FSOTFlashcards Reverse.txt

Card Set Information

FSOTFlashcards Reverse.txt
2013-02-22 10:30:00

Show Answers:

  1. Designation of the person being quoted. Also, the source information in a story
  2. Bottom section of a story written ahead of an event that will occur too close to deadline for the entire story to be processed
    B copy
  3. Name of the reporter who wrote the story, placed atop the published article.
  4. Reporting that ignores or treats lightly negative news about friends of a reporter.
    crony journalism
  5. Name of the city or town and sometimes the date at the start of a story that is not of local origin.
  6. Story, often initiated by a reporter, that digs deeper than the usual news story.
    enterprise copy
  7. Story a reporter has obtained to the exclusion of the competition
  8. Describes material offered the reporter in confidence. If the reporter accepts the material with this understanding, it cannot be used except as general background in a later story.
  9. To write a story so as to influence the reader’s thinking
  10. Abbreviation for paragraph
  11. Term for written publicity or special-interest news sent to a newspaper for publication
  12. Material that cannot be used until it is released by the source or at a designated time.
    HFR or Hold For Release
  13. First paragraph of a news story
  14. To emphasize the names of persons from the local community who are involved in events outside the city or region.
  15. Designation on copy for “lead to come”
  16. Synonym for press associations, the Associated Press and United Press International
    wire services
  17. A database that contains current and past news stories.
  18. Providing regular opportunities for employees to provide supervisors with status updates is what kind of communication?
  19. Delivering copies of job descriptions to all employees, regularly scheduled staff meetings where management shares goals and achievements, and employee performance reviews conducted annually or more frequently are all examples of what type of communication?
  20. What style of writing has the most important points and details presented first. Additional details follow, in order of lessening importance. it provides readers with understanding even if they stop reading before learning all the details.This allows readers to get the main idea quickly, but does not require complete reading to understand.
    Inverted pyramid style
  21. type of press release is intended for the online audience. Skillful writers can include keywords that produce high rankings on search engines, optimizing readers reached.
    optimized press release
  22. When an audience is receiving a message they go through four stages: awareness, comprehension, conviction, and commitment. Which of these stages involves the audience matching their own interests and views with the information being offered?
  23. making decisions or forming opinions based on a message.
  24. When communicating face-to-face, resting a chin on a hand or crossing legs is seen as:
  25. When conducting negotiations, a key component is considering each stage of the interactions. Negotiations should never begin with:
    A Concession
  26. recorded comments by those involved for use on air. These recorded statements would be from principals in the event. Recorded or live commentary is especially important to a news medium with no visual aspect.
  27. If your organization is hosting a charitable fundraising event and wants to increase attendance and participation, you might partner with local media to produce:
    An Advance Story
  28. refers to vocal characteristics such as pitch, speed, volume, and sounds such as sighing and throat clearing that can send non-verbal messages to your audience.
  29. This style is often used when material is very precise, or unfamiliar, or when someone else has prepared the speech. This style is often used by politicians and organization spokespersons.
    Manuscript Delivery
  30. Presentation style used to present employees with the different factors involved, allowing them to slowly gain understanding of the situation that has triggered the bad news, rather than dropping a bomb on them. Good for use for lay-offs.
    Deduction Style
  31. focuses mainly on the feelings, lifestyles, values, and beliefs that people hold or follow.
  32. joins two similar statements changing only the words that you want to emphasize. Our country's government cannot continue to help people who want to hurt our country.
  33. These actions are wrong, they are unacceptable, and they are criminal! is an example statement of:
  34. Commitment to this cause is like marriage; you have to stick with it in good times and bad. is an example statement of:
  35. You are preparing to give a speech at a convention that will last about 25 minutes. Your primary objective is to appear informed and for your audience to know that a great deal of planning went into your remarks. Which delivery style best accommodates this goal?
    Manuscript Delivery
  36. Delivery styles that allow for less planning.
    Impromptu and extemporaneous
  37. implies limitations on use, usually in regards to a timeframe for publication. This is sometimes agreed to by the media in return for exclusivity.
  38. the process a recipient goes through to understand the message.
  39. This is the simplest yardstick of economic performance. If one person, firm or country can produce more of something with the same amount of effort and resources, they have this over other producers. Being the best at something does not mean that doing that thing is the best way to use your scarce economic resources.
    Absolute Advantage
  40. A theory of how people form their views about the future that assumes they do so using past trends and the errors in their own earlier predictions. Contrast with rational expectations.
    Adaptive Expectations
  41. When you do business with people you would be better off avoiding. Giving insurance to 55 year old smokers
    Adverse Selection
  42. These can arise when somebody (the principal) hires somebody else (the agent) to carry out a task and the interests of the agent conflict with the interests of the principal. An example of such principal-agent problems comes from the relationship between the shareholders who own a public company and the managers who run it.
    Agency Costs
  43. people behave selfishly or act in his or her self-interest.
  44. The running down or payment of a loan by instalments. An example is a repayment mortgage on a house, which is amortised by making monthly payments that over a pre-agreed period of time cover the value of the loan plus interest.
  45. The colourful name that keynes gave to one of the essential ingredients of economic prosperity: confidence. He meant this in the sense that, for entrepreneurs in particular, "the thought of ultimate loss which often overtakes pioneers, as experience undoubtedly tells us and them, is put aside as a healthy man puts aside the expectation of death".
    Animal Spirits
  46. Government policy for dealing with monopoly. Laws aimed to stop abuses of market power by big companies and, sometimes, to prevent corporate mergers and acquisitions that would create or strengthen a monopolist. Sherman Antitrust Act of 1890.
  47. Buying an asset in one market and simultaneously selling an identical asset in another market at a higher price.
  48. theory that says the price of a financial asset reflects a few key risk factors, such as the expected rate of interest, and how the price of the asset changes relative to the price of a portfolio of assets. If the price of an asset happens to diverge from what the theory says it should be, buying from investors in another market should bring it back into line.
    Arbitrage pricing theory
  49. When somebody knows more than somebody else. A government selling broadcasting licences does not know what buyers are prepared to pay for them; a lender does not know how likely a borrower is to repay; a used-car seller knows more about the quality of the car being sold than do potential buyers.
    Asymmetric Information
  50. When something unexpected happens that affects one economy (or part of an economy) more than the rest.
    Asymmetric shock
  51. Freidrich Hayek & Joseph Schumpeter. neo-classical economics established in Vienna during the late 19th century and the first half of the 20th century. It was strongly opposed to Marxism and, more broadly, to the use of economic theories to justify government intervention in the economy.
    Austrian Economics
  52. The idea that a country should be self-sufficient and not take part in international trade. Has never worked in a country yet.
  53. When a commodity is valued more highly in a spot market (that is, when it is for delivery today) more than in a futures market (for delivery at some point in the future).
    • Balance of payments The total of all the money coming into a country from abroad less all of the money going out of the country during the same period.
    • Backwardation
  54. An attempt to reduce the number of bank failure's by tying a bank's capital adequacy ratio to the riskiness of the loans it makes. For instance, there is less chance of a loan to a government going bad than a loan to, say, an internet business, so the bank should not have to hold as much capital in reserve against the first loan as against the second. The first attempt to do this worldwide was by the Basel committee for international banking supervision in 1988.
    Basel 1 and 2
  55. One one-hundreth of a percentage point. Small movements in the interest rate, the exchange rate and bond yields are often described in terms of basis points. If a bond yield moves from 5.25% to 5.45%, it has risen by 20 basis points.
    Basis Point
  56. An investor who thinks that the price of a particular security or class of securities is going to fall; the opposite of a bull.
  57. A branch of economics the concentrates on explaining the economic decisions people make in practice, especially when these conflict with what conventional economic theory predicts they will do.
    Behavioural Economics
  58. Frederick Herzberg - Achievement, Recognition, Work Itself, Responsibility, Promotion, Growth
    Motivator Factors
  59. Frederick Herzberg - Pay and Benefits, Company Policy and Administration, Relationships with co-workers, Supervision
    Hygiene Factors
  60. Functional psychology = emphasis on action and application. Wrote about in Relex Arc article. Progressive Education = learn by doing. First psychologist honored w/ 30 cent postage stamp. Member of NAACP, directed Dewey Commission in Mexico 1937 which cleared Leon Trosky of Stalin's charges, marched for women's rights.
    John Dewey
  61. a philosophical tradition centered on the linking of practice and theory. It describes a process where theory is extracted from practice, and applied back to practice to form what is called intelligent practice. Charles Peirce 1870s and John Dewey.
  62. In this style of leadership, a leader has complete command and hold over their employees/team. The team cannot put forward their views even if they are best for the team’s or organizational interests. They cannot criticize or question the leader’s way of getting things done. The leader himself gets the things done. The advantage of this style is that it leads to speedy decision-making and greater productivity under leader’s supervision. Drawbacks of this leadership style are that it leads to greater employee absenteeism and turnover. This leadership style works only when the leader is the best in performing or when the job is monotonous, unskilled and routine in nature or where the project is short-term and risky.
    Autocratic Leadership Style
  63. Here, the leader totally trusts their employees/team to perform the job themselves. He just concentrates on the intellectual/rational aspect of his work and does not focus on the management aspect of his work. The team/employees are welcomed to share their views and provide suggestions which are best for organizational interests. This leadership style works only when the employees are skilled, loyal, experienced and intellectual.
    Laissez Faire Leadership Style
  64. The leaders invite and encourage the team members to play an important role in decision-making process, though the ultimate decision-making power rests with the leader. The leader guides the employees on what to perform and how to perform, while the employees communicate to the leader their experience and the suggestions if any. The advantages of this leadership style are that it leads to satisfied, motivated and more skilled employees. It leads to an optimistic work environment and also encourages creativity. This leadership style has the only drawback that it is time-consuming.
    Democrative/Participative Leadership Style
  65. Here the leaders strictly adhere to the organizational rules and policies. Also, they make sure that the employees/team also strictly follows the rules and procedures. Promotions take place on the basis of employees’ ability to adhere to organizational rules. This leadership style gradually develops over time. This leadership style is more suitable when safe work conditions and quality are required. But this leadership style discourages creativity and does not make employees self-contented.
    Bureaucratic Leadership
  66. type of autocratic leader that makes decisions unilaterally and closely supervises subordinates
    Directive Autocrat
  67. type of autocratic leader that makes decisions unilaterally, but gives subordinates latitude in carrying out their works.
    Permissive Autocrat
  68. "A more paternalistic form is also essentially dictatorial. However, decisions take into account the best interests of the employees as well as the business. Communication is again generally downward, but feedback to the management is encouraged to maintain morale. This style can be highly advantageous when it engenders loyalty from the employees, leading to a lower labor turnover, thanks to the emphasis on social needs. On the other hand for an autocratic management style the lack of worker motivation can be typical if no loyal connection is established between the manager and the people who are managed. It shares disadvantages with an autocratic style, such as employees becoming dependent on the leader.
    • A good example of this would be David Brent or Michael Scott running the fictional business in the television show The Office."
    • Consultative Management
  69. they maintain control over the entire decision making process. The most prominent difference here is that the persuasive manager will spend more time working with their subordinates in order to try to convince them of the benefits of the decision that have been made. A persuasive manager is more aware of their employees, but it wouldn't be correct to say that the persuasive style of management is more inclusive of employees.
    Persuasive Management
  70. A very modern style of management, gives the employees total control over the decision making process. Some modern companies have adopted this style of management and in return have become some of the most influential and innovative such as Google.
    Chaotic Management
  71. a classic technique used by managers who are proactive listeners. Managers using this style gather as much information as possible so that a challenging situation doesn't turn into a bigger problem. Listening carefully to employees' suggestions and concerns will help evade potential crises.
    Management by Walking Around (MBWA)
  72. An autocratic style means that the manager makes decisions unilaterally, and without much regard for subordinates. As a result, decisions will reflect the opinions and personality of the manager; this in turn can project an image of a confident, well managed business. On the other hand, strong and competent subordinates may chafe because of limits on decision-making freedom, the organization will get limited initiatives from those "on the front lines", and turnover among the best subordinates will be higher.
    Paternalistic Management
  73. decisions take into account the best interests of the employees as well as the business, often more so than interests of the individual manager. Communication is downward. Feedback and questioning. authority are absent as respect to superiors and group harmony are central characteristics within the culture. This style demands loyalty from the employees, often more than to societies' rules in general. Staff turnover is discouraged and rare. Worker motivation is the status quo with East Asians often having the world's highest numbers of hours worked per week, due to a sense of family duty with the manager being the father, and staff being obedient children, all striving for harmony, and other related Confucian characteristics. Most aspects of work are done with a highly collectivist orientation. It shares disadvantages with an autocratic style, such as employees becoming dependent on the leader, and related issues with seniority based systems. Managers must appear confident, with all answers, and promote growth with harmony, often even if hiding harmful or sad news is required.
    Asian Paternalistic
  74. proposed to balance the "regular" (non-emergency) federal budget by cutting the salaries of government employees and cutting pensions to veterans by fifteen percent. It saved $500 million per year.
    Economy Act 1933
  75. FDR strenuously opposed the Bonus Bill that would give World War I veterans a cash bonus. Finally, Congress passed it over his veto in 1936, and the Treasury distributed $1.5 billion in cash as bonus welfare benefits to 4 million veterans
    Bonus Act
  76. "The only thing we have to fear is fear itself". Fireside chats on the radio. WWII. New Deal - Social Security, WPA, etc., repealed prohibition w/ 21st amendment. Food Stamps 1939 (abolished in 1943, but brought back again in 1961). Served in office for more than 12 years.
    Franklin Roosevelt
  77. limited commercial bank securities activities and affiliations between commercial banks and securities firms to regulate speculations. It also established the Federal Deposit Insurance Corporation (FDIC), which insured deposits for up to $2,500, ending the risk of runs on banks.
    Glass-Steagall Act
  78. established in 1934 to regulate the stock market and prevent corporate abuses relating to the sale of securities and corporate reporting.
    U.S. Securities and Exchange Commission
  79. a major program of public works, which organized and provided funds for the building of useful works such as government buildings, airports, hospitals, schools, roads, bridges, and dams. Also hired artists, musicians, painters, and writers with a group of projects called Federal One. Also assisted theatre
    Public Works Administration 1933 - (PWA),
  80. brought together leaders in each industry to design specific sets of codes for that industry; the most important provisions were anti-deflationary floors below which no company would lower prices or wages, and agreements on maintaining employment and production. Later introduced minimum wage and 8 hour work day. In 1935, NRA deemed unconstitutional by unanimous vote in Supreme Court. (kinda cartel-ish)
    National Recovery Administration (NRA)
  81. created national standards for home construction. Part of New Deal.
