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Name _______________________ Date _____________ Block _____ SOL Review Packet 2012-2013 Directions: Matching. Match each statement and/or question with the correct fundamental principle. Write the correct letter in the blank provided. a. Consent of the Governed d. Representative Government b. Democracy e. Rule of Law c. Limited Government __A__ 1. This states that the people are the source of any and all governmental power. __C__ 2. This says the government is not all powerful and may only do those things the people give it the power to do. __E__ 3. This says the people, the government and those who govern are bound by the law. __B__ 4. In this type of government the people rule and theoretically have equal power. __D__ 5. In this type of government the people elect public office holders to make laws and conduct government on their behalf. Directions: Match each statement and/or question with the correct document. Write the correct letter in the blank provided. a. Articles of Confederation e. VA Statutes of Religious Freedom b. VA Declaration of Rights f. Bill of Rights c. Declaration of Independence g. Charters of the Virginia Company d. US Constitution __G__ 1. This historical document guaranteed the colonists the same rights that were given to all English citizens.

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Page 1: Name _______________________ Date _____________ Block  · Web viewThis document guaranteed freedom of religious beliefs and opinions to the people of Virginia. __ F ... The Senate

Name _______________________ Date _____________ Block _____

SOL Review Packet 2012-2013

Directions: Matching. Match each statement and/or question with the correct fundamental principle. Write the correct letter in the blank provided.

a. Consent of the Governed d. Representative Governmentb. Democracy e. Rule of Lawc. Limited Government

__A__ 1. This states that the people are the source of any and all governmental power.

__C__ 2. This says the government is not all powerful and may only do those things the people give it the power to do.

__E__ 3. This says the people, the government and those who govern are bound by the law.

__B__ 4. In this type of government the people rule and theoretically have equal power.

__D__ 5. In this type of government the people elect public office holders to make laws and conduct government on their behalf.

Directions: Match each statement and/or question with the correct document. Write the correct letter in the blank provided.

a. Articles of Confederation e. VA Statutes of Religious Freedomb. VA Declaration of Rights f. Bill of Rightsc. Declaration of Independence g. Charters of the Virginia Companyd. US Constitution

__G__ 1. This historical document guaranteed the colonists the same rights that were given to all English citizens.

__B__ 2. This Virginia document served as a model for the Constitution’s Bill of Rights.

__C__ 3. Along with stating grievances against the king of England, this document suggested the idea that all people have certain unalienable rights of life, liberty, and the pursuit of happiness.

__A_ 4. Under this plan of government (the first plan in the US), the weakness of the central government included no power to tax, enforce the laws or maintain a common currency.

__E__ 5. This document guaranteed freedom of religious beliefs and opinions to the people of Virginia.

__F__ 6. This change to the Constitution established the right to religious freedom, assembly, to petition the government for change (in writing), free press and freedoms of speech.

__D__ 7. Our Founding Fathers added the Bill of Rights to this governing document.

Directions: Remember RAPPS? Name and describe/define the five rights protected in the first amendment.

R – Religion (right to worship whomever/whatever you please) A – Assembly (right to gather in groups)P – Petition (right to question the government)P – Press (government cannot interfere with the news)S – Speech (right to say what you want)

Directions: Matching. Match each statement and/or question as either a Civic Duty or Responsibility.A. Civic Duty B. Civic Responsibility

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__A__ 1. Obeying the laws is an example of a citizen’s __________.

__B__ 2. Registering to vote and voting is an example of a citizen’s __________.

__A__ 3. Serving in the armed forces when called is an example of a citizen’s __________.

__B__ 4. Serving in voluntary appointed positions in your local government is an example of a citizen’s

__________.

__B_ 5. Keeping informed about current issues and communicating concerns to governing bodies is an example of a citizen’s __________.

