR
the breaking down of a job into separate, smaller tasks, which are performed by different workers
SPECIALIZATION
takes place when people, businesses, regions, and even countries concentrate on goods and services that they can produce better than anyone else
SUPPLY INELASTIC
if a quantity changes very little when prices go up or down; products that require producers to invest large sums of money in order to produce them (wedding dresses, digging for oil)
MAYFLOWER COMPACT
It was the 1st example of direct democracy; all men can vote, and majority rules
JUDICIAL BRANCH
interprets and applies the laws
COLLECTIVE FARM
small holdings that were combined to work jointly by groups of peasants under government supervision
EXCHANGE RATE
what the price of your nation's currency is in terms of another's currency
CONSTITUTIONAL MONARCHIES
the power of the hereditary ruler is limited by the country's constitution and laws
PRECEDENT
a ruling in an earlier case that was similar
DISCOUNT RATE
the rate the Fed charges member banks for loans
SCARCITY
when we don't have enough resources to produce all of the things we would like to have
SUBSIDY
a government payment to an individual, business or other group for certain actions
ENVIRONMENTAL DISTRUCTION
coal burning factories, industries and motor vehicles, and acid rain are examples of things destroying the environment; we reduce pollution through conservation to help this issue
STANDARD OF LIVING
the quality of life based on the possession of necessities and luxuries that make life easier
SYMBOLS
things that represent things, like the eagle
LAW OF DEMAND
quantity demanded and price move in opposite directions
SUFFRAGE
the right to vote
INTERNATIONALISM
the idea that nations should cooperate to promote common aims, such as supporting economic development and fighting terrorism
GREAT COMPROMISE
Combines the Virginia and New Jersey Plan, creates 2 houses: the Senate which had 2 members for each state (New Jersey), and the House of Representatives which was based on the population of the state (Virginia)
SANCTIONS
measure such as withholding economic aid used to influence a foreign government's action
DIRECTION
Is public opinion on any given topic positive or negative?
WORKFARE
programs that require welfare recipients to exchange some of their labor in return for benefits
ROLE OF MEDIA
they regulate and protect the media
GLOBAL INTERDEPENDENCE
people and nations all over the world now depend upon one another for many goods and services
PRODUCT MARKETS
markets where producers offer goods and services for sale
DEMAND CURVE
a graph that shows the amount of a product that would be bought at all possible prices in the market
RESERVE REQUIREMENT
the fed can higher it or lower it for member banks so they leave more money with the Fed or give the banks more money to lend
PLAIN-FOLKS
candidate acting like a normal person to relate to us
INTENSITY
refers to the strength of opinion on a given issue
LIBEL
spreading lies that are PRINTED
POLLS
allows officeholders to keep in touch with citizens changing ideas about issues, officials don't have to wait until the next election to see if the people approve or disapprove of government policies
TRADE OFF
the alternative you face if you decide to do one thing rather than another
IMMIGRANTS
people who move permanently to a new country
SUBSTITUTES
competing products, called this because consumers can use one in place of the other
DIRECT DEMOCRACY
all the citizens met to debate government matters and vote first-hand
COURT OF JUSTICE
world court (ex. trading over seas)
EQUILIBRIUM PRICE
the points at which supply and demand achieve balance
LEGISLATIVE BRANCH
lawmakers
PATRIOTISM
love for one's country
TOWNSHEND ACTS
Tax on goods imported to the colonists
CITIZENSHIP
the rights and privileges of a citizen
CONSTITUTIONAL CONVENTION
the meeting in Philadelphia where they "revised" the Articles
CARD STACKING
when you show what you have done for a past issue, not an issue for the greater good
DISCRIMINATION
unfair treatment based on prejudice against a certain group
LABOR
the nations labor force or human resources
SPECIAL INTEREST GROUPS
an organization of people with some common interest who try to influence government decisions
UNITED NATIONS
Maintain peace; Develop friendly relations among nations; Promote justice and cooperation; Seek solutions to global problems
CONSTITUTION
written plan for government
PRICE FLOOR
a government minimum price that can be charged for goods and services, more common, and can prevent prices from dropping too low
ORIGINAL JURISDICTION
the authority to hear cases for the first time
AFFIRMATIVE ACTION
programs to try to make up for past discrimination
MONETARY POLICY
involves controlling the supply of money and the cost of borrowing money according to the needs of the community
BICAMERAL
the government is divided into two parts, or houses
PUBLIC POLICY
a course of government action to achieve community goals
NAME CALLING
tear the other candidate apart
VOLUNTARY EXCHANGE
the act of buyers and sellers freely and willingly engaging in market transactions
HOUSE OF COMMONS
Serve five-year terms; LAWMAKERS
DEMAND ELASTICITY
the extent to which a change in price causes a change in the quantity demanded
ACID RAIN
when coal-burning factories release sulfur dioxide gas into the air, and it mixes with water vapor, it falls to the earth
FACTOR MARKETS
the markets where productive resources are bought and sold
MULTINATIONALS
firms that do business or have offices or factories in many countries
COERCIVE ACTS
restricted colonies rights
3/5 COMPROMISE
every 5 slaves counts as 3 people when considering the population of a state
DEMAND ELASTIC
each change in price causes a relatively larger percentage change in quantity demand; reduce prices, sales increase - vice versa, when there are attractive substitutes, expensive items, if purchase can be postponed until later
CHECKS AND BALANCES
Each branch of government is able to check the powers of the other branches to make sure that one branch doesn't become too strong
FOMC
the most powerful committee of the Fed, because it makes the decisions that affect the economy as a whole by manipulating the money supply
SPEAKER OF THE HOUSE
Nancy Pelosi; calls Senate to order and keeps the meetings going
FCC
a way the government regulates broadcasting, cannot censor broadcast, can penalize stations that violate rules
GLOBALIZATION
individuals and nations working internationally across barriers of distance, culture, and technology
OPPORTUNITY COST
the cost of the next best use of your time or money when you choose to do one thing rather than another
AUTHORITARIAN
a government where one leader or group of people holds absolute power
PRICE CEILING
a government-set maximum price that can be charged for goods and services
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