    Federal Housing Administration (FDA)
  82. set uniform national appraisal methods and simplified the mortgage process. Part of New Deal
    Home Owner’s Loan Corporation (HOLC)
  83. drafted by Francis Perkins (first female cabinet member). It established a permanent system of universal retirement pensions, unemployment insurance, and welfare benefits for the handicapped and needy children in families without father present.
    Social Security Act
  84. 1935, also known as the Wagner Act, finally guaranteed workers the rights to collective bargaining through unions of their own choice. The Act also established the National Labor Relations Board (NLRB) to facilitate wage agreements and to suppress the repeated labor disturbances. The Wagner Act totally did not compel employers to reach agreement with their employees. But it opened possibilities for American labor. The result was a tremendous growth of membership in the labor unions, especially in the mass-production sector.
    National Labor Relations Act
  85. set maximum hours (44 per week) and minimum wages (25 cents per hour) for most categories of workers. Child labor of children under the age of 16 was forbidden, children under 18 years were forbidden to work in hazardous employment. As a result the wages of 300,000 people were increased and the hours of 1.3 million were reduced.
    Fair Labor Standards Act of 1938
  86. provided 16 million returning veterans with benefits such as housing, educational, and unemployment assistance, and played a major role in the postwar expansion of the American middle class.
    G.I. Bill or Servicemen's Readjustment Act of 1944
  87. Argued that by spending vastly more money—using fiscal policy—the government could provide the needed stimulus through the multiplier effect. Without that stimulus business simply would not hire more people, especially the low skilled and supposedly "untrainable" men who had been unemployed for years and lost any job skill they once had. Keynes visited the White House in 1934 to urge President FDR to increase deficit spending.
    Keynesian Economics
  88. an underemployment equilibrium where skeptic business prospect prevent companies from hiring new employees - John Maynard Keynes.
    Cyclical Unemployment
  89. State Sponsors of Terrorism designation applied by US Dept. of State to countries which have repeatedly provided support for acts of international terrorism. Inclusion on the list imposes strict sanctions. Began in 1979 with:
    Libya (removed 2006), Iraq (removed 1982, relisted in 1990 following Kuwait invasion, removed again 2004 after overthrow of Saddam Hussein), South Yemen (removed 1990 after merging with Yemen Arab Republic), and Syria. 1988 - North Korea (removed 2008)1982 - Cuba, 1984 - Iran, 1993 - Sudan
  90. Imposed on State Sponsors of Terrorism by US. Includes ban on arms-related export and sales, prohibitions on economic assistance, opposition to World Bank loans, denying companies tax credits for income earned in terrorist countries, lifting diplomatic immunity for civil suits, prohibit US citizen from engaging in financial transactions with country.
  91. Canada, France, Germany, Italy, Japan, Russia, UK, USA - governments of the world's eight largest economies, emerged after the 1973 oil crisis. Was G6 until Canada and Russia added in 1975. European Union is represented, but cannot host chair summits. G8+5, Outreach Five or Plus Five - Brazil, China, India, Mexico, South Africa. discuss issues of mutual or global concern. The range of topics include health, law enforcement, labor, economic and social development, energy, environment, foreign affairs, justice and interior, terrorism, and trade. International database on pedophiles and terrorists. France was first G6 President. US-2012, UK-2013, Russia-2014, Presidency rotates among all member countries.
    G8 or Group of 8
  92. 1918-1992 (with an Italian border adjustment after WWII) - King Alexander I assassinated in Marselle. Nationalist Croatians and Bosniaks encouraged by Nazis to commit genocide on the Serbs. President Tito banned Nationalism, relative peace followed. He had presidency for life and died in 1980. 1989 - borrowed from IMF - bankrupt companies, high unemployment, unpaid wages. Communist country and everyone hated other ethnicities (Serbs, Croats, Slovs, etc.) Somehow stayed independent of NATO and Iron Curtain. 1991 - Slovenia and Croatia declared independence. War broke out. Yugoslav People's Army was mostly Serbian - numerous cases of destruction to lives and property. 1991 - Macedonia peacefully declared independence. UN soldiers oversaw.
  93. Bamboo curtain in China, Ice Curtain in the Bering Sea (btwn Russia and Alaska) and the cactus curtain of Cuba are all analogues of...
    Iron Curtain
  94. USA 1940's and 1950's. A fusion of the music genre popular for the era; gospel, folk, blues, country & western, and jazz.
    Rock and Roll
  95. Began as slave chants and heavily influences rock and jazz. Tends to cover hardship, lost love, poverty, etc.
  96. Originated in early 1900's (possibly Chicago). Was known as very seedy, but moved into limelight in 1930's with swing.
  97. 1920's. Similar in content to blues as it tends to cover hardship, lost love, poverty, etc.
    Country and Western
  98. 1950's - Influence from Country and Western. Elvis Presley
  99. No real origin. Oral history keeping. Becomes popular is times of hardship.
  100. 1980's. Roots in British Punk. Spread through college radio in America.
  101. 1960's. UK. Rebellion against Rock and Roll.
    Punk Rock
  102. 1960's Jamaica. Influenced by African and Rhythm and Blues. Bob Marley. Issues of poverty, politics, love, and the shortfalls of society in general.
  103. Music developed in 1960's. Lots of guitar. I hate it.
    Heavy Metal
  104. New York City, Bronx, 1970s primarily with African Americans and Latino Americans.
    Hip Hop
  105. is the concept of organizational change in which the managers and governing body of an organization put into place and manage a program which measures the current level of performance of the organization and then generates ideas for modifying organizational behavior and infrastructure which are put into place to achieve higher output. The primary goals of organizational improvement are to increase organizational effectiveness and efficiency to improve the ability of the organization to deliver goods and or services. A third area sometimes targeted for improvement is organizational efficacy, which involves the process of setting organizational goals and objectives.
    Performance Improvement
  106. 1973 - Part of Arab-Israeli war that had been going on since 1948. Egypyt and Syria (backed by USSR) invaded Israel (backed by US) on the holy day Yom Kippur. In the end, Israel gave Egypt back the Sinai Peninsula that had been lost in the Six Days War (1967). Operation Badr (full moon) Syria(attacked in the Golan Heights) and Egypt (attacked at the Suez Canal) attacked Israel at the same time. Jordan joined the war (to assist Syria) when Syria started losing ground. Syria ignored Geneva convention. Tortured and killed prisoners. Egypt killed Israeli's who surrendered. Algeria, Libya, and Cuba assisted Syria and Egypt with weapons and troops. US assistance to Israel led to Saudi Arabia declaring an oil embargo to US. OPEC reduced production. Led to 1973 energy crisis.
    Yom Kippur War - or October War or Ramadan War
  107. Led to Egypt becoming very unpopular, ejection from the Arab League until 1989, and the Libyan-Egyptian War, and assassination of Egypt's leader, Sadat.
    Peace treaty between Israel and Egypt
  108. Founded in 1945 after WWII to replace the League of Nations. Currently has 193 member States. to maintain international peace and promote cooperation in solving international economic, social and humanitarian problems. The United Nations' system is based on five principal organs (formerly six – the Trusteeship Council suspended operations in 1994, upon the independence of Palau, the last remaining UN trustee territory);[10] the General Assembly, the Security Council, the Economic and Social Council (ECOSOC), the Secretariat, and the International Court of Justice.
    United Nations
  109. may resolve non-compulsory recommendations to states, or suggestions to the UNSC (not a Parliament), decides on the admission of new members, on proposal of the UNSC, adopts the budget, elects the non-permanent members of the UNSC, all members of ECOSOC, on the proposal of the UNSC the UN Secretary General, and the 15 judges of the ICJ
    UN General Assembly
  110. supports the other UN bodies administratively, e.g. in the organization of conferences, writing reports and studies, and the preparation of the budget-plan, its chairman - the UN Secretary General - is elected by the UN General Assembly for a five-year mandate and is the most important representative of the UN, beside its headquarters in New York City it has three main offices in Geneva, Nairobi and Vienna
    UN Secretariat
  111. Based in The Hague, Netherlands, decides disputes between states that recognize its jurisdiction and creates legal opinions, the 15 judges are elected by the UN General Assembly for nine years. It renders judgement with relative majority, parties on the ICJ can only be countries, however no international organizations and other subjects of international law (not to be confused with the ICC)
    International Court of Justice
  112. responsible for the maintenance of international peace and security, the most powerful organ of the UN, as it may adopt compulsory resolutions, its decisions include peacekeeping- and peace enforcement-missions, as well as non-military pressure mediums, such as trade embargos, has 15 members: five permanent members with veto power, and ten elected members, responsible for cooperation between states on economic and social fields (raising the general standard of living, solve economic, social and health problems, promotion of human rights, culture and education, as well as humanitarian aid), therefore it has established numerous functional and regional commissions, also coordinates the cooperation with the numerous specialized agencies of the United Nations, has 54 members, who are elected by the UN General Assembly to serve staggered three-year mandates, was originally designed to manage colonial possessions that were earlier League of Nations mandates, is inactive since 1994, with the last trust territory (Namibia) attaining independence in 1990
    UN Security Council
  113. commanding officers embezzled funds earmarked for soldier's food. 50,000-90,000 soldiers starved to death while marching. US used racially integrated units for the first time in Korean War.
    National Defense Corps Incident
  114. Began in 1950. Japan lost in WWII and used to have control of Korean Peninsula. Russia got control of North Korea, US of South. US supplied 88% of troops. 20 other countries joined UN in assistance. China aided North Korea. Ended in 1953 w/ the creation of the DMZ (demilitarized zone). Truman called it "police action" b/c assisting UN. Congress approved spending. "The Forgotten War or Unknown War" b/c of little attention given. General MacArthur - US Commander for war, replaced by General Ridgway. Mass executions on both sides. North Koreans executed anyone educated in South before US re-conquered Seoul. South Koreans executed any leftists or Communists.
    Korean War
  115. a for-profit catalyst for white flight and a means to control non-white migration. By subterfuge, real estate agents would facilitate black people's buying a house in a white neighborhood; either buying the house themselves, or via a white proxy buyer, and then re-selling it to the black family. The remaining white inhabitants (alarmed by real estate agents and the local newsmedia),[23] fearing devalued residential property, would quickly sell, usually at a loss. Losses happened when they sold en masse, but sales agents made good commissions anyway. They could sell the properties to the incoming black families, profiting from price arbitrage and the sales commissions from both the black and white victims of such schemes. By such tactics, the racial composition of a neighborhood population often changed completely in a few years.
  116. the sociological process whereby a city, or part of a city, falls into disrepair and decrepitude. Its characteristics are depopulation, economic restructuring, abandoned buildings, high local unemployment, fragmented families, political disenfranchisement, crime, and a desolate, inhospitable city landscape. White flight contributed to the draining of cities' tax bases when middle-class people left.
    Urban Decay
  117. journalists who exposed waste, corruption, and scandal through journalism.
  118. 16th-19th amendments. 17th - Senators must be elected. New food and drug laws to guarantee safety. Presidents Theodore Roosevelt and Woodrow Wilson. Interstate Commerce Commission and Federal Trade Commission created. Food and Drug Administration. Federal Reserve System. Henry Ford with the assembly line.
    Progressive Movement 1890's-1920's
  119. prevented large firms from controlling a single industry (1890)
    Sherman Anti-trust Act
  120. judge of Denver who developed juvenile courts to avoid sending disruptive teenagers to adult prisons during the progressive era.
    Ben Lindsey
  121. Created Soviet Russia. Ended Russian Provisional Government, Russian Republic, and dual power. Began the Russian Civil War (1917-1923). Occurred in Petrograd (now St. Petersburg). Led by Vladmir Lenin. Very little fighting. Two deaths.
    October Revolution or Bolshevik Revolution
  122. viewed themselves as representing an alliance of workers and peasants and memorialized that understanding with the Hammer and Sickle on the flag and coat of arms of the Soviet Union.
    The Bolsheviks
  123. the mind is a blank slate. We are born without innate ideas, and the knowledge is instead determined only by experience derived from sense perception. The foundation of our future selves is made from experiences when we are young. - John Locke.
    Tabula Rasa
  124. South Africa 1948-1994. The government segregated education, medical care, beaches, and other public services, and provided black people with services inferior to those of white people.
  125. the total tax paid divided by the total amount the tax is paid on. (0.05*50,000) + (0.10*50,000) + (0.15*75,000) = 18,750. The "effective rate" would be 10.7%:
    Effective Tax Rate
  126. the rate paid on the next dollar of income earned. 18,750/175,000 = 0.107. The "marginal rate" would be 15%
    Marginal Tax Rate
  127. The collection of a tax in order to spend it on a specified purpose, for example collecting a tax on alcohol to pay directly for alcoholism rehabilitation centres
  128. a progressive tax system where people earning below a certain amount receive supplemental pay from the government instead of paying taxes to the government.
    Negative Income Tax (NIT)
  129. generally gain on sale of capital assets, i.e., those assets not held for sale in the ordinary course of business. include personal assets in many jurisdictions. Some jurisdictions provide preferential rates of tax or only partial taxation for capital gains. Some jurisdictions impose different rates or levels of capital gains taxation based on the length of time the asset was held.
    Capital Gains Tax
  130. ad valorem tax levy on the value of property that the owner of the property is required to pay to a government in which the property is situated. Also known as property tax.
    Millage Tax
  131. a tax on individuals who renounce their citizenship or residence. The tax is often imposed based on a deemed disposition of all the individual's property. One example is the United States under the American Jobs Creation Act, where any individual who has a net worth of $2 million or an average income-tax liability of $127,000 who renounces his or her citizenship and leaves the country is automatically assumed to have done so for tax avoidance reasons and is subject to a higher tax rate.
    Expatriation Tax
  132. Some countries' governments will require declaration of the tax payers' balance sheet (assets and liabilities), and from that exact a tax on net worth (assets minus liabilities), as a percentage of the net worth, or a percentage of the net worth exceeding a certain level. The tax may be levied on "natural" or legal "persons". An example is France's ISF.
    Wealth (net worth) Tax
  133. applies the equivalent of a sales tax to every operation that creates value. Government makes money at all stages. Supplier, distributor, retailer.
