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Define price stability in economic terms.

Price should not raise that quickly, so money keeps it value

Explain how price stability affects purchasing power.

Price stability affects purchasing power, if prices rise too fast (inflation) your money

buys less. If prices fall too much (deflation) businesses may struggle, leading to job

losses. Stable prices mean people can budget save and invest with confidence

What is purchasing power?

Value of money. If prices go up, your money buys less (weak PP) If prices stay stable,

money keeps it value. If prices go down, your money buys more (stronger PP)

Provide clear definitions for nominal GDP and real GDP

Gross Domestic Product: this is the total value of all goods and services a country

makes and sells in a certain time, like one year. It shows how well the economy is

doing.

Norminal GDP: This is the value of goods and services at today prices. It doesn’t adjust

for rising prices, so it can sometimes seen higher then it really is.

Real GDP: this adjust for inflation and shows the real value of what a country produces.

It helps compare how much the economy really grows over time

Plessy v. Ferguson

Supreme Court case that upheld the separate but equal doctrine.

Segregation

The enforced separation of different racial groups in a country, community, or establishment.

Equal Protection Clause

Part of the Fourteenth Amendment that prohibits states from denying any person equal protection under the law.

Desegregation

The process of eliminating segregation based on race.

Thurgood Marshall

First African American Supreme Court Justice who fought against segregation.

Racial Discrimination

Treating someone unfavorably because of their race.

Integration

Bringing different racial or ethnic groups into equal membership in society.