__A__ 6. Serving on a jury or acting as a witness in court when called are examples of a citizen’s

__________.

__A__ 7. Paying taxes is an example of a citizen’s __________.

__B__ 8. Holding elective office and participating in political campaigns are examples of __________.

__B_ 9. Participating in the school and/or local community and being an informed voter.

Directions: Fill in the blank with the number that completes the statement.1. Amendment _5__ prohibits the national government from acting in an unfair manner and denying due process under the law.2. Individuals are protected by the _14_ Amendment which prohibits state and local governments from acting in an unfair manner and denying due process under the law.3. Amendment _14__ defines citizenship as “all persons born or naturalized in the United States, and subject to the jurisdiction thereof, are citizens of the United States and the state wherein they reside”.4. Amendment _16_ gives Congress the authority to levy and collect an income tax.5. Amendment __5_ prohibited the national government from denying a citizen their due process rights.6. The amendment process is complex; to date, only _27_ amendments have been added to the Constitution.7. Amendment __14_ extended due process protection to actions done by states.

Directions: Matching. Match each statement and/or question with the correct political process key term/description. a. Functions of Political Parties f. Political Action Committee b. Wealthy g. Third Partyc. Campaign Finance Laws h. Platform d. “SIDE” i. Mediae. Political Center

__G__ 1. _______ parties introduce new ideas or press for a particular issue and sometimes influence the outcome of elections by dividing the votes between the two major party candidates. __F__ 2. Organizations dedicated to raising and spending money to either elect or defeat another political candidate.

__I__ 3. Introducing the public to the candidates, emphasizing certain issues, expressing opinions in editorials and political cartoons and broadcasting different points of view is the role of the __________ in political campaigns.

__A__ 4. Recruiting and nominating candidates, educating the electorate about campaign issues, helping candidates win elections and monitoring the actions of politicians are the main __________.

__E__ 5. The best way for any candidate to win an election is to reflect both liberal and conservative views and appeal to the __________.__F__ 6. Rising campaign costs encourages the development of __________ which have increased influence in a political campaign.__G__ 7. _____ parties rarely win elections, but they play an important role in the political system of the United States.__C__ 8. Out of control campaign costs have led to the reforms such as __________.

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__G__ 9. The Green, Libertarian, Progressive, Whig and Socialist are all examples of

__________.

__B__ 10. Running for political office is expensive, therefore, it gives an advantage to __________ candidates and limits the opportunities for less __________ candidates.

__D__ 11. The act of separating fact from opinion, identifying types of propaganda, detecting bias, and evaluating sources are strategies known by this acronym __________.

__H__ 12. The differences between political parties are stated in a party’s __________. Example: Senators Obama and McCain had different opinions on how to fix the nation’s economy.

Citizenship and VotingWhat are the two ways someone can become a citizen?

1. Birth2. Naturalization

How does someone become a citizen?Demonstrating knowledge of American history, government and English (written and spoken)

Who can vote in Virginia?1. US Citizens 3. 18 by election day2. VA residents

How can you register to vote?1. In person (registrar’s office) 3. Department of Motor Vehicles (DMV2. Mail in Application

What three factors predict who will vote?1. Age (older) 3. Education (more)2. Income (higher)

What are two reasons why people do not vote?1. Apathy (don’t care) 2. Fail to register in time

Registration is closed 22 days before elections.

The percentage of voters who participate in __PRESIDENTIAL__ elections is usually greater than the percentage of voters who participate in state and local elections. Every vote is important. Vote! It is how you give your consent to the government.

Influencing Government

Define the following key terms:1. mass media – a mechanism of mass _COMMUNICATION / INFO_, including __ TV, INTERNET,

radio, newspapers, _MAGAZINES_, recordings, __MOVIES__, and books.

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2. public agenda – _ISSUES__ considered important by __GOVERNMENT__ officials.

Ways the media plays an important role in setting the public agenda.