    Value Added Tax, Goods and Services Tax, Single Business Tax, Turnover Tax
  134. Two states with no income or sales tax
    New Hampshire & Alaska
  135. based on the quantity, not the value, of product purchased. For example, in the United States, the Federal government imposes a tax of 18.4 cents per U.S. gallon (4.86¢/L) of gasoline, while state governments levy an additional 8 to 28 cents per U.S. gallon. Are also used to modify consumption patterns. a high tax is used to discourage alcohol consumption. This may be combined with hypothecation if the proceeds are then used to pay for the costs of treating illness caused by alcohol abuse.
    Excise Tax
  136. fee/tax that may be imposed on businesses or individuals engaged in certain businesses. Many jurisdictions impose a tax on vehicles.
    License Fees or Occupational taxes
  137. tax where the tax base is the value of a good, service, or property. Sales taxes, tariffs, property taxes, inheritance taxes, and value added taxes are different types of _______________.
    Ad Valorem
  138. refers to any tax on non-investment spending, and can be implemented by means of a sales tax, consumer value added tax, or by modifying an income tax to allow for unlimited deductions for investment or savings.
    Consumptions Tax
  139. a tax imposed so that the effective tax rate increases as the amount to which the rate is applied increases.
    Progressive Tax
  140. tax where the effective tax rate decreases as the amount to which the rate is applied increases. Opposite of progressive.
    Regressive Tax
  141. tax where the effective tax rate is fixed, while the amount to which the rate is applied increases.
    Proportional Tax
  142. a tax that is a fixed amount, no matter the change in circumstance of the taxed entity. This in actuality is a regressive tax as those with lower income must use higher percentage of their income than those with higher income and therefore the effect of the tax reduces as a function of income.
    Lump sum tax
  143. the tax on the creation of money.
  144. which is paid in lieu of military service; strictly speaking, it is a commutation of a non-tax obligation rather than a tax as such but functioning as a tax in practice.
  145. a tax on feudal dependents.
  146. a type of tax or due that was paid by a vassal to his lord during feudal times.
    Feudal aids
  147. a tax-like payment (one tenth of one's earnings or agricultural produce), paid to the Church
  148. a medieval land tax originally raised to pay off raiding Danes and later used to fund military expenditures.
  149. the principle of assigning the responsibility for tax revenue collection to private citizens or groups.
    Tax Farming
  150. a tax can increase economic efficiency in some cases. If there is a negative externality associated with a good, meaning that it has negative effects not felt by the consumer, then a free market will trade too much of that good. By taxing the good, the government can increase overall welfare as well as raising revenue. Examples-taxes on polluting fuels, on goods which incur public healthcare costs (alcohol or tobacco). Named after economist Arthur Pigou.
    Pigovian Taxes
  151. the more details of tax policy there are, the more opportunities for legal tax avoidance and illegal tax evasion. These not only result in lost revenue, but involve additional costs; for instance, payments made for tax advice are essentially dead weight costs because they add no wealth to the economy. These also occur because of non-taxable 'hidden' transactions; for instance, a sale from one company to another might be liable for sales tax, but if the same goods were shipped from one branch of a corporation to another, no tax would be payable.
    Perverse Incentives
  152. a theoretical representation of the relationship between government revenue raised by taxation and all possible rates of taxation. Used to illustrate taxable income elasticity. No revenue will be generated at 0% and 100% taxation. No income at 100% b/c at such a rate there is no longer any incentive for a rational taxpayer to earn any income, thus the revenue raised will be 100% of nothing. It follows from the extreme value theorem that there must exist at least one rate in between where tax revenue would be a maximum.
    Laffer Curve
  153. that taxable income will change in response to changes in the rate of taxation.
    Taxable income elasticity
  154. the branch of economics that considers how taxes can be structured to give the least deadweight costs, or to give the best outcomes in terms of social welfare.
    Optimal taxation theory
  155. Law that restricts the activities of power of labor unions. Became law after overcoming Truman's veto. Labor leaders called it the 'slave-labor bill'. Truman argued it was an intrusion of free speech. It amended the National Labor Relations Act. A means of demobilizing the labor movement by imposing limits on labor's ability to strike and by prohibiting radicals from their leadership. Prohibited jurisdictional strikes, wildcat strikes, solidarity or political strikes, secondary boycotts, secondary and mass picketing, closed shops, and monetary donations by unions to federal political campaigns. Prohibits federal employees from striking. Leaders had to sign affidavits that they were not Communists (deemed unconstitutional in '65).
    Taft-Hartley Act or (Labor-Management Relations Act) 1947.
  156. contractual agreements that required an employer to hire only labor union members. No longer permitted after Taft-Hartley Act.
    Closed shops
  157. still permitted, require new recruits to join the union within a certain amount of time, but only as part of a collective bargaining agreement and only if the contract allows the worker at least 30 days after the date of hire or the effective date of the contract to join the union.
    Union Shops
  158. prevents unions from negotiating contracts or legally binding documents requiring companies to fire workers who refuse to join the union.
    Right to work Laws
  159. Coolidge - included the National Origins Act and Asian Exclusion Act. The purpose of the act was "to preserve the ideal of American homogeneity". Limited the annual number of immigrants who could be admitted from any country to 2% of the number of people from that country who were already living in the US in 1890, down from 3% cap set by the Immigration Restriction Act of 1921. Specifically racist against Jewish and Asian immigration.
    Immigration Act of 1924 or Johnson-Reed Act
  160. Series of newspaper editorials written under the pseudonym 'Publius', by John Jay, James Madison, and Alexander Hamilton. Designed to persuade the people of NY to support the ratification of the Constitution. Taken together, the Federalist and Anti-Federalist Papers provide a fascinating overview of the pros and cons of the Constitution.
    Federalist Papers
  161. Abraham Lincoln fought in. Americans swindled Sauk indians out of land, when the indians re-entered the land by crossing the Mississippi into Illinois with women, elderly, and children; the US attacked. Indians were known as the British Band b/c they had fought in the war of 1812. Indian raids on settlers led to militiamen hunting them down. The encounter was, in the words of historian Patrick Jung, "less of a battle and more of a massacre" by the militiamen. The Black Hawk War demonstrated to American officials the need for mounted troops to fight a mounted foe. During the war, the U.S. Army did not have cavalry; the only mounted soldiers were part-time volunteers.
    Black Hawk War of 1832
  162. Armed conflict btwn US and United Mexican States from 1846-1848, begun with the annexation of Texas in 1845, which Mexico considered theirs. US ended up buying Alta California and New Mexico for $15 million (less than half what was offered before the war). President Polk and Manifest Destiny. Texas became the 28th state on December 29, 1845. The war was a partisan issue and an essential element in the origins of the American Civil War (Whigs in the North and South opposed it, believing it was an attempt to expand slavery). Democrats supported, wanting to add another slave owning state. During the war, inventions such as the telegraph created new means of communication that updated people with the latest news from the reporters, who were usually on the scene. This was the first time in American history that accounts by journalists, instead of opinions of politicians, caused great influence in shaping people’s minds and attitudes toward a war. First amphibious landing in US history at Siege of Veracruz. Most deadly war in American history with 35-40% dying of injuries and disease.
    Mexican-American War
  163. small purchase of land from Mexico by US in 1853
    Gadsen Purchase
  164. Cause for War
    Casus Bell
  165. presented to the House of Representatives in 1847 by Abraham Lincoln. Requested President Polk provide Congress with the exact 'spot' upon which blood was spilt on American soil. Polk had claimed it was to get Congress to go to was in 1846.
    Spot Resolutions
  166. refers to politics or diplomacy based primarily on power and on practical and material factors and considerations, rather than ideological notions or moralistic or ethical premises. Sometimes used pejoratively to imply politics that are coercive, amoral. Examples: Nixon's diplomacy with the People's Republic of China, despite the U.S.'s opposition to communism and the previous doctrine of containment. Kissinger's use of shuttle diplomacy after the 1973 Arab-Israeli war, where he persuaded the Israelis to withdraw partially from the Sinai in deference to the political realities created by the oil crisis.
  167. In the capital asset pricing model, it measures the sensitivity of the price of a particular asset to changes in the market as a whole. If a company’s shares have a beta of 0.8 it implies that on average the share price will change by 0.8% if there is a 1% change in the market.
  168. Paying a maid in cash is an example of this. Transactions that don’t show up for GDP, making the country much richer than the official data suggest.
    Black Economy
  169. A formula for pricing financial options. Its invention allowed a previously undreamed of precision in the pricing of options
  170. A theory of human decision making that assumes that people behave rationally, but only within the limits of the information available to them.
    Bounded Rationality
  171. An investor who expects the price of a particular security to rise, the opposite of a bear.
  172. When a company launches a product or service that eats into their existing business. Not always a bad thing. Helps keep ahead of the competition with new products.
  173. The amount a company or an economy can produce using its current equipment, workers, capital and other resources at full tilt.
  174. Money or assets put to economic use.
  175. The ratio of a bank’s capital to its total assets, required by regulators to be above a minimum level so that there is little risk of the bank going bust.
    Capital Adequacy ratio
  176. government imposed restrictions on the ability of capital to move in or out of a country. i.e. limits on foreign investment in a country’s financial markets
    Capital Controls
  177. The composition of a company’s mixture of debt and equity financing.
    Capital Structure
  178. An agreement among two or more firms in the same industry to co-operate in fixing prices and/or carving up the market and restricting the amount of output they produce. It is particularly common when there is an oligopoly. The aim of such collusion is to increase profit by reducing competition.
  179. Guardian of the monetary system and works separately from the government. Sets short-term interest rates an oversees the health of the financial system, including by acting as lender of last resort to commercial banks that get into financial difficulties. i.e. Federal Reserve in US, European Central Bank in EU, Bank of England in UK
    World Bank
  180. A fervently free-market economic philosophy long associated with a certain university. Went against Keynesian economics with low inflation and market liberalisation. Swept the world in 80s and 90s.
    Chicago School
  181. An economy that does not take part in international trade. North Korea
    Closed Economy
  182. A comparatively homogeneous product that can typically be bought in bulk. It usually refers to a raw material - oil, cotton, cocoa, silver - but can also describe a manufactured product used to make other things, for example, microchips used in personal computers.
  183. Paul Samuelson. Free trade. Theory that shows how countries gain from trading with each other even if one of them is more efficient. It is about identifying which activities a country (or firm or individual) is most efficient doing.
    Comparative Advantage
  184. If a deposit account of $100 earns an interest rate of 10% a year, then at the end of the year the account will contain $110. If all of that money is left in the account, then the 10% interest will be paid on the $110, so at the end of the second year $11 of interest will be added, making $121 in all. This is known as
    Compound Interest
  185. A market in which an inefficient firm, or one earning excess profits, is likely to be driven out by a more efficient or less profitable rival.
    Contestable Market
  186. When banks suddenly stop lending, or bond market liquidity evaporates, usually because creditors have become extremely risk averse.
    Credit Crunch
  187. An approach to business based on looking after yourself by looking out for your own. At least until the crisis of the late 1990s, some Asian companies, and even governments, were notable for awarding contracts only to family and friends. This was often a form of corruption, resulting in economic inefficiency.
    Crony capitalism
  188. A means by which some countries try to defend their currency from speculative attack by committing itself to converting its domestic currency on demand at a fixed exchange rate and holding reserves of foreign currency equal at the fixed rate of exchange to at least 100% of the value of the domestic currency that is issued.
    Currency Board
  189. When a government announces that the exchange rate of its currency is fixed against another currency or currencies.
    Currency Peg
  190. A Peruvian economist who advocates establishing formal property rights for the poor to help them rapidly escape from poverty. Argues that, in developing countries, capitalism will thrive in the long run only if legal systems change so that most of the people feel that the law is on their side. Books-The Other Path and The Mystery of Capital
    Hernando De Soto
  191. a persistent fall in the general price level of goods and services. Sometimes harmless, but runaway deflation is dangerous. The expectation that prices will be lower tomorrow may encourage consumers to delay purchases, depressing demand and forcing firms to cut prices even more.
  192. A graph showing the relationship btwn the price of a good and the amount of demand for it at different prices.
    Demand Curve
  193. Financial assets that ‘derive’ their value from other assets.
  194. A sudden fall in the value of a currency against other currencies. Refers only to sharp falls in a currency within a fixed exchange rate system.
  195. theory of how to promote economic development in poor countries, saying they needed a different way to start than developed nations took. Didn’t work and most are following in developed nations footprints for economic growth.
    Development Economics
  196. The more you have, the smaller is the extra benefit you get from having even more; also known as diseconomies of scale
    Diminishing Returns
  197. Taxes levied on the income or wealth of an individual or company.
    Direct Taxation
  198. The rate of interest charged by a Central Bank when lending to other financial institutions.
    Discount Rate
  199. How much less is a sum of money due in the future worth today? The answer is found by discounting the future cashflow, using an interest rate that reflects the fact that money in the future is worth less than money now, b/c money now could be invested and earn interest, whereas future money cannot. Firms use it to judge whether an investment project is worthwhile.
    Discounted Cash Flow
  200. When supply and demand in a market are not in balance.
  201. A fall in the rate of inflation. This means a slower increase in prices but not a fall in prices.
  202. Cutting out the middleman
  203. The part of a company’s profit distributed to shareholders.
  204. When a country’s own money is replaced as its citizens’ preferred currency by the US dollar.
  205. Selling something for less than the cost of producing it.
  206. A firm with the ability to set prices in its market.
    Dominant firm
  207. Mathematics and sophisticated computing applied to economics.
  208. The economist’s model of human behaviour.
    Economic Man
  209. As output increases, the average cost of each unit produced falls.
    Economies of Scale
  210. Wages set at above the market clearing rate so as to encourage workers to increase their productivity
    Efficiency Wages
  211. A measure of the responsiveness of variable to changes in another. Four main types-Price, Income, Goods, Complementary Goods
  212. People generally spend a smaller share of their budget on food as their income rises. Law made by Russian in 1857.
    Engel’s Law
  213. When supply and demand are in balance. At the equilibrium price, the quantity that buyers are willing to buy exactly matches the quantity that sellers are willing to sell. So everybody is satisfied.
