AP GOVPOL VOCAB UP TO 336 + UNIT 1 VOCAB AP ECONOMICS

Scarcity

Unlimited wants but limited resources.

Macroeconomics

Study of the economy as a whole or economic aggregates.

Microeconomics

Study of small economic units such as individuals, firms, or markets.

Positive Statements

Based on facts, avoids value judgments (what is).

Normative Statements

Includes value judgments (what ought to be).

Marginal Analysis

Making decisions based on increments.

Trade-Off

All the alternatives that we give up when we make a choice.

Opportunity Cost

Most desirable alternative given up when you make a choice.

Utility

Satisfaction.

Marginal

Additional.

Allocate

Distribute.

Consumer Goods

Created for direct consumption.

Capital Goods

Goods used to make consumed goods.

Physical Capital

Human-made resource used to create other goods and services.

Human Capital

Skills or knowledge gained by a worker through education and experience.

Productivity

Measure of efficiency that shows the number of outputs per unit of input.

Constant Opportunity Cost

Resources easily adaptable for producing either goods, straight line PPC.

Law of Increasing Opportunity Cost

Producing more of one good increases the resource cost of the other good, bowed PPC.

Absolute Advantage

Producer that can produce the most output or requires the least amount of inputs.

Comparative Advantage

Producer with the lowest opportunity cost.

Terms of Trade

Agreed-upon conditions that would benefit both countries.

Demand

Different quantities of goods that consumers are willing and able to buy at different prices.

Law of Demand

Inverse relationship between price and quantity demanded.

Substitution Effect

If price goes up for a product, that product will be bought less and more of a similar product will be bought.

Income Effect

If the price goes down for a product, the purchasing power increases for consumers, allowing them to purchase more.

Law of Diminishing Marginal Utility

The more you consume anything, the additional satisfaction you receive will start to decrease.

Ceteris Paribus

All other things held constant.

Substitutes

Goods used in place of another one.

Complements

Two goods that are bought and used together.

Normal Goods

As income increases, demand increases, or as income falls, demand falls.

Inferior Goods

As income increases, demand falls, or as income falls, demand increases.

Supply

Different quantities of a good that sellers are willing and able to sell at different prices

Law of Supply

Direct relationship between price and quantity supplied, as price increases, quantity produced increases and as price falls, quantity produced falls

Subsidy

Payment a government makes to a business or market to increase supply.

Indeterminate

Ambiguous.

Price Ceiling

Maximum legal price a seller can charge for a product, shortage.

Price Floor

Minimum legal price a seller can sell a product, surplus.

Profit =

Revenue - Cost.

Per Unit Opportunity Cost =

Opportunity cost / Units gained.

Output (OOO) =

Other goes Over.

Input (IOU) =

Other goes Under

Exclusionary Rule

Evidence the government canes illegally and violating the fourth amendment can be excluded from trial

Gideon v. Wainwright

States must supply defense attorneys to indigent defendants

Griswold v. Connecticut

Privacy rights prevent state anti-birth control law

Mapp v. Ohio

States must follow the exclusionary rule

Metadata

Cell phone communication data minus the actual conversation

Miranda v. Arizona

States must inform the accused of their rights

New Jersey v. TLO

Students are entitled to a legitimate expectation of privacy but school officials do not have to have the same level of probable cause as police

Procedural due process

Address the manner in which laws are carried out and whether the law violates a basic right to life, liberty, or property

Public safety exception

Questioning to neutralize a dangerous situation and suspect voluntarily response, responses become evidence even if Miranda hasn't been read

Right to privacy

Protection of an individual's right to privacy and lifestyle

Roe v. Wade

States can't outlaw abortion in the first trimester and must adhere to the trimester standard established by the court due to a right of privacy

Search and seizure

Procedure used by the police to inspect or take property based on suspicion of a crime

Substantive due process

Address the essense of the law and whether the law violates a basic right to life, liberty, and property

Civil liberties

Personal freedoms protected from arbitrary governmental interference or deprivation