1. Focusing _PUBLIC__ attention on selected _ISSUES__.

2. Offering a _FORUM_ in which opposing __VIEW POINTS__ are communicated.

3. Holding government _OFFICIALS__ accountable to the _PUBLIC / PEOPLE__.

Directions: Define the following key term:1. public policy – THE COURSE OF ACTION THE GOVERNMENT TAKES IN RESPONSE TO AN ISSUE, NEED OR PROBLEM OF THE PEOPLE IT SERVES

Ways individuals influence public policy:

1. Participating in _POLITICS__ by __VOTING__ and campaigning.

2. Expressing _OPINIONS__ by lobbying, demonstrating, writing letters.

3. Joining special INTERESTS GROUPSWays interest groups influence public policy:1. Identifying the __ISSUES__.2. Making _POLITICAL__ contributions (money).3. Lobbying __GOVERNMENT__ officials.

A ___LOBBYIST__ is a representative of a special interest group who contacts lawmakers or other government officials directly to influence their policy making.

Voting and Elections

1. The President and Vice President of the United States are elected by the __ELECTORAL__ College. The electors are all supposed to vote how the majority of the popular (people) vote.

2. How many electoral votes are needed to win the Presidency? _270_

3. The WINNER – TAKE - ALL system leads to the targeting of large states for campaigning, although candidates must pay attention to small states whose electoral votes may make the difference in tight elections. This system favors a TWO PARTY political system.

The slate of electors for each state is chosen by popular vote. The electors meet to vote for President and Vice President. The number of electors for each state is based on the state’s __CONGRESSIONAL__representation.

Do the math.

_100_ Total number of Senators for all 50 states

_435_ Total number of House of Representatives for all 50 states

+ ___3_ Washington, D.C. = _538__ Total number of Electoral Votes

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1. Virginia has __2__ Senators.

2. Virginia has _11__ members of the House of Representatives.

3. Virginia has a total of _13_ electoral votes.

The Constitution of the United States establishes a federal form of government in which the national government is __SUPREME / MORE POWERFUL_. The Constitution is the _SUPREME__ law of the land.

Directions: Matching. Match each definition in Column A with the correct key word or words in Column B. Column A Column B

1.__EXPRESSED___These powers are specifically stated in the Constitution. implied powers

Example______________________________________________

Example______________________________________________

2.__IMPLIED__These powers are granted by the elastic clause and are reserved powersused to carry out expressed powers.

Example________________________________________________

3.__RESERVED__Powers not given to the national government are given to expressed powers

the state governments.

Example________________________________________________

Example________________________________________________

4.__CONCURRENT___Powers shared by the national and state governments concurrent

Example________________________________________________

Example________________________________________________

Primary Responsibilities of each level of government:National – conducts foreign policy, regulates commerceState – promotes public health, safety, and welfareLocal – varies from place to place, generally goes along with state functionsFederalism is a government system in which the power to govern is divided between the federal/national government, and the state governments. Federalism is one of the backbones of the United States Constitution. The other principles include popular sovereignty, rule of law, separation of powers, and checks and balances.

Directions: Creating a Venn Diagram. The Constitution gives certain powers to the state governments exclusively, the federal government exclusively, and some authority to both. The powers listed below fall into one of three categories. Fill in the blank to complete the Venn diagram.

KNOW ALL

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Federal Powers State Powers

Shared

B, F, H, M C, G, I, K, L

A, D, E, J, N, O

A. reserved powers H. power to make treaties with other countriesB. expressed powers I. power to enforce lawsC. concurrent powers J. power to make rules for marriage and divorceD. power to regulate trade within states K. power to collect taxesE. power to establish schools L. power to borrow moneyF. power to coin and print money M. declare warG. power to establish courts and prisons N. conduct elections

O. establish local governments

KNOW THIS CHART

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Directions: Compare the structures and powers of the state government to the national government in a federal system. Use the chart on the previous page to answer the following questions.

Federalism – a form of government in which power is divided between the federal, or national, government and the states.