  214. Fairness. Dividing up the economic pie.
  215. The capital of a firm, after deducting any liabilities to outsiders other than shareholders
  216. The reward investors get for buying a risky share over the safer option of a government bond.
    Equity Risk Premium
  217. Outside the model
  218. The capital gain plus income that investors think they will earn by making an investment, at the time they invest.
    Expected Returns
  219. A tax on what people spend rather than what they earn or their wealth.
    Expenditure Tax
  220. An economic side-effect. Costs or benefits arising from an economic activity that affect somebody other than the people engaged in the economic activity and are not reflected fully in prices.
  221. Certificate of ownership of a financial asset, such as a bond or a share.
    Financial Instrument
  222. the tendency of revenue from taxation to rise as a share of GDP in the growing economy. Works as an automatic stabilizer, as it acts naturally to keep demand stable and avoid inflation.
    Fiscal Drag
  223. Production costs that do not change when the quantity of output produced changes, for instance, the cost of renting an office or factory space. Opposite of variable costs
    Fixed Costs
  224. Going public. When shares in a company are sold to the public for the first time through an initial public offering.
  225. That part of the jobless total caused by people simply changing jobs and taking their time about it, b/c they are spending time on job search or are taking a break before starting with a new employer.
    Frictional Unemployment
  226. Adding the total value of a country’s annual output of goods and services. i.e. private consumption + investment + public spending + the change in inventories + (exports-imports) =
  227. A good for which demand increases as its price rises. But such goods may not exist in the real world. Named after Robert Giffen 1837-1910
    Giffen Goods
  228. Meaning a safe bet, at least as far as receiving interest and avoiding default. Usually only applied to government bonds.
    Gilts (gilt-edged securities)
  229. An inequality indicator. Measures the inequality of income distribution within a country. It varies from zero, which indicates perfect equality, with every household earning exactly the same, to one, which implies absolute inequality, with a single household earning a country's entire income. Latin America is the world's most unequal region, with a this of around 0.5; in rich countries the figure is closer to 0.3.
    Gini Coefficient
  230. A buzz word that refers to the trend for people, firms and governments around the world to become increasingly dependent on and integrated with each other. This can be a source of tremendous opportunity, as new markets, workers, business partners, goods and services and jobs become available, but also of competitive threat, which may undermine economic activities that were viable before
  231. Measure of the country’s economic performance. Calculated by adding the gdp, the income earned by residents from investments abroad, less the corresponding income sent home by foreigners who are living in the country.
    GNP - Gross National Product
  232. A monetary system in which a country backs its currency with a reserve of gold, and allows currency holders to exchange their notes and coins for gold. Not used anymore.
    Gold Standard
  233. A former jazz musician turned economist, became chairman of the board of governors of America’s Federal Reserve in 1987, shortly before Wall Street crashed. Delivered monetary policy that helped to bring down inflation and create conditions for strong economic growth.
    Alan Greenspan
  234. Bad money drives good money out. observed that when a currency has been debased and a new one is introduced to replace it, the new one will be hoarded and effectively taken out of circulation, while the old one will continue to be used for transactions, to be got rid of as fast as possible.
    Greshham’s Law
  235. Nobel Prize Winner for his theory of the Business Cycle, Part of the Chicago School with Milton Friedman. Promoted Capitalism and the Invisible Hand. Was initially set aside for Keynesian Economics. Reagan and Thatcher used his theories in the 80’s.
    Friedrich Hayek
  236. Reducing your risks. Involves deliberately taking on a new RISK that offsets an existing one, such as your exposure to an adverse change in an EXCHANGE RATE, INTEREST RATE or COMMODITY PRICE. Most often done by commodity producers and traders, financial institutions and, increasingly, by ­non-financial FIRMS.
  237. You are British and you are to be paid $1m in three months' time. You are worried that the dollar may have fallen in value by then, thus reducing the number of pounds you will be able to convert the $1m into. You can ________ away that currency risk by buying $1m of pounds at the current exchange rate (in effect) in the futures market.
  238. A warning signal of possible monopoly. A way to gauge the competitiveness of an industry by measuring the extent to which its output is concentrated among a few firms. To calculate it, take the market share of each firm in the industry, square it, then add them all up. If there are 100 equal-sized firms (a market with close to perfect competition) the index is 100. If there are four equal-sized firms (possible oligopoly) it will be 2,500. Monopoly is 10,000.
    Herfindahl-Hirschman Index
  239. One way to keep taxation fair. Means that people with a similar ability to pay taxes should pay the same amount.
    Horizontal Equity
  240. Merging with another firm just like yours, for example, two biscuit makers becoming one. Often raises antitrust concerns.
    Horizontal Integration
  241. The stuff that enables people to earn a living. Can be increased by investing in education, training, and health care.
    Human Capital
  242. The ‘good life’ guide. Calculated since 1990 by the United Nations Development Programme in terms of such things as education, length of life, income, and clean water. Has fallen in 54 countries, but most have significantly risen.
    Human Development Index
  243. a 100% or more increases in prices a year. After WWI, German prices were rising at 23,000% per year before the country’s economy collapsed.
  244. Earmarking taxes for a specific purpose.
  245. A change in the demand for a good or service caused by a change in the income of consumers.
    Income Effect
  246. Taxes that do not come straight out of a person’s pay or assets or out of company profit. An example is value-added tax. Has become increasingly popular with politicians because it may be less noticeable to people paying it than income tax and is harder to avoid paying.
    Indirect taxation
  247. When the supply or demand for something is insensitive to changes in another variable such as price.
  248. Less bang for your buck. Rising prices on everything.
  249. Valuable things, even though you cannot drop them on your foot - an idea protected by a patent, human capital, a popular brand.
    Intangible Assets
  250. Exports and imports of things you cannot touch or see. Services, such as banking or advertising and other intangibles, such as copyrights.
    Invisible Trade
  251. The shape of the trend of a country’s trade balance following a devaluation. A lower exchange rate initially means cheaper exports and more expensive imports, making a bigger deficit or smaller surplus. After a while though, the volume of exports will start to rise b/c of their lower price to foreign buyers and domestic consumers will buy fewer of the costlier imports. The trade balance will improve.
  252. Products or production processes that have more than one use. Cows can be milked and later eaten.
    Joint supply
  253. Helped invent Macroeconomics. Promoted government spending and nationalization to correct economies after WWII.
    John Maynard Keynes
  254. Buying a company using borrowed money to pay most of the purchase price. The debt is secured against the assets of the company being acquired. The interest will be paid out of the company’s future cashflow. Became popular in US in 1980s. Possibly tackles the problem of agency costs by the need to meet demanding interest bills drove the new managers to run the firm more efficiently than their predecessors.
    Leveraged Buy-out
  255. the rate of interest that top-quality banks charge each other for loans. A floating rate that changes all the time.
    LIBOR (London Interbank Offered Rate)
  256. How easily an asset can be spent. Cash is liquid.
  257. A tax that is the same amount for everybody, regardless of income or wealth.
    Lump sum tax
  258. policy used to maximize growth and keep down inflation and unemployment. Main instruments are changes in the rate of interest and money supply (monetary policy), and changes in taxation and public spending (fiscal policy).
    Macroeconomic policy
  259. The big picture, analyzing economy-wide phenomena such as growth, inflation, and unemployment.
  260. The study of individual pieces that together make an economy. i.e. the behavior of individual markets, workers, households, and firms.
  261. The difference made by one extra unit of something.
  262. Most successful program of international aid and nation building in history. Named after secretary of state who proposed aid to Western Europe after WWII.
    Marshall Plan
  263. Economist who developed some of the most important concepts in microeconomics. Demand curve, price elasticity, consumer surplus
    Alfred Marshall
  264. When two companies with nothing in common, merge.
  265. The sum of a country’s inflation and unemployment rates.
    Misery index
  266. theory based on simple idea that diversification can produce the same total returns for less risk. Not putting your eggs in one basket. Harry Markowitz
    Modern Portfolio Theory
  267. Went against Keynesian policies. The belief that inflation has its roots in the government printing too much money.
  268. Changes in the money supply have no effect on the real economic variables such as output, real interest rates and unemployment. If the central bank doubles the money supply, the price will double too.
    Monetary Neutrality
  269. When people are misled by inflation into thinking that they are getting richer, when in fact the value of money is declining. Keynes
    Money Illusion
  270. A market dominated by a single buyer. This buyer has the market power to set the price of whatever it is buying.
  271. People with insurance may take greater risks than they would do without it b/c they know they are protected, so the insurer may get more claims than it bargained for.
    Moral Hazard
  272. If country A grants country B the status of most-favoured nation, it means that B's EXPORTS will face TARIFF that are no higher (and also no lower) than those applied to any other country that A calls a most-favoured nation. This will be the most favourable tariff treatment available to IMPORTS.
    Most Favored Nation
  273. the way in which a change in spending produces an even larger change in income.
  274. The non-accelerating-inflation rate of unemployment
  275. Game theory that occurs when each player is pursuing their best possible strategy in the full knowledge of the strategies of other players. Once, this is reached, nobody has any incentive to change their strategy.
    Nash Equilibrium
  276. When a government takes ownership of a private-sector business. Was fashionable in mixed economy btwn 1945 and 1980
  277. When a monopoly occurs b/c it is more efficient for one firm to serve an entire market than for two or more firms to do so. Example is water distribution, b/c the main cost is laying a network of pipes to deliver water.
    Natural Monopoly
  278. Measure used to help decide whether to proceed with an investment. Add together all the expected benefits, now and in the future. Then add together all the expected costs. Work out worth by adjusting future cashflow using an appropriate discount rate. Then subtract the costs from the benefits.
    Net Present Value
  279. When the value of a good to a consumer changes b/c the number of people using it changes. Using a phone becomes more valuable as more people are plugged into the telephone network.
    Network Effect
  280. Non-government organization
  281. The value of anything expressed simply in the money of the day. Nominal figures can be misleading to compare values of different goods b/c of inflation, better to compare their real value.
    Nominal Value
  282. Economics that tries to change the world, by suggesting policies for increasing economic welfare. The opposite of positive economics.
    Normative economics
  283. A description of what happens to unemployment when the rate of growth of gdp changes.
    Okun’s Law
  284. An economy that allows the unrestricted flow of people, capital, goods and services across its borders.
    Open Economy
  285. Central banks buying and selling securities in the open market, as a way of controlling interest rates or the growth of the money supply. By selling more securities, they can mop up surplus money; buying securities adds to the money supply.
    Open-market operations
  286. How far an economy’s current output is below what it would be at full capacity. On average, inflation rises when output is above potential and falls when output is below potential.
    Output Gap
  287. Investing abroad
    Outward Investment
  288. A situation which nobody can be made better off without making somebody else worse off.
    Pareto Efficiency
  289. The name given to the arrangements through which countries reschedule their official debt (money borrowed from other governments rather than banks or private firms).
    Paris Club
  290. to charge above average prices when demand peaks in order to divert some peak demand to cheaper off-peak periods. Reduces capacity needed at peak, and reduce amount lying idle at off-peak.
    Peak Pricing
  291. Over their lives, people try to spread their spending more evenly than their income. A person’s spending decisions are guided by what they think over their lifetime will be their average income. Milton Friedman.
    Permanent Income Hypothesis
  292. The lower the unemployment rate, the higher was the rate of inflation. Worked in 50s and 60s. Now NAIRU is preferred.
    Phillips Curve
  293. A fall in the price level increases real value of people’s savings, making them feel wealthier and thus causing them to spend more.
    Pigou Effect
  294. bought b/c of what they say about the person who buys them. Way for a person to establish or signal their status relative to people who do not own them - fast cars, holidays in resorts, designer clothes.
    Positional Goods
  295. Economics that describes the world as it is, rather than change it. Opposite of Normative economics.
    Positive Economics
  296. Charging low prices now (to beat out competition) so you can charge much higher prices later
    Predatory Pricing
  297. In equilibrium, what balances supply and demand
  298. When a firm charges different customers different prices for the same product.
    Price Discrimination
  299. A measure of the responsiveness of demand to a change in price. If demand changes by more than the price has changed, the good is price-elastic. If demand changes by less than the price, it is price-inelastic.
    Price elasticity
  300. The process by which markets set prices.
    Price Mechanism
  301. When a firm’s shares are held privately and not traded in the public markets.
    Private Equity
  302. Selling state-owned business to private investors.
  303. A firm’s profit expressed as a percentage of its turnover or sales.
    Profit Margin
  304. Taxation that takes a larger proportion of a taxpayer’s income the higher the income is.
    Progressive Taxation
  305. Part of behavioural economics. Assumes that people are more motivated by losses than by gains and as a result will devote more energy to avoiding loss than to achieving gain.
    Prospect Theory
  306. Opposition to free trade. Intended to protect a country’s economy through quotas and tariffs, but usually hinders.
  307. A method for calculating the correct value of a currency. Says that goods and services should cost the same in all countries when measured in a common currency. The exchange rate that equates the price of a basket of identical goods and services in two countries.
    Purchasing Power Parity
  308. Theory that says the quantity of money available in an economy determines the value of money. Increases in the money supply are the main cause of inflation. Built on the Fischer Equation. Stock of Money x Velocity of Circulation=Price x Transactions
    Quantity Theory of Money
  309. Limits on the number of goods that can be imported from another country.
  310. Freedom of religion, speech, press, assemble
    1st Amendment
  311. Right to bear arms
    2nd Amendment
  312. Prohibits the forced quartering of soldiers out of war time.
    3rd Amendment
  313. Prohibits unreasonable search and seizures. Search warrants and probable cause
    4th Amendment
  314. Right to due process. Prohibits self-incrimination and double jeopardy. Eminent domain and just compensation.
    5th Amendment
  315. Right to speedy public trial by jury. Right to confront accuser.
    6th Amendment
  316. Right to trial by jury in civil cases
    7th Amendment
  317. Prohibits excessive fines and bail. Prohibits cruel and unusual punishment.
    8th Amendment
  318. Existence of unenumerated rights.
    9th Amendment
  319. Limits powers of federal govn’t to those delegated by the Constitution.
    10th Amendment
  320. Sovereign immunity. Immunity of states from suits from out of state and foreigners.
    11th Amendment
  321. Revises Presidential procedures. If no Presidential candidate gets the majority vote, House will vote with each state only getting one vote.