Clear and present danger test

Balancing act between competing demands of free expression and a government's need to protect a free society

Compelling governmental interest

a purpose important enough to justify the infringement of personal liberties

Due process

Ensures fair procedures where the government burdens or deprived an individual of life, liberty, and property without legal cause

Engle v. Vitale

School sponsored prayers in public schools is unconstitutional

Establishment clause

Prevented the federal government from establishing a national religion

Free exercise clause

prevents government from stopping religious practices

Libel

False statements in print that defame someone or hurt their reputation

McDonald v. Chicago

Protected the right to bear arms under the 14th amendment's due process clause and applies to federal, state, and local governments

New York Times v. United States

Defended free speech of press against prior restraint of the government

Obscene speech

Language and images offensive to the average citizen

Prior restraint

Right to stop spoken or printed expression in advance because it is either repugnant or offensive

Public interest

Freedom of speech could be restricted if the words were presented a clear and present danger to society

Schenck v. United States

Establish the limitations on Free speech may be warranted during wartime

Selective incorporation

States can't enact laws that take away constitutional rights

Symbolic speech

A defense used to defend an action that might otherwise be illegal

Tinker v. Des Moines Independent Schools

Protected students' rights to free speech as long as it wasn't disruptive to the educational process

Wall of separation

The distance in between church and state

Wisconsin v. Yoder

Protected freedom of speech and a parent's right to educate their children

Affirmative action

Efforts to diversify race or gender for federal jobs or schools

Brown v. Board of Education of Topeka, Kansas

Racial segregation of children in public schools was unconstitutional under the equal protection clause of the 14th amendment

Civil Rights Act of 1875

Privately owned places of public accommodations can't make distinctions between whites and blacks

Civil Rights Act of 1957

Established a civil rights commission and diverse in the Justice Department

Civil Rights Act of 1964

Ended segregation in public places and banned employment discrimination

Civil Rights Cases

Court ruled that the equal protection clause was meant to protect African-Americans against unfair state action

Defense of Marriage Act

Define marriage at the national level in declared states do not have to recognize same-sex marriages of other states

Don't ask, don't tell

Prevented the military about asking about private sexual status but also prevented gays and lesbians from acknowledging or revealing sexual status

Equal Pay Act

Requires employers to pay men and women the same wage for the same job

Equal Protection Clause

Prohibited state governments from denying person within their jurisdiction comparable preservation of the laws

Equal Rights Amendment

Equality of rights can't be denied on account of sex

Freedom-of-choice plans

Placed transfer a burden on black student seeking a move to a more modern white school

Heightened scrutiny test

2nd level of judicial review, challenged law must further an important government interest

Jim Crow Laws

Separated blacks and whites on trains, teachers, public restrooms, and public schools

Lawrence v. Texas

Laws targeting gays and lesbians are unconstitutional under the equal protection clause

Majority-minority district

A voting district where minorities make up the predominantly area

Obergefell v. Hodges

Required states under the 14th amendment to license and recognize same-sex marriage

Plessy v. Ferguson/ Separate but equal

Established separate but equal satisfied the 14th Amendment

Reasonableness standard

Allowing gender bias

Regents of the University of California v. Bakke

Upheld affirmative action allowing race to be a factor in college admissions

Strict scrutiny

Highest standard of judicial review, laws infringing fundamental rights must have a compelling state interest for the law and the law is necessary to protect an interest while being designed to be as narrow as possible

Swann v. Charlotte-Mecklenburg

Usage of mathematical ratios to achieve school integration between whites and blacks

Title IX

Colleges must make opportunities available for male and female students in substantially proportionate numbers based on full time undergraduates

White flight

Movement of white people from racially mixed neighborhoods to neighborhoods with little to no diversity

Appropriations

Sum of money devoted for a purpose

Authorization of spending

Agency can't spend public funds until a committee approves this

Civil Service Commission

Prevented officers from requiring federal employees to contribute to campaigns