1. The ___VA GENERAL ASSEMBLY___ makes laws for Virginia and approves the annual budget.

2. The ___CONGRESS___ makes laws for the nation and approves the annual budget.

3. The ___GOVERNOR____ executes law of Virginia, prepares the budget, and appoints cabinet officers.

4. The ____PRESIDENT___ executes laws for the nation, prepares the budget, and appoints cabinet officers, ambassadors, and federal judges.

5. The ___US SUPREME COURT__ has power of judicial review over federal laws.

6. The ___VA SUPREMEM COURT_ has power of judicial review over state laws.

7. The ___VA GENERAL ASSEMBLY _ reserves power under the 10th amendment.

The American constitutional system includes a notion known as the SEPARATION OF POWERS. In this system, there are three (3) branches of government and power is shared between the branches. At the same time, the powers of one branch can be challenged by another branch. This is known as the system of CHECKS AND BALANCES.

The Chief Executive of the United States is the President.

Virginia’s Chief Executive is the

__GOVERNOR – BOB MCDONNELL_.

The U.S. Congress makes

laws for the United States.

Virginia’s laws are made by the __VA GENERAL

ASSEMBLY__.

The highest court in the country is the United

States Supreme Court.

The highest court in Virginia is the _VA

SUPREME COURT_.

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US CONSTITUTION The Supreme Law of the Land

LEGISLATIVE BRANCHCONGRESSMakes the laws

EXECUTIVE BRANCH

Executes the laws

JUDICIAL BRANCH Interprets the laws

SENATE – UPPER HOUSE_______________

(1) House of Congress

US PRESIDENT_______________

Chief Executive

US SUPREME COURT_______________

Highest Court in the LandHOUSE OF REPRESENTATIVES

_______________(1) House of Congress

There are three (3) branches in the United States government as established by the Constitution of the United States of America. Identify the three (3) branches of government and the specifics requested in the diagram below.

Separation of Powers – the split of authority among the legislative, executive, and judicial branches.

Directions: True/False. Indicate whether the sentence or statement is true or false.FALSE 1. The United States Supreme Court makes the laws for our nation. LEGISLATIVE__TR__ 2. The executive branch of government is responsible for preparing our nation’s annual budget.

FALSE 3. The executive branch approves the annual budget of the United States. LEGISLATIVE BRANCHFALSE 4. The United States Congress has the power of judicial review. JUDICIAL BRANCE__TR__ 5. The legislative branch must approve presidential appointments.

FALSE 6. The President can veto a decision of the Supreme Court. THE SUPREME COURT HAS FINAL SAY__TR__ 7. The executive branch nominates/appoints Cabinet officers, ambassadors, federal judges, and Supreme Court justices but the nominations must be confirmed by the legislative branch.

__TR__ 8. The Congress can override the President’s veto.

FALSE 9. The legislative branch can declare presidential actions unconstitutional. JUDICIAL__TR__ 10. The Senate confirms presidential appointments to the courts.

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Directions: Matching. Match the Government Branch with the correct responsibility listed.

Legislative Branch = LExecutive Branch = EJudicial Branch = J

_EX_ 11. Executes the law of the land

_EX_ 12. Prepares the annual budget

_LEG_ 13. Approves presidential appointments

_JUD_ 14. Has the power of judicial review

_LEG_ 15. Approves the annual budget

_LEG_ 16. Makes laws for the nation

_JUD_ 17. Tries cases involving federal law

_EX_ 18. Appoints Cabinet officers, ambassadors, and federal judges

_JUD_ 19. Resolves questions about the Constitutionality of laws and governmental actions

_LEG_ 20. Administers the federal or state bureaucracy

List TWO Legislative powers over the Executive Branch.

1. Congress can ___OVERRIDE____ a president’s __VETO____

2. Congress can _IMPEACH____ the president and remove him/her from

office

List TWO Legislative powers over the Judicial Branch. 1. The Senate _APPROVES__ federal judges

2. Congress can __IMPEACH__ federal judges and remove them from office

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List TWO Executive powers over the Legislative Branch.