    12th Amendment
  322. Abolishes slavery and servitude
    13th Amendment
  323. Defines citizenship, due process, and civil war issues
    14th Amendment
  324. Prohibits denial of suffrage on race color or servitude.
    15th Amendment
  325. Allows Fed govn’t to collect income taxes.
    16th Amendment
  326. Direct election of US Senators by popular vote.
    17th Amendment
  327. Prohibition of alcohol (repealed by 21st amendment)
    18th Amendment
  328. Women’s suffrage
    19th Amendment
  329. Lame duck amendment. Fixes the date of term commencements. President – Jan.20th, Congress – Jan. 3rd.
    20th Amendment
  330. Repeals 18th amendment
    21st Amendment
  331. Limits Presidential to two terms or ten years if vice takes over.
    22nd Amendment
  332. D.C. represented in electoral college.
    23rd Amendment
  333. Prohibits revocation of voting rights due to non-payment of poll taxes.
    24th Amendment
  334. Tyler Precedent – defines process of Presidential succession. President -> Vice President -> Speaker of the House -> President Pro Tempore of Senate -> Secretary of State
    25th Amendment
  335. Voting age 18
    26th Amendment
  336. Prevents laws affecting Congressional salary from taking effect until next session.
    27th Amendment
  337. Goals of U.S. in peace negotiations of WWI – Woodrow Wilson
    14 Points
  338. FDR – WWII – speech, worship, want, fear
    4 Freedoms
  339. American Civil Liberties Union – Founded during Red Scare to defend civil liberties, even when unpopular beliefs (Nazi and Communist supporters)
  340. The Age Discrimination in Employment Act makes it illegal for an employer to discriminate based on age, and applies to individuals at least the age of 40.
  341. Sales tax, income tax, and property tax. A tax based on value of real estate or personal property.
    Ad Valorem Taxes
  342. 1946-74 – Now Dept. of Energy & NRC Nuclear Regulatory Commission: licenses and regulates nuclear power plants
    AEC – Atomic Energy Commission
  343. Society in which scarcity of resources is not the predominant condition, and a general level of economic well-being has been achieved by most members of society. Coin termed by author Kenneth Galbraith in his book about post WWII America. Private-sector affluence and public-sector squalor. Private sector made automobiles, public sector couldn’t build roads for cars b/c of discouraging regulation and taxation. Challenges scarcity.
    Affluent Society
  344. Leader in the organized labor movement in the nineteenth century.
    AFL – (Now AFL-CIO) American Federation of Labor and Congress of Industrial Organizations.
  345. Precise set of operations or steps that produce a specific result. Ex: door opens, 5 seconds, no code entered, police
  346. A series of laws, passed during the presidency of John Adams at the end of the eighteenth century, that sought to restrict the public activities of political radicals who sympathized with the French Revolution and criticized Adam’s Federalist policies. In response to the Alien and Sedition Acts, James Madison and Thomas Jefferson wrote the Virginia and Kentucky Resolutions, which asserted States’ Rights.
    Alien and Sedition Acts
  347. Mountainous area where Russia, China, Mongolia, and Kazakhstan come together.
    Altai or Altay Mountains
  348. The process of paying off a debt over a fixed period of time with specified payments and interest rate.
  349. Also known as Asia Minor. Region of SW Asia that corresponds with today’s Turkey
  350. Election of 1828, introduced the modern Democratic Party.
    Andrew Jackson
  351. A descriptive term for objects and institutions, especially houses, that originated three or four decades before the Civil War. In Latin, “before the war”.
  352. Protection of the economic, political, and social status of Afrikaners
  353. The Italian peninsula
    Apennine Peninsula
  354. 97,000 sq km in the NE corner of the Northern Territory Australia.
    Arnhem Land
  355. Served as the U.S. first written plan of govn’t. Written by the Continental Congress during the American Revolution. Used from 1781-1788, until the Constitution was ratified.
    Articles of Confederation
  356. A mountain range in northwest Africa through Morocco, Algeria, and Tunisia. Includes the Rock of Gibraltar.
    Atlas Mountains
  357. Most journalists agree it means that the source will NOT be specifically identified.
    Background Information
  358. A peninsula in the west of Mexico. Separates the Pacific Ocean from the Gulf of California.
    Baja or Lower California
  359. 1776 – Shot began American Revolution. “The shot heard ‘round the world”, a poetic reference to its significance in extending democracy.
    Battle of Lexington
  360. Historic battle during WWII, proving the US navy was the equal of or superior to Japanese naval forces.
    Battle of Midway
  361. In a downward stock market in which stockholders may rush to sell shares, increasing the downward spiral.
    Bear Market
  362. An African-American scientist of the late eighteenth and early nineteenth centuries. He taught himself calculus and trigonometry in order to make astronomical calculations for almanacs. He was hailed by abolitionists for proving that “the powers of the mind are disconnected with the color of the skin”.
    Benjamin Banneker
  363. NOW – National Organization for Women founder.
    Betty Friedan
  364. Term originating from US and refers to an approach to international relations that involves peaceful negotiations backed up by the threat of military force if needed.
    Big Stick Diplomacy
  365. The Middle Class
  366. 1917, Event that prompted Russia’s withdrawal from WWI and subsequent peace treaty with Germany
    Bolshevik Revolution
  367. Coastal plateau in Brazil along the Atlantic Ocean.
    Brazilian Highlands
  368. First battle of revolutionary war “Don’t Fire until you see the whites of their eyes”
    Bunker Hill
  369. Presidential advisors composed of 14 heads: Agriculture, Commerce, Defense, Education, Energy, Health & Human Services, Housing & Urban Development, Interior, Labor, State, Transportation, Treasury, Veterans Affairs, Attorney General (House of Justice)
  370. Vast rock base stretching across Northern mainland Canada. Eroded hilly terrain with many important rivers.
    Canadian Shield
  371. Money used to finance the purchase of the means of production, such as machines.
  372. A term describing industries that employ relatively few laborers but that use expensive equipment.
  373. Eastern wing of the great central mountain system in Europe, along the borders of Czech Republic, Slovakia, Poland, Ukraine, and Romania. Separated from the Alps by Danube
    Carpathian Mountains
  374. An association in which producers of a similar or identical product try to obtain a monopoly over the sale of a product. The Organization of Petroleum Exporting Countries (OPEC) is this.
  375. A mountain range btwn the black and Caspian seas, usually considered the southeastern limit of Europe.
    Caucasus Mountains
  376. Let the buyer beware
    Caveat Emptor
  377. U.S. govn’t agency for preventing or minimizing the impact of epidemics such as bird flu
    CDC – Center for Disease Control
  378. Considered a key figure in the movement to secure equal rights and better conditions for migrant workers
    Cesar Chavez
  379. Founded the American Red Cross in 1881, which eventually grew into an international relief agency. Providing aid to victims under a neutral flag. She aided soldiers in Civil war.
    Clara Barton
  380. Only registered members of that party can vote.
    Closed Primary
  381. A vote of legislature used to stop debate on an issue and put the issue to vote. Ends a filibuster.
  382. Party of president also winning seats in Congress
    Coattail Effect
  383. An economy where supply and price are regulated by the govn’t rather than market forces. Govn’t planners decide which goods and services are produced and how they are distributed. Ex: Soviet Union (former)
    Command Economy or Centrally Planned Economy
  384. set of laws, admitted CA as a free state, but allowed other territories to decide slavery for themselves. Fugitive slave act was part of.
    Compromise of 1850
  385. Basin in central Africa with river that has second highest flow and second largest rain forest.
    Congo Basin
  386. A convention of statistics that measures industrial output and the like over time while controlling for changes owing to inflation. Using constant dollars usually gives a clearer view of how an enterprise is performing over time.
    Constant Dollars
  387. A measure within a country of the total cost of living as indicated by total cost of goods and services typically produced.
    Consumer Price Index
  388. used to describe the principle of Cold War U.S. foreign policy designed primarily to halt the influence of the U.S.S.R. Sought to end Soviet expansionism by restricting their sphere of power to within their current borders. Introduced by George F. Kennan and first applied in the Truman Doctrine of 1947.
  389. Advises the President on monetary and fiscal policy.
    Council of Economic Advisors
  390. federal law intended to turn Native Americans into farmers and landowners by providing cooperating families with 160 acres of reservation land for farming and 320 acres for grazing.
    Dawes Act of 1887
  391. presents different factors involved, allowing them to slowly gain understanding of the situation that has triggered bad news. Ex: informing employees of impending layoffs due to poor company performance.
    Deduction Presentation Style
  392. A mathematical curve, drawn on a graph, that represents what the demand for a commodity would be if its price ranged anywhere from zero to infinity. The point at which it intersects the supply curve for the same commodity supposedly establishes the price of the commodity in a free market.
    Demand Curve
  393. Plays the lead role in advising the President on foreign policy.
    Department of State
  394. A mountain range in southern Europe, spanning areas of Slovenia, Croatia, Bosnia, and Serbia
    Dinaric Alps or Dinarides
  395. The act of a corporation or conglomerate in getting rid of a subsidiary company or division. In a tactic to pressure South Africa to end apartheid, during the 1980s many Americans and Europeans urged this on corporations doing business in South Africa.
  396. The use of diplomatic influence, economic pressure, and military power to protect a nation’s economic and business interests abroad. The term was first used to describe the exploitative nature of the U.S. involvement in Latin America.
    Dollar Diplomacy
  397. An index of the relative price movement of the shares of thirty major industrial companies, most of which are traded on the NY Stock Exchange. Changes in the average gives investors a general picture of the state of the market.
    Dow Jones Industrial Average
  398. A supreme court ruling in 1857. Dred was slave that had lived for a time in a free territory. Sought to be declared a free man. Ruling said he was still his master’s property and not a citizen.
    Dred Scott Decision
  399. Out of many, one
    E pluribus unum
  400. Began in 1957 of western Europe countries to promote free trade.
    EEC – European Economic Community
  401. Implies limitations on use, usually in regards to a timeframe for publication. This is sometimes agreed to by the media for exclusivity. It will not be released or published until the specified date.
  402. Allows the government to take private property for public use with fair compensation
    Eminent Domain
  403. twice proposed, but never ratified by states for women’s rights.
    Equal Rights Amendment
  404. Refers to a speaker’s prestige which can come from credentials, knowledge, or experience, or extensive preparation.
  405. An inland tax on the sale or production for sale of specific goods. A tax on a good produced for sale or sold within a country or licenses for specific activities.
    Excise Tax
  406. The taking over of private property by a government, often w/out fair compensation but usually with a legal assertion that the govn’t has a right to do so.
  407. Estimating the value of a variable at an unobserved time or circumstance.
  408. A law that requires employers to grant leaves of absence to employees to who are seriously ill, who have newborn or newly adopted children, or who have to care for sick family members.
    Family and Medical Leave Act of 1993
  409. administered by the Justice Dept. , long headed by J. Edgar Hoover
  410. Regulates communication with television, radio, cable, and satellite.
    FCC – Federal Communications Commission
  411. Supreme court judge – “Judicial Restraint” or “Narrow Construction” – judges should be reluctant to declare legislative enactments unconstitutional unless the conflict btwn the enactment and Constitution is obvious.
    Felix Frankfurter
  412. Taxes deducted from paychecks to pay for Social Security Programs.
    FICA – Federal Insurance Contributions Act
  413. A type of parliamentary procedure. It is the right of an individual to extend debate, allowing a lone member to delay or prevent a vote on a proposal “Talking out a bill”. Can only be ended by a cloture
  414. A system of shared power between central government and smaller regional governments.
  415. Authored by Hamilton, Madison, and Jay. They are the best analysis and explanation to date of the Constitution.
    Federalist Papers
  416. Controls changes in the money supply
    Federal Reserve Bank
  417. Supreme Court Judge – “Judicial Restraint” or “Narrow Construction” – Judges should be reluctant to declare legislative enactments unconstitutional unless the conflict between enactment and Constitution is obvious.
    Felix Frankfurter
  418. laws that allow public access to all govn’t records.
    FOI – Freedom of Information
  419. During FDR – first female cabinet member – Social Security creation
    Frances Perkins
  420. Right to vote
  421. A federal statute of US that established a national minimum wage, guaranteed time-and-a-half for overtime in certain jobs and prohibited most employment of minors in oppressive child labor.
    FSLA – Fair Labor Standards Act of 1938
  422. US govn’t agency investigates claims of fraud and false advertising as well as allegations of business or industry price fixing. Also watches for coercive monopoly.
    FTC – Federal Trade Commission
  423. US government sponsored program seeks to promote improved international understanding and relations through scholarships, grants, and educational programs
    Fulbright Program
  424. U.K., Canada, France, Germany, Italy, Japan, Russia, U.S. World’s leading industrial nations. Anti-globalization protests at G8 Summits.
  425. Reports to Congress on govn’t expenditures and other tasks assigned to it. Conducts audits and provides oversight on federal spending. It is an independent agency not under control of the executive branch. Reports to Congress and acts as watchdog over government spending.
    Government Accountability Office – GAO
  426. A political device of drawing irregular district lines in order to favor one political power over another. An oddly shaped Congressional district has a majority of voters from one of the two major parties while the surrounding districts have majorities from the other major party.
  427. Congressional legislation with the original goal of assisting veterans returning from WWII in assimilating back into society
    G.I. Bill
  428. A Western Australian desert named after the man who perished while attempting to cross it in 1874.
    Gibson Desert
  429. Large desert region in northern China and southern Mongolia
    Gobi Desert
  430. Established to protect basic human rights
  431. The total value of goods and services produced domestically, plus income earned by citizens outside the country, less foreigner’s income from domestic production.
    GNP – Gross National Product
  432. Provides the only reliable source of water through much of inland OZ and is the largest artesian basin in the world. Covers most of Queensland.
    Great Artesian Basin
  433. Large States versus small states. Argument was over whether representation should be equal for all states or based on population. Compromise was creating a Congress with two houses. One with representation based on population and equal representation in the other.
    Great Compromise
  434. Australia’s only substantial mountain range. Runs Queensland entire east coastline to New South Wales.
    Great Dividing Range
  435. Valley that runs from Syria to Mozambique. Deepest valleys in Kenya.
    Great Rift Valley
  436. A barren, arid and sparsely populated desert eco-region in southern Australia. Falls in the states of S. OZ and W. Oz.
    Great Victoria Desert
  437. An economic principle proposed by an English financier, Sir Thomas Gresham, that bad money will drive good money out of circulation. For example, if the U.S. minted silver dollars and then, at a later date, began to mint dollar coins out of cheaper metals, the public would hoard the silver dollars. Silver dollars would stop circulating.
