Government and Economics Comprehensive Review

This flashcard set covers the key vocabulary terms and categorical frameworks from the student's 10-page review packet, spanning government structure, economic laws, fiscal policy, and international affairs.

Amendment Proposal

Process requiring $\underline{\quad\quad} \, \%$ of Congress or a State convention to propose.

Amendment Approval

Process requiring $\underline{\quad\quad} \, \%$ of States or a State convention to approve.

Delegated Powers

A classification of power analyzed within the State Government Review.

Reserved Powers

A classification of power analyzed within the State Government Review.

Concurrent Powers

A classification of power analyzed within the State Government Review.

Full Faith and Credit Clause

A constitutional clause defined under the State Government Review.

Extradition

A process to be defined as part of the State Government Review section.

Judicial Branch (ND Specific)

State branch reviewed based on organization, most common term length, and specific qualifications or requirements.

Sovereign

A core term to define within the Local Government Review.

Town Government

A specific type of local government structure.

Township

A specific type of local government structure.

Special District

A specific type of local government structure.

Village/Borough Government

A specific type of local government structure.

Home Rule

A concept to be defined within the Local Government Review package.

Mayor-Council (weak mayor)

A type of city government reviewed by its definition, strengths, and weaknesses.

Mayor-Council (strong mayor)

A type of city government reviewed by its definition, strengths, and weaknesses.

Commission

A city government structure analyzed by its specific roles and strengths.

Council Manager

A city government structure analyzed by its specific roles and strengths.

Law of Supply

An economic law to be labeled on a graph with Price and Quantity of Goods.

Law of Demand

An economic law to be labeled on a graph with Price and Quantity of Goods.

Equilibrium

The point to be identified on a graph where the Law of Supply and Law of Demand meet.

Surplus

A market condition to be defined as part of the Introduction to Economics.

Shortage

A market condition to be defined as part of the Introduction to Economics.

Stocks

An investment category to be defined along with its benefits and downsides.

Bonds

An investment category to be defined along with its benefits and downsides.

Mutual Funds

An investment category to be defined along with its benefits and downsides.

Macroeconomics

A field of study with three specific primary goals.

GDP

A macroeconomic measure; stands for Gross Domestic Product.

GDP Per Capita

A macroeconomic term to be defined in relation to population size.

Real GDP

A measure of economic output adjusted for inflation.

Consumer Price Index

An economic indicator used in Macroeconomics Review.

Inflation

An economic term defined within the Macroeconomics Review section.

Business Cycle

A cycle identified as containing four distinct parts.

Progressive Tax

A type of federal funding tax to be defined.

Proportional Tax

A type of federal funding tax to be defined.

Regressive Tax

A type of federal funding tax to be defined.

Continuing Resolution

A term related to the federal budget process.

Government Shut Down

A result of budgetary proceedings in federal funding.

Mandatory Spending

A specific category of federal government spending.

Discretionary Spending

A specific category of federal government spending.

Supplemental Spending

A specific category of federal government spending.

U.S. Debt Ownership

Ownership structured into intergovernmental and public sections.

Expansionary Policies

Fiscal policies that involve raising or lowering taxes and government spending to affect Money Supply/GDP.

Contractionary Policies

Fiscal policies that involve raising or lowering taxes and government spending to affect Money Supply/GDP.

Reserve Requirements

A tool used to raise or lower the Money Supply/GDP.

Interest on Excess Reserves

A tool used to raise or lower the Money Supply/GDP.

Discount Rate

A tool used to raise or lower the Money Supply/GDP.

Open Market Operations

A method used to raise or lower the Money Supply/GDP.

Absolute Advantage

A term to define under the Foreign Affairs Review section.

Comparative Advantage

A term to define under the Foreign Affairs Review section.

Opportunity Cost

An economic concept to define within Foreign Affairs.

Trade Surplus

An international trade term to define under Foreign Affairs.

Trade Deficit

An international trade term to define under Foreign Affairs.

UN Security Council

One of the specific roles/bodies to review within the United Nations.

International Court of Justice

One of the specific roles/bodies to review within the United Nations.

Globalism

A topic defined by its advantages, disadvantages, and government encouragement methods.

Protectionism

A topic defined by its advantages, disadvantages, and government encouragement methods.