1. The president can __OVERRIDE__ congressional legislation

2. The president can call __CONGRSS_ into _SPECIAL SESSION_

List ONE Executive power over the Judicial Branch. 1. The president __APPOINTS__ federal judges

List ONE Judicial power over the Legislative Branch.

1. Declares laws _UNCONSTITUTION_

List ONE Judicial power over the Executive Branch.

1. Declares executive (presidential) acts _UNCONSTITUTIONAL__

The ConstitutionThe amendment process includes:

1. Action by Congress or Convention.2. Ratification by the 3/4th’s of the states.

The amendment process is difficult. To date, only __27__ total amendments have been added to the Constitution of the United States. The first 10 amendments are known as the __BILL OF RIGHTS_.

Congress1. The formal powers of Congress are limited by the __CONSTITUTION__ of the United States of America.

2. What is a bicameral legislature? HAVING 2 HOUSES OR 2 PARTS OF A LAW MAKING BODY3. What are the TWO bicameral legislatures in the United States and Virginia called?

Federal - US CONGRESS House 1 – US SENATE – UPPER HOUSE

House 2 – US HOUSE OF REPRESENTATIVES – LOWER HOUSE

Virginia – VA GENERAL ASSEMBLY

House 1 – VA SENATE

House 2 - HOUSE OF DELEGATES

Legislative Powers are either:

1. Specifically stated in the Constitution - EXPRESSED POWERS2. Used to carry out expressed powers – IMPLIED POWERS

The lawmaking process in national and state legislatures includes:

1. Working in committees including JOINT committees

2. DEBATING_ on the floor

3. VOTING_ on the bill by both houses

4. SIGNING_ the bill into law by the president or governor

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Elected officials write laws and take action in response to problems or issues.Individuals and interest groups help shape legislation (laws).

The President and the Executive BranchThe powers of the executive branch are defined in the Constitution of the United States of America (Article II) and in the Constitution of Virginia for the governor of Virginia.The executive branch at the state and national levels carries out the laws.

The Powers and Duties of the President

Chief Citizen

Chief Diplomat

Chief of State

Chief Legislator

Chief Executive

Chief of Party

Commander in Chief

Lists the ways the executive branch (national and state) influences policymaking:

1. Proposes __LEGISLATION___ in the State of the Union or the State of the Commonwealth Address.

2. Appeals directly to the __PUBLIC___.

3. Approves LEGISLATION or vetoes _LEGISLATION_.

4. Appoints officials who carry out the __LAWS__.

Cabinet departments, agencies, and regulatory groups interpret and help with carrying out laws.

The Judicial BranchThe Supreme Courts of the United States and Virginia can declare laws and acts of the executive branch of government unconstitutional. This power is called judicial review.

The case of Marbury vs. Madison (1803) established the principle of judicial review at the national level.

The Constitution of the United States of America is the SUPREME law of the land. State laws must conform to the Virginia and United States Constitutions.The Bill of Rights

On the lines to the right write down the 3 actions the President can take after Congress passes a bill

SIGN ITVETO ITPOCKET VETO – LET THE BILL DIE

KNOW THESE!

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Due Process of Law - the constitutional protection against unfair governmental actions and laws.Individuals are protected by the 5th Amendment which prohibits the national government from acting in an unfair manner and denying due process.

Individuals are protected by the 14th Amendment which prohibits state and local governments from acting in an unfair manner and denying due process.

The Supreme Court has extended the due process clauses to protect the guarantees of the Bill of Rights (Amendments 1-10).