    Gresham’s Law
  438. A policy towards a foreign country that depends on the use or threat of use of arms. Big Stick Diplomacy
    Gunboat Diplomacy
  439. Northern coast of S. America. Tepius mountains with some of the highest waterfalls in the world.
    Guyanan Highlands
  440. Two mountain ranges on the western coast of the Arabian Peninsula. Gap in the two is near Mecca.
    Hajaz & Asir
  441. Management tendencies to skew an evaluation or appraisal positively in all areas due to high employee performance in a few areas
    Halo Effect
  442. President that promised prosperity by campaigning with the slogan, “A chicken in every pot and a car in every garage”.
    Herbert Hoover
  443. Mountain range in Afganistan and Northern Pakistan. Westernmost extension of the Pamir Mountains, the Karakoram Range, and the Himalayas.
    Hindu Kush
  444. Employers are required to complete on all employees to verify eligibility to work in the US.
    I-9 Form
  445. founded in 1957, has 140 nations as members, and states as one of its goals the safeguarding of nuclear materials
    IAEA – International Atomic Energy Agency
  446. A federal agency for regulating commerce that takes place in more than one state. One of its most familiar activities is regulation of trucking.
    ICC – Interstate Commerce Commission
  447. An Agency, dominated by wealthy nations, that lends money to developing nations.
    IMF – International Monetary Fund.
  448. The study of human behavior, including both individual and group dynamics, in the workplace.
    Industrial or Organization psychology
  449. Developing a marketing strategy to reach a target audience by using science or conclusions about populations by analyzing samples from that population.
    Inferential Statistics
  450. According to the law of demand, the relationship btwn price and quantity of goods demand
  451. Economist and philosopher, Adam Smith, refers to a theory that the greed of capitalists seeking wealth actually helps the poor in society.
    Invisible Hand
  452. Nation that gained freedom from Turkish control in treaties following WWI, existing as a mandate of Britain until full independence was granted in 1932.
  453. The political and symbolic division of Europe after WWII, separating countries under Soviet Influence or control from the rest of Europe.
    Iron Curtain
  454. An isthmus in Mexico. It represents the shortest distance between the Gulf of Mexico and the Pacific Ocean.
    Isthmus of Tehuantepec
  455. “Father of the Constitution” He came to the Constitutional Convention with the Virginia Plan which was the foundation of the Constitution.
    James Madison
  456. African American runner won four gold medals in the 1936 summer Olympics in Berlin
    Jesse Owens
  457. Description for segregation institution or laws
    Jim Crow
  458. Pragmatism – Progressive Education – Learn by doing
    John Dewey
  459. Enlightenment thinker most noted for his writings concerning human rights. He believed that men are born with rights that the government must protect. Used for Declaration of Independence. Breaking from monarchy absolute power.
    John Locke
  460. Desert in 70% of Botswana, Zimbabwe, Nambia, and South Africa. Not a true desert. Diamonds, coal, copper, nickel, and bushmen
    Kalahari Desert
  461. “Black Sand” is a desert in Central Asia. Occupies 70% of Turkmenistan. Has the Qara-Qum, largest irrigation canal in the world.
    Karakum Desert
  462. Protest of American invasion of Cambodia on May 4th, 1970 that resulted in the death of four unarmed students by the Ohio National Guard.
    Kent State Shootings
  463. Economic theories that advocate using government spending programs to increase employment. They are based on the thinking of John Maynard Keynes who rejected traditional theories of the free market.
    Keynesian economics
  464. United Nations helping S. Korea from invading N. Korea in 1950. Truman called it a “police action”, b/c he never asked congress to pass a declaration of war. Lyndon Johnson did the same with Vietnam War.
    Korean War
  465. A public official serving out a term in office after having been defeated for reelection or when not seeking reelection. 20th Amendment.
    Lame Duck
  466. Economic law propounded by David Ricardo, also called the law of diminishing marginal returns. It expresses a relationship btwn input and output, stating that adding units of any one input (labor, capital, etc.) to fixed amounts of the others will yield successively smaller increments of output.
    Law of Diminishing Returns
  467. An approximate historical geographical term referring to a large area in SW Asia. South of Taurus Mountains, bounded by Mediterranean Sea, Arabian Desert and Mesopotamia.
    Levant or Sham
  468. advance agreement by legislators to vote for one another’s bills. Most common to secure votes for bills that will benefit their home districts. Middle West wants higher dairy prices, so joins with the south for higher tobacco prices.
  469. “Great Society” Medicare was part of it and included extensive legislation aimed at ending racial injustice and poverty in America – Vice of JFK – “War on Poverty”
    Lyndon Johnson
  470. Long mountain range located in the center of Australia. Runs east and west of Alice Springs.
    Macdonnell Ranges
  471. Branch of economics dealing with performance, structure, behavior, and decision making of the whole country. One of the most general fields.
  472. General theory of Employment. Interest and money.
    Author John Maynard Keynes
  473. British economists concerned with overpopulation. Theories hold that populations always increase faster than food supplies, so hunger will always exist among the poorest populations. Made economics seem “dismal science”.
    Malthusian Theories – Thomas Malthus & David Ricardo
  474. Consists primarily of the northern side of the funnel-shaped North China Craton. Climate has most extreme seasonal contrasts of any place in world.
    Manchurian Plain
  475. The secret project conducted by the US during WWII that resulted in the creation of the first atomic bombs and the eventual bombing of Hiroshima and Nagasaki
    Manhattan Project
  476. The belief in the superiority of American govn’t and values and our right to spread it across the continent.
    Manifest Destiny
  477. The power of judicial review was established for federal courts. In 1801 the case declared a law passed by Congress to be unconstitutional. Established the power of courts to interpret the Constitution and its laws.
    Marbury vs. Madison
  478. The change in total cost of production when an output is varied by one unit.
    Marginal Cost
  479. An economy in which the prices of goods and services are determined in a free price system. Socialist Market ex: China, Vietnam.
    Market Economy
  480. Writer of Global Village in 1960. Now associated with worldwide connections through the internet. Universal access to information through electronic media.
    Marshal McLuhan
  481. Self-actualization, belongingness, cognitive needs, physiological needs (greatest importance: food, water, survival, water, health, sleep)
    Maslow’s Hierarchy of Needs
  482. Known for designing the Vietnam Veterans Memorial in Washington D.C.
    Maya Lin
  483. Economic practice of many European nations in the 15th & 16th centuries in which they sought cheap raw materials from which to create finished products that could be exported to build the nation’s wealth, justifying their colonial empires. Led to widespread exploration and colonization.
  484. Alluvial plain lying btwn the Tigris and Euphrates Rivers, near Iraq and Syria. Beginning of civilization.
  485. An American economist of the twentieth century. Friedman has defended free enterprise and attacked government regulation of the economy. He has condemned socialism as an economic failure and celebrated capitalism for combining prosperity with personal liberty.
    Milton Friedman
  486. Practiced in the US, promotes the importance of both public and private roles in the economy. An economic system in which both the state and private sector direct the economy, reflecting characteristics of both market economies and planned economies. Ex: United Kingdom
    Mixed Economy
  487. The most significant agricultural area of OZ. Lies in New South Wales and Victoria.
    Murray-Darling Basin
  488. An effect in economics in which an increase in spending produces an increase in national income and consumption greater than the initial amount spent. For example, if a corporation builds a factory, it will employ construction workers and their suppliers as well as those who work in the factory. Indirectly, the new factory will stimulate employment in laundries, restaurants, and service industries in the factory’s vicinity.
    Multiplier Effect
  489. March 16th, 1968 – Vietnam War, mass murder of between 347 and 504 unarmed civilians in South Vietnam by US army soldiers of Charlie Company.
    My Lai Massacre
  490. Btwn U.S., Canada, and Mexico to establish free trade by 2009 (established in 1994). Labor Unions oppose that it takes jobs to cheaper Mexico.
    NAFTA – North American Free Trade Agreement
  491. East of Hijaz and Asir. Area of rocky plateau.
    Najd Plateau
  492. Law restricted immigration of SE Europeans and Asians until 1960’s
    National Origins Act of 1924
  493. helps build rapport, empathy, and reduce tension, creating a more positive and receptive environment for communication by mirroring another person’s tone and body language.
    Neuro-Linguistic Programming – NLP
  494. established collective bargaining and the right to organize as national policy
    NLRA – National Labor Relations Act
  495. government agency regulates the process for certifying labor unions as representatives of certain groups of workers.
    NLRB – National Labor Relations Board – 1935
  496. Ties local district performance to federal education funds. Federal govn’t has no constitutional authority over education, but they can distribute and withhold funds to compel state and local cooperation.
    No Child Left Behind
  497. The rate of interest before adjustment for inflation.
    Nominal Interest Rate
  498. States as its goal, equality for women in all sectors of society
    NOW – National Organization for Women
  499. A committee in the Executive Branch that advises the president on matters relating to domestic, military, and foreign security. The NSC also directs the CIA (Central Intelligence Agency)
    NSC – National Security Council
  500. Economics that expresses value judgements about economic fairness or what the economy ought to be like or what goals of public policy ought to be. Ex: The price of milk should be $6 a gallon to give dairy farmers a higher living standard and save the family farm.
    Normative Economics
  501. Also called the Middle Plain, made of deposits of the Huang He (Yellow River) and is the largest alluvial plain in Eastern Asia. Yellow soil. Most densely populated region in the world.
    North China Plain
  502. The vast area of flat almost treeless, arid or semi-arid country in southern Australia.
    Nullarbor Plain
  503. John C. Calhoun – 1830’s – maintained that when a state found a federal law unacceptable, the state had the right to declare the law null or inoperative. Aimed at the high protective tariff of 1828. Influenced secession and civil war.
  504. A market form in which a market or industry is dominated by a small number of sellers. B/c there are few sellers – each is aware of the actions of others. Decisions of one firm influence, and are influenced by, the decisions of other firms. Ex: Automobile manufacturing.
  505. Supreme Court Judge – “Clear and Present Danger”
    Oliver Wendall Holmes Jr.
  506. Anyone can vote
    Open Primary
  507. Using a resource in one capacity in production eliminates the ability to use it in another. By using a resource in its primary way, the second best opportunity is lost.
    Opportunity Cost of Production
  508. refers to vocal characteristics such as pitch, speed, volume, and sounds such as sighing and throat clearing that can send non-verbal messages to your audience.
  509. A price paid to American farmers that is designed to give them the same real income that they had btwn 1910 and 1914, a period selected b/c it was a time of agricultural prosperity.
    Parity Price
  510. A law stating “Work expands to fill the time available for its completion.”
    Parkinson’s Law
  511. “Give me liberty or give me death” – 1700s
    Patrick Henry
  512. Classified study of Vietnam War leaked to Washington Post & NY Times by Ellisberg. Nixon ordered “plumbers to stop the leaks”. Broke into Ellisberg’s Psychiatrist’s office to find dirt
    Pentagon Papers
  513. A system of forced labor based on debts incurred by workers. Developed particularly in plantation economies, where employers forced laborers to buy from employer-owned stores, pay inflated prices, and stay in debt.
  514. Separate but Equal in 1890’s. Overturned by Brown vs. Board
    Plessy vs. Ferguson
  515. In public speaking, a disingenuous and vilifying definition of terms or characterization of an argument, which does not allow for reasoned opposition. A vilifying personal attack on a speaker to discredit that person’s arguments is a particular type of ad hominem argument.
    Poisoning the Well
  516. Way to join a war without making a declaration of war. Truman never asked Congress for declaration of war to join the U.N. in Korean War in 1950. Lyndon Johnson did the same with Vietnam War.
    Police Action
  517. Gerrymandering, spoils system, patronage (appoint people or offer favors), beers for votes, Mayor Richard Daley in Chicago worst offender.
    Political Machine
  518. Branch of economics that concerns the description and explanation of economic phenomena. It focuses on facts and cause-and-effect behavioral relationships. It can be proven true or false by comparison against real-world data. Ex: The price of milk has risen from $3 to $5 a gallon in the past 5 years. Exxon Mobile’s third quarter profits were down 15% from last year.
    Positive or Descriptive Economics
  519. Must be natural born citizen, fourteen years of residency, 35-years-old
  520. The first Tuesday after the first Monday of November every fourth year. Congressional legislation established the date in 1845.
    Presidential Election
  521. In a free enterprise economy, the market forces of supply and demand that determine the pricing of products and commodities.
    Price Mechanism
  522. Party votes to nominate a candidate for President. Primary elections allow political parties to choose candidates to run in general elections.
    Primary Election
  523. Passage of all possessions to the eldest child. Applied to both property and monarchial succession.
  524. 1890-1920
    Progressive Era
  525. Teddy Roosevelt & Wilson – Trust busters – election of Senate by people. 1900-1920
    Progressive Movement
  526. A tax by which the tax rate increases as the taxable base amount increases. Would affect all groups equally regardless of income.
    Progressive Tax
  527. A term often applied to industrial workers, particularly by followers of Karl Marx
  528. An electoral system in which seats in a legislature are awarded to each party on the basis of its share of the popular vote. U.S. does not do this. Attempted in a few cities. System encourages only 2 political parties.
    Proportional Representation
  529. A tax imposed so that the tax rate is fixed. The amount of the tax is in proportion to the amount subject to taxation.
    Proportional Tax
  530. Focuses mainly on the feelings, lifestyles, values, and beliefs that people hold or follow.
  531. Madison calls a society consisting of a small number of citizens, who assemble and administer the government in person.
    Pure Democracy
  532. The greater the expectation placed upon people, the better they perform. Named after a Cypriot sculptor in a narrative by Ovid in Greek mythology, who fell in love with a female statue he had carved out of Ivory.
    Pygmalion Effect or Rosenthal Effect
  533. Range of mountains in SW Europe that form a natural border btwn France and Spain.
  534. Minimum number of members who must be present before business can officially or legally be conducted. i.e. 218 of 435 of house and 51 of 102 of senate
  535. approval from the legislative branch required to validate govn’t agreements. Amendments to constitution require state this. International treaties require this.
  536. The rate of interest an investor expects to receive after allowing for inflation. Described by Fisher equation, nominal interest rate minus inflation rate equals this.
    Real Interest Rate
  537. Deportation of immigrants in 1919-1920 over Russian Revolution & Communism
    Red Scare
  538. A tax imposed in such a manner that the tax rate decreases as the amount subject to taxation increases. Poses a greater burden on the poor.
    Regressive Tax
  539. To change the zoning classification of (a neighborhood property). A device of land use planning used by local governments in most developed countries.
  540. A provision, usually controversial and unlikely to pass on its own merits, that is attached to a popular bill in the hopes that it will “ride” to passage on the back of the popular bill.
  541. handbook for running meetings effectively and efficiently, based on procedures used in British Parliament.
    Robert’s Rules of Order
  542. Legalized first trimester abortions. Broad construction of right to privacy. 1st, 4th, and 9th amendments used in decision.
    Roe vs. Wade
  543. Oldest President – “Great Communicator”
    Ronald Reagan
  544. The empty quarter. Largest sand desert in the world. Covers U.E., Saudi Arabia, Oman, and Yemen.
    Rub Al’Khali
  545. Also called East European Plain. Plain and series of broad river basins in Eastern Europe. Extends over 4,000,000 sq km and averages 170 m in height.
    Russian Plain
  546. First woman in Supreme Court 1981
    Sandra Day O’Connor
  547. Means shore or border in Arabic. Boundary zone in Africa btwn Sahara and fertile region. Primarily Savanna. Atlantic Ocean to Horn of Africa.
  548. The basic problem on which classical economic theory is built: simply, that human wants will always exceed the resources available to fulfill those wants. Challenged by John Kenneth Galbraith in Affluent Society. The reason for the study of economics.
  549. administered by Dept. of Treasury – IRS is also controlled by treasury – founded to combat widespread counterfeiting of U.S. currency following the Civil War.
    Secret Service
  550. Refers to the use of words or language that is not widely understood or could possibly mean different things to different people.
    Semantic Noise
  551. Exclusive right to try cases of impeachment, approve presidential appointments, confirm treaties, and elect a vice president if no candidate receives a majority from the Electoral College. Vice President is the presiding officer of Senate.
  552. Article I, Section III of Constitution – six year term with 1/3 of senate up for re-election every two years. Must be 30-years-old
  553. Prohibits monopolies – Targeted standard oil and tobacco companies
    Sherman Anti-Trust Act
  554. Organization with primary goal of practicing and promoting the responsible use of the earth’s ecosystems and resources.
    Sierra Club
  555. A mountain range in Southern Mexico
    Sierra Madre del Sur
  556. A mountain range in Western Mexico and extreme SW of US
    Sierra Madre Occidental
  557. Mountain range in NE Mexico
    Sierra Madre Oriental
  558. A triangle-shaped peninsula lying btwn the Mediterranean Sea and Red Sea. Located in Egypt.
    Sinai Peninsula
  559. Conflict in which the U.S. defended the Monroe Doctrine, declaring war after the sinking of the U.S.S. Maine.
    Spanish American War
  560. Area in South Africa
    South African Plateau
  561. Reagan – defense in outer space against intercontinental ballistic missiles
    Star Wars
  562. Rich sedimentary plain in southern parts of Quebec and Ontario.
    St. Lawrence Basin
  563. A range of mountains and hills in the SW region of Western Australia.
    Stirling Range
  564. By lowering taxes on corporations, govn’t can stimulate investment in industry and thereby raise production, which will, in turn, bring down prices and control inflation. The theory also favors improvements in education and training to make workers more productive and reducing the welfare state to spur individuals to work harder. Focus on increasing the supply of goods rather than stimulating demand by granting subsidies to the public. Ronald Reagan.
    Supply-side economics
  565. A combination of steppe and true desert, located in parts of Syria, Jordan, and Iraq
    Syrian Desert
  566. Truman vetoed, congress passed with 2/3 vote. Reversed pro labor policies of FDR regarding Labor Unions
    Taft – Hartley Act
  567. A desert of Central Asia in China. Possibly means: “If you go in, you won’t come out”, “Death Desert” or “Place of no Return”. Many mummies and important route for silk route.
  568. A type of investment that allows a reduction in one’s taxable income. Examples include investments in pension plans and real estate.
    Tax shelter
  569. Harding scandal – 1920’s – Pres. Harding bribed to lease out oil reserves
    Teapot Dome Scandal
  570. A series of pamphlets (Common Sense pamphlets) written by Thomas Paine during the revolutionary war. “These are the times that try men’s souls.”
    The American Crisis
  571. British economists concerned with overpopulation. Malthusian theories hold that populations will always increase faster than food supplies and that therefore, hunger will always exist among the poorest populations. Made economics seem like “dismal science”
    Thomas Malthus & David Ricardo
  572. Introduced the elephant and donkey in political cartoons in 1874 elections
    Thomas Nast
  573. First African American in supreme court, Lawyer for NAACP and Brown vs. Board. Appointed in 1967 by President Lyndon Johnson and served for almost 24 years.
    Thurgood Marshall
  574. A mountain range located in Central Asia, to the north and west of the Taklamakan Desert in the border region of Kazakhstan, Kyrgyzstan, and Western China
    Tian Shan
  575. Large elevated region in Central Asia covering much of Tibet. Called “the roof of the world”. It contains the world’s tallest mountain range.
    Tibetan Plateau
  576. method that can be substituted for Performance management
    Traditional Appraisal Systems
  577. Catch-all term to describe economic systems that pertain in societies with extensive subsistence agriculture. Used for primitive or underdeveloped countries.
    Traditional Economy
  578. The path taken in the 1830’s by thousands of southeastern Native Americans when the U.S. govn’t forced them to relocate west of the Mississippi River.
    Trail of Tears
  579. FDR’s vice, dropped atomic bomb in Japan. Supported United Nations, Put forward Marshall Plan to aid Europe recovery, Korean War
  580. Writer of The Jungle in 1906. Theme was the need for government regulation to protect consumers from corporate greed.
    Upton Sinclair
  581. Mountain range that runs north/south through western Russia.
    Ural Mountains
  582. The practice of charging more than the legal interest rate.
  583. A tax on the value added to a product at each stage of its production, from raw materials to finished product. Widely employed in Europe, value-added taxes have the advantage (for govn’ts) of raising revenue “invisibly” w/out appearing as taxes on the bill paid by the consumer.
    Value-added tax (VAT)
  584. Stopped literacy tests for right to vote
    Voting Rights Act of 1965
  585. Written by Madison. Implies the predominance of passions and interests that move groups of citizens in ways that threaten the rights of other citizens or good of community. Republics perish under vice and this same fate threatens the 13 American States. Two cures: Removing their causes and controlling their effects.
    Violence of Faction
  586. founder of NAACP – National Association for the Advancement of Colored People
    W.E.B. DuBois
  587. specifies that U.S. troops must be withdrawn from combat within 90 days unless Congress approves their deployment.
    War Powers Resolution
  588. A permanent committee of the house of representative, which makes recommendations to the House on all bills for raising revenue. The committee is the principal source of legislation concerning issues such as taxation, customs duties, and international trade agreements.
    Ways and Means Committee
  589. Part of New Deal. Built sidewalks & govn’t buildings. Employed many people during depression.
    WPA – Works Progress Administration
  590. A court order requiring the govn’t to bring a prisoner to court and explain his detention. Constitution states this can be suspended in times of invasion, rebellion, or public safety emergency.
    Writ of Habea Corpus
  591. A series of alluvial plains stretching from Wushan Mountains to the coast. Located in China, formed from the Yangtze River.
    Yangtze Plain
  592. Nobel peace prize recipient in 1994 for his efforts to bring peace to the Middle East.
    Yasser Arafat
  593. Will Hearst – Sensational writing in 1890’s – whipped up public opinion against Spain – led to Spanish American War with USS Maine sinking in Cuba
    Yellow Journalism
  594. Precipitated the 1973 oil crisis in which Arab members of OPEC as well as Egypt and Syria refused to sell oil to the U.S. and numerous other western nations b/c the U.S. aided Israel. War lasted 20 days. Energy crisis for several years afterward.
    Yom Kippur War
  595. Which is not a Presidential power explicitly granted in the Constitution?
    Executive Orders – Article 2, Section I of Constitution grants executive power, but not executive orders.
  596. Name a Constitutional check and balance on the power of the Executive Branch.
    Congressional authority to override Presidential vetoes.
  597. Who were the first Presidential candidates to debate on television?
    Nixon and Kennedy in 1960
  598. Which amendment extended voting rights to American Women?
    19th Amendment – ratified in 1920, prohibited the denial of voting rights based on gender.
  599. Which dept. or agency does not fall under the umbrella of Dept. of homeland Security control? A.Transportation Security Administration B.)United States Secret Service C.)Federal Bureau of Investigation D.)Federal Emergency Management Agency
    D.)Federal Bureau of Investigation is under the Justice Department
  600. Comparing the tax burden of American citizens with that in other countries, what country has a lower tax burden when considered as a percentage of the GNP?
    Mexico at 18% (US 27%, Germany, Denmark, Great Britain well over 30%)
  601. Which of the following has been least impacted by the post WWII phenomenon sometimes referred to as white flight? A)Public Education B)Housing C)Crime D)Corporate Jobs
    D)Corporate Jobs
  602. What event resulted from the United States Cold War strategy?
    US involvement in the Korean War
  603. If your organization’s spokesperson announces media availability for the following day at 10 A.M., that generally means:
    The spokesperson will be available for questions at that time.
  604. Which of the following treaties was not approved by the U.S. Senate: A)Threshold Test Ban Treaty 1974 B)Strategic Arms Limitation Treaty of 1979 C)Intermediate range Nuclear Forces Treaty of 1988 D)Conventional Forces in Europe Treaty of 1992
    B. , but Carter withdrew it from the senate after the Soviet invasion of Afghanistan
  605. How do you determine a winner in a Presidential election in which no candidate receives a majority?
    12th Amendment – The House of Representatives will vote to determine a winner, who must receive a majority of the votes, with each state having one vote.
  606. The fifth-eighth Amendments to the US Constitution protect the individual right to?
    Due process in a court of law
  607. According to the Constitutional principle of checks and balances, what oversight can Congress exercise in respect to the Presidential power of appointment?
    Article II, Section 2 – The Senate may reject cabinet level nominees
  608. According to the Constitution, who has the authority to regulate trade with foreign nations?
    Congress - Article I, Section 8
  609. The Civil Rights Act of 1964 took steps to enforce the provisions of which amendment?
    15th Amendment – Prohibits discrimination in voting based on race. Many states made legislation to get around this, so the Civil Rights Act eliminated these state obstacles.
  610. Which Southern Pacific Island(s) is not considered a US territory or protectorate? A)Palmyra Atoil B)Guam C)Northern Mariana Islands D)Cook Islands
    D. Cook Islands
  611. What church practice was condemned in the works of Martin Luther, fueling the Protestant Reformation?
    The selling of indulgences
  612. What do you call the presiding officer of the U.S. Senate?
    Vice President – Article I, Section 3 – He doesn’t vote unless there is a tie. The Presidential pro tempore takes over in his absence.
  613. How many times has the U.S. Constitution been amended?
    27 times – First 10 in 1791, Last in 1992
  614. In which city is the United Nations headquarters located?
    New York – Built in 1946, land donated by John D. Rockefeller, considered international property.
  615. What nations have permanent seats on the United Nation Security Council?
    U.S., U.K., Russia, China, and France – There are ten rotating positions on two year terms
  616. Which of the countries averaged the largest amount of oil exported daily in 2005? A)Russia B)Kuwait C)Venezuela D)Oman
    A)Russia, then Venezuela
  617. Since the organizations creation in 1992, which eligible nation has not joined the EU? A)Switzerland B)Poland C)Slovenia D)Greece
  618. The Freedom of Information Act, enacted by the Congress in 1966 was expanded in 1996 to encompass
    Electronic Records
  619. Unless told otherwise, a professional journalist will most likely consider anything said by a source to be:
    On the Record
  620. A work group that has high performance norms and low cohesiveness will most likely have which level of performance?
  621. The most economical route for an oil pipeline from Turkmenistan to world export markets would cross: A)Iran B)Afghanistan C)Uzbekistan D)Pakistan
  622. The primary medium for the diffusion of American popular culture throughout the world following WWI was:
    Motion Pictures
  623. Which amendment to the Constitution affected the political process by declaring that the Federal Govn’t should not interfere with the press?
  624. Congress can override a Presidential veto of a congressional bill by:
    Passing the bill again by a 2/3 majority in both houses
  625. The catastrophic 1972 Summer Olympics in which terrorists killed eleven Israeli athletes was held in?
  626. Which nation would NOT be considered a constitutional monarchy today? A)Great Britain B)Portugal C)Sweden D)Australia
    B)Portugal – had constitutional monarchy until 1910. Now has parliamentary democracy
  627. Each of the following nations, once part of Yugoslavia, emerged as an Independent country at the end of the Balkan conflict that dominated much of the 1990s except: A)Slovenia B)Serbia C)Macedonia D)Latvia
    D)Latvia – It is located in the Baltic Sea, not Balkans.
  628. All of the following countries were members of the Allied Coalition in the Persian Gulf War except: A)Canada B)Saudi Arabia C)Syria D)India
    D)India – Allied coalition was made up of 34 countries in response to Iraq invading Kuwait.
  629. Which of the following Latin America nations did not win independence from European control until the twentieth century? A)Venezuela B)Ecuador C)Paraguay D)Grenada
    D)Grenada – in 1974
  630. The following are all members of the Group 8 or G8 nations, who together represent more than one half of the world’s economy in terms of dollars, except: A)Italy B)Canada C)Russia D)China
  631. Which of the following countries was not invaded or occupied by German forces during WWII? A)Belgium B)Norway C)Sweden D)Russia
    C)Sweden – they remained neutral
  632. Islam is the official state religion of all the following nations, except: A)Somalia B)Tunisia C)Kuwait D)Turkey
    D)Turkey – Religious freedom is mandated, but is predominantly Muslim
  633. Which of the following nations is on the U.S.’s official list of state sponsors of terrorism? A)Sudan B)South Korea C)Saudi Arabia D)Jordan
  634. If you are managing a group of highly trained professionals with demonstrated creativity, motivation, and a history of high performance, they might respond best to which of the following management styles? A)Laissez-faire B)Directive autocratic C)Paternalistic D)Passive autocratic
  635. Which of the following locations is not home to a United States military base or establishment? A)Puerto Rico B)Saudi Arabia C)Turkey D)India
  636. Most of which nationality or race were banned from immigration into the US during a sixty year period starting in 1882? A)Chinese B)African C)Mexican D)Irish
  637. In Brown vs. Board of Education of Topeka, the Supreme Court reached what landmark ruling?
    Separate is not equal in public schools
  638. The Scopes trial in Tennessee that captured national and international media attention in 1925, centered on what controversial issue?