Economic SystemsDirections: Matching. Match each statement and/or question with the correct key term. Write the correct letter in the blank provided. Answers may be used more than once.

a. opportunity cost h. profit o. The three basic economic questionsb. capital (resources) i. goodsc. human (resources) j. servicesd. natural (resources) k. demande. needs l. wantsf. check m. taxesg. savings n. income

d 1. Materials that come from nature that people use are natural resources.K 2. The amount of products and services that people really want to buy is known as consumer demands.M 3. Taxes are owed to the government to pay for services it provides.E 4. Things we must have to live (shelter, food, water, and clothing) are called needs.J 5. A doctor or a police officer provides a service or work that helps others by providing something they need or want.L 6. Things we do not need to survive (candy, TV, perfume) are called wants.I 7. Things for sale that people make or grow are called goods.A 8. Opportunity cost is the next best choice that is given when a decision is made.C 9. A truck driver is an example of a human resource because he/she works to produce goods and services.F 10. You are using a check when you write a note to the bank giving them permission to withdraw money from your account to pay for a good or service.N 11. Money you earn is your income.G 12. Money put away so you can spend it later is savings.B 13. Goods made to produce other goods and services are called capital resources. An example is a hammer or a bulldozer.H 14. The amount of money left after all the other costs of operating a business have been paid is called a profit.O 15. What will be produced, who will produce it, and for whom will it be produced are the three basic economic questions

What is Demand? The desire, willingness, and ability to buy a good or serviceWhat is Supply? The amount of a good or service that producers are willing and able to sell at various pricesDirections: Define the following key terms:

1. entrepreneur – individuals who start new businesses, introduce new ideas, and improve management techniques. A person who takes a risk to produce goods and services in search of a profit.

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2. sole proprietorship – a business owned and operated by a single person who takes all the risks and all the profits.

3. partnership – a business owned by two or more people who share the risks and the profits.

4. corporation – type of business owned by many people (stockholders) but treated by law as though it were a person. Stockholders share the profits.

Directions: Complete the following chart.

Characteristics of Businesses

Who provides? Who makes? Who receives? What is the liability?

Types of Businesses

Financing - Capital Business Decisions Profit

Liability

Sole Proprietorship The sole proprietor

The sole proprietor

The sole proprietor

Unlimited liability

Partnership The partners The partners The partners Unlimited liability

Corporation The stockholders

The managersand the Board of Directors

The stockholders

Limited to the amount of your investment (stock)

The American Economy

Directions: Use the diagram of the Circular Flow of Economic Activity to help you answer the following questions:

1. Individual and business saving and investing provide financial capital that can be borrowed for business expansion and increased consumption.

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2. Individuals (households) own the resources used in production, sell the resources, and use the income to purchase goods and services / products.

3. Businesses (producers) buy resources; make products that are sold to individuals, other businesses, and the government; and use the profits to buy more resources.

4. Governments use tax revenue (money) from individuals and businesses to provide public goods and services.

Money and Banking

Directions: Complete the diagram with the three (3) types of financial institutions.

Financial institutions encourage saving and investing by paying interest on deposits. Directions: Define the key terms.1. global economy – worldwide markets in which the buying and selling of goods and services by all nations takes place.

2. What are the kinds of economies? Command, mixed, free market and traditionalReasons that states and nations trade:

1. To obtain goods and services they cannot produce or produce efficiently themselves.2. To buy goods and services at a lower cost or a lower opportunity cost.

Types of Financial

Institutions

Commercialbanks

Savingsand Loan

Association

Credit Unions

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3. To sell goods and services to other countries.4. To create jobs.

Virginia and the United States specialize in the production of certain goods and services which promotes efficiency and growth.

Impact of Technology1. Innovations in technology (e.g. the Internet) contribute to the global flow of information, capital, goods, and services.2. The use of such technology also lowers the cost of production. Ways the government promotes marketplace competition.1. Enforcing antitrust legislation to discourage the development of monopolies.2. Engaging in global trade.3. Supporting new businesses and entrepreneurs.

Directions: The government plays several roles in the economy. Write the letter of each description in the appropriate circle.

A. Government works to meet this goal with antitrust laws E. These goods and services are B. Government ensures businesses act fairly and obey the laws difficult to get people to pay forC. Prevents mergers F. HighwaysD. Sherman Antitrust Act to break up G. FCC to license radio and TV stations the Standard Oil Company, which had a monopoly on oil H. Prevents air and water pollution Matching:

A. The Federal Trade Commission (FTC) B. The Environmental Protection Agency (EPA) C. The Federal Communications Commission (FCC)

Directions: Match the government agency to the type of case it would handle.C 1. TV and movie ratings

B 2. Air pollution

B 3. Ground water contamination

Roles of the Government

In the Economy

Public Goods and

ServicesF,E,

Ensure Competition

A, C, D

Federal RegulatoryAgenciesB, G, H, B

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A 4. Undue restrictions on markets

C 5. Labeling of music lyrics

1. Congress created the Environmental Protection Agency “EPA” to protect against air and water pollution.

2. One of the tasks of the Federal Trade Commission “FTC” is to guard against false advertising.

3. If a person is upset over the content in a radio talk show, he or she can complain to the Federal Communications Commission “FCC”.

PUBLIC GOODS AND SERVICES FROM THE GOVERNMENTCharacteristics of public goods and

servicesWays governments produce (pay for)

public goods and services

1. Include such items as interstate highways, postal service, schools, and national defense.

2. Provide benefits to many simultaneously

3. Would not be available if individuals had to provide them

How does the government pay for public services? Tax revenue

Amendment 16th gives Congress the authority to levy and collect an income tax on individual and business income.

The Government Taxes, Borrows and Spends to Influence Economic Activity

1. Government tax increases reduce the funds available for private and business spending; tax decreases increases the funds for private and business spending.

2. Increased government borrowing reduces funds available for borrowing by individuals and businesses; decreased government borrowing increases funds available for borrowing by individuals and businesses.

3. Increased government spending increases demand, which may increase employment and production; decreased spending reduces demand, which may result in a slowing of the economy.4. Increased government spending may result in higher taxes; decreased government spending may result in lower taxes.

5. The 16th Amendment to the Constitution of the United States of America authorizes Congress to tax incomes both (personal and business).

6. How does the government get funds for paying the National Guard in your community, repairing the roads after a difficult winter, or building a new post office? tax revenue (money) and borrowing

FISCAL POLICY CHART

Government Action á or â Reaction

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Taxesá

Funds/supply of money for spending by individuals and businesses

Taxesâ

Funds/supply of money for spending by individuals and businesses

Government Borrowing á

Funds/supply of money for borrowing by individuals and businesses

Government Borrowing â

Funds/supply of money for borrowing by individuals and businesses

Government Spending á

Demand, therefore, increases in production and employment

Government Spending â

Demand, therefore, slowing the economy

Government Spending á

Taxes

Government Spending â

Taxes

á = Increase

â = Decrease

*16th Amendment – authorizes Congress to levy and collect a tax on individual and business incomes

Fill in the Blank:1. The Federal Reserve System (FED) is the central bank of the United States. Federal Reserve banks act as a banker’s bank by issuing currency and regulating the amount of money in circulation.

2. Individuals have the right to private ownership, which is protected by negotiated contracts that are enforceable by law.

3. Government agencies establish guidelines that protect public health and safety.

4. Consumers may take legal action against violations of consumer rights.

5. Career planning starts with self - assessment.

6. Employers seek employees who demonstrate the attitudes and behaviors of a strong work ethic.

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7. Higher skills and/or education levels generally lead to higher incomes.

8. Supply and demand also influence job income.

9. Employers seek individuals who have kept pace with technological changes/skills.

10. Technological advancements create new jobs in the workplace.

ARE YOU FINALLY DONE?

Thank you for all of your hard work. It will pay off!

Review this packet for your Civics SOL!!!