    Teaching evolution in public schools.
  639. Who was the key figure in the illegal sale of arms to Iran to aid Nicaraguan contras in the 1980s?
    Marine Lt. Oliver North
  640. Which songwriter is best known for using music to define America’s patriotism and holiday traditions? A)Irving Berlin B)Duke Ellington C)Burt Bacharach D)Cole Porter
    A)Irving Berlin – God Bless America, White Christmas
  641. Which govn’t program or agency does NOT have its roots in Franklin D. Roosevelt’s New Deal? A)Social Security B)FDIC C)Tennessee Valley Authority D)Medicare
  642. If you see an employee staring out the window rather than working, and you judge that employee as “lazy”, you may be making the: A)Fundamental attribution error B)Self-serving bias error C)Actor-observing error D)Stereotyping error
    A)Fundamental attribution error – It is attributing behavior to a person’s qualities without taking sufficient account of the circumstances.
  643. A directive leadership style is most appropriate under which of the following conditions? A)Subordinates are performing highly structured tasks B)There is substantive conflict among subordinates C)Subordinates have high levels of ability and experience D)The work environment is highly bureaucratic
    B)Conflict among subordinates often necessitates this highly autocratic leadership style to accomplish a goal. A discordant team is unlikely to respond to more win-win or cooperative styles of leadership.
  644. What are the three basic economic problems that every economy must solve?
    What to produce, how to produce, for whom to produce
  645. Which of the following types of political campaigns is partially publicly financed? A)Senate Campaigns B)House campaigns C)Gubernatorial campaigns in all 50 states D)Presidential campaigns
    D)Presidential Campaigns – Money is gathered through a voluntary tax check-off on federal income tax forms for the Presidential Election Campaign Fund, which is maintained by the U.S. Treasury.
  646. The expansion of U.S. presidential power in foreign policy is best illustrated by: A)The Senate’s decision in regard to the Treaty of Versailles in 1919-1920 B)The United Nations Act of 1945 C)President Roosevelt’s Destroyer-for-Bases deal in 1940 D)The War Powers Resolution of 1973
    C) FDR bypassed Congress in committing 50 U.S. destroyers to Britain in exchange for six U.S. naval bases in British controlled Caribbean Islands. Truman and both houses signed UN Charter. Senate failed to ratify against Wilson.
  647. How did the end of World War II affect women’s employment in the 1950’s in the U.S.?
    Women lost higher-paying jobs to veterans but many returned to lower-paying jobs.
  648. Companies such as Moody’s and Standard & Poor’s provide the service of:
    Determining credit ratings for public and private companies
  649. What are the primary responsibilities of the President’s Chief of Staff?
    Supervision of White House Staff and management of the Presidential appointment calendars and Presidential access. Role is administrative and personal advisor.
  650. The Magna Carta, a series of agreements first signed by an English King in 1215, has been most influential in world history in the area of:
    Advancing Constitutional Law – was first signed under duress
  651. In federal govn’t budgeting, “mandatory” spending differs from “discretionary” spending in which way?
    Mandatory spending is not subject to the annual appropriations process
  652. What was a primary issue addressed by the Bipartisan Campaign Reform Act of 2002, also known as the McCain-Feingold Bill?
    Limiting soft money contributions to candidates.
  653. When conducting a media interview or making a statement to a member of the media, the phrase “not for attribution” generally implies:
    The reporter can use the information, but cannot quote the source directly.
  654. Before the President orders a covert intelligence operation, he must:
    Inform the congressional intelligence committees – In the case of CIA, oversight is shared with the Foreign Relations Committee.
  655. Describe the process for choosing Electors in Presidential Elections as established by the Constitution?
    Each state legislature determines the process for choosing electors from that state and is allowed the number of electors equal to that state’s total representatives in Congress. Article II, Section I. Electors = to State’s Senators and Representatives combined.
  656. Psychologist Frederick Herzberg suggests a two part system for motivating employees in which factors contributing to motivation are divided into “hygiene factors” and “motivators”. Which of the following is a motivator that can succeed only if basic needs or hygiene factors are met? A)Salary B)Advancement C)Job Security D)Vacation Time
  657. You are developing official forms for a target population. In conducting research, you gather data about your target population from a random sample. This data includes race, gender, and family status. This type of variable is known as: A)Ordinal B)Interval C)Ratio D)Nominal
    D)Nominal – Qualitative in nature and can’t be quantified.
  658. This country had Central Planning. No foreign imports. Ruined the economy. Domestic products were substandard, never approved, and expensive with no foreign competition. After Soviet Union collapsed, this country switched to free market.
  659. This man was picketed at his nobel peace prize ceremony for visiting Chile to advise the dictator Junta on how to save the economy. Had dictator cut govn't budget, privatize companies, replace communism with free market. It became the fastest growing free market in South America.
    Milton Freidman
  660. This country had an economic collapse in 1989 with massive inflation.
  661. Economic reform that cuts govn't spending, switch to market economy. Successful in Bolivia in 1980s. Prices raise very high at first and then drop. Poland successful in 89.
    Shock Therapy
  662. This country switched to market socialism in 1989.
  663. Economic practice used to get US and UK out of the depression after WWII. Lots of spending and regulation. Govn't control over companies (Nationalization). Increased govn't spending and increased inflation.
  664. What two world leaders deregulated companies. Created a recession. Decreased govn't spending, decreased taxes, moved away from Keynesian Economics and more towards Milton Friedman. Led to great prosperity.
    Ronald Reagan and Margaret Thatcher
  665. Japan, Cambodia, Belgium, and Malaysia all have what form of government?
  666. This country was occupied twice by the US. 1914-1934 & 1994-1995
  667. President assassinated at World's Fair. Elected in 1896. High tariffs on foreign imports. Shot by anarchist in abdomen. Died from gangrene from unremoved 2nd bullet. Always had light security. 3rd President assassinated in 36 yrs.
    William McKinley
  668. Congress added President Security to Secret Service's duties after this President's assassination in 1901.
    William McKinley
  669. 1909 - First President on a coin.
    Abraham Lincoln
  670. Who said, "I only regret that I have but one life to give fore my country." State hero of Connecticut. Revolutionary War. Hung by British as spy to Americans.
    Nathan Hale
  671. Galacian is a Spanish dialect that comes from what language?
  672. Most feared woman of WWI era. Co-founded German Communist Party. Marxist. Originally Polish. Anti WWI. Pseudonym was 'Junius'. Shot and thrown into the river. "Freedom is always the freedom of the one who thinks differently."
    Red Rosa - Rosa Luxembourg
  673. Who was vice President when Truman dropped the atomic bomb?
    No one.
  674. War 1754-1763, involving France, Britain, and Spain. George Washington. Battle of Fort William Henry with Indians massacring the British after surrender. (Last of the Mohicans) British increased taxes on colonies to pay for the war which led to the Revolutionary war.
    French & Indian War or 7 Years War
  675. French moved from Acadia (Maine)
  676. War in South Africa 1880-81, 1899-1902. First concentration camps by British against South African farmers.
    Boer War
  677. Temperance advocate 1846-1911, destroyed bars with a hatchet. Later played in vaudevill.
    Carrie Nation
  678. What was the first company in Russia to be privatized in 92?
    Bolshevik Bisquits
  679. After Gorbachov announced that the Soviet Union no longer existed and Boris Yeltin took over, it was legal to own a personal business for the first time in 75 years. What did this lead to?
    Super Inflation
  680. Wrote 'You and the Atomic Bomb' - 1945 - about living in the shadow of nuclear warfare.
    George Orwell
  681. Wrote 'The Cold War' came up with the phrase in 1947. Came from French term 'la guerre froide'
    Walter Lippman
  682. Winston Churchhill, FDR, Joseph Stalin - 1945 - or Tehran Conference or Yalta Conference
    Big Three
  683. States ceded by Germany in the Molotov-Ribbentrop pact. Eastern Poland, Latvia, East Germany, Estonia, Lithuania, Bulgaria, Cvech Republic, Hungary, Romania, Albania
    Eastern Bloc
  684. Person who coined the term 'Iron Curtain' in speech
    Winston Churchill
  685. Focused on containment of Communism. Included Marshal Plan to pledge economic assistance for all European countries to rebuild Europe after WWII
    Truman Doctrine
  686. Signed by Truman. Created Department of Defense, Central Intelligence Agency, and National Security Council.
    National Security Acts of 1947
  687. Stalin refused aid from Marshall Plan, so created this to rebuild Russia through subsidies and Eastern trade.
    Molotov Plan or Comecon
  688. Russian prevented food, materials, and supplies, from arriving in West Berlin from US, Britain, and others under Marshall Plan was called...
    Berlin Blockade
  689. Truman - 1949 - Organization of Canada, Britain, France, US, and 8 others
    NATO - North Atlantic Treaty Organization
  690. Russia withdrew from Warsaw Pact (promise of peace) and invaded Hungary. Deportations, executions, fleeing immigrants. Brutally killed much support for Communism.
    Hungarian Revolution of 1956
  691. Covert operation to overthrow Iranian prime minister by CIA.
    Operation AJAX
  692. In what country in 1954, did the CIA overthrow President Jacob Arberiz Guzman. Set-up military junta. Denationalized United Fruit Company. Set up defense and preventative law against Communism.
  693. Who was President when the US severed relations with Cuba?
  694. Indonesia, Afghanistan, Iran, Japan, Republic of Congo, British Guiana, Dominican Republic, Chile, Vietnam, Somalia, Ethiopia, Nicaragua, and Cuba all have what in common?
    All involved in the spread of Communism
  695. The immigration of most young intellectuals from east to west Germany in 1961 was called?
    Brain Drain
  696. Which country withdrew from NATO in 1966 b/c they wanted to have as much power as US and UK. Also wanted NATO assistance with Algeria.
  697. Central figure in the cold war. US National Advisor & Secretary of State for Presidents Nixon and Ford.
    Henry Kissinger
  698. Signed by Nixon and Russia to limit the development of nukes.
    SALT I & Anti-ballistic Missiles Treaty
  699. Detente is another word for:
  700. Carter pulled treaty and banned 1980 summer Moscow Olympics after USSR became involved in assassinations and fighting in Afghanistan.
  701. Largest increase in military spending during peace time. This President intervened in Lebanese War, invaded Grenada, bombed Libya, and backed Contras in Nicaragua. Star Wars
  702. Pro-Communist group that bombed ITT in NYC in 1973 for company's involvement in Chilean President Allende's overthrow.
    Weather Underground
  703. 1973-1990, Military regime. Killing, torturing, arresting, disappearing leftists. Pinochet Regime. What country?
  704. Wilson - 1917 - 1. Reliance on open diplomacy and not secret agreements. 2. Freedom of the seas. 3. Free Trade. 4. Disarmament 5. Adjudication of colonial claims w/ respect for the sovereignty of the colonial peoples 6. Assistance for Russia 7. Respect for the integrity of Belgium 8. Restoration of French territories 9. Adjustment of the border in Italy based on ethnicity 10. Autonomy for the peoples of Austria-Hungary for the peoples of the Ottoman Empire and free passage through the Dardanelles. 13. Independence for Poland 14. Formation of League of Nations to guarantee independence for all nations.
    14 Points
  705. Dewey and Parker - Learn by doing - Boy Scouts
    Progressive Education
  706. Free Market Competition has a self regulating behavior of the marketplace. When foreign markets are used for cheap labor, eventually effects of product being made there will raise wages to same as domestic labor. Name what this is called by this free market competition lover.
    Invisible Hand - Adam Smith
  707. Economic problem of having humans who have unlimited wants and needs in a world of limited resources.
  708. Non-physical goods likely to remain scarce by design. Awards generated by honor systems, fame, membership into elite social groups. All value is derived from its scarcity.
    Positional Goods
  709. Legal restrictions which limit the availability of goods such as intellectual property. So goods can't be replicated.
    Artificial Scarcity
  710. Vetoes by Nixon, overrode by Congress in 1973 - checks Presidential power to commit US to armed conflict. President must notify congress w/in 48 hours of committing military action. Forbids armed forces from remaining more than 60 days w/ a further 30 day withdrawal period w/out authorization or declaration of war.
    War Powers Resolution
  711. Reagan - El Salvador & Nicaragua, Clinton - Kosovo, Obama - Libya. Have all disregarded this Act saying it is unconstitutional
    War Powers Resolution
  712. Ambulance cuts off driver at red light. Even though the ambulance has a good reason to run the light, the driver might form the opinion that the ambulance is inconsiderate. - Coined by Lee Ross. Authors did a coin toss to write good or bad pieces about Fidel Castro. This was made by readers assuming authors w/ good views liked Castro - Jones & Harris
    Fundamental Attribution Error or Correspondence Bias
  713. We focus on the person doing something an not the situation that is causing them to do the action
    Actor-Observer Bias
  714. In Psychology, the process by which individuals explain the causes and behavior of events - Fritz Heider - student doesn't turn in homework, teacher assumes student is lazy w/out looking at whole situation
  715. Jacob gets a flat tire. He blames a hole in the road even though it could have been his bad driving.
    Explanatory attribution
  716. w/ 2 or more individuals. Jaimie and boyfriend get into a fight. When she explains to friends, she puts herself in the more positive light.
    Interpersonal attribution
  717. Western cultures. Value individuals, personal goals and independence. Most likely to make fundamental attribution error. Attribute success to eternal factors and failure to external factors.
    Individualist Cultures
  718. Cultures that see individuals as families tribes, work units, nations. Value conformity over independence. Asian & native Americans, and African societies. Engage in self-serving bias or self effacing bias - attributing success to external factors and blaming failures on internal factors (the individual)
    Collectivist Cultures
  719. attributing success to external factors and blaming failures on internal factors (the individual)
    self-serving bias or self effacing bias (asian cultures)
  720. What were the three R's of the New Deal?
    Relief, Recovery, Reform
  721. In the past three months, how often have you read about cultures different from your own (e.g., ethnographies, National Geographic)?
    Colombian - VisitMedellin.com, Spanish - Wikitravel.com, Republic of the Congo - BBCnews.com, Taiwan - www.culture.tw
  722. During the last five years, how many times have you been nominated for a leadership position?
    Speaker for the group - traveling Peru, Planner for next month's travel - SE Asia
  723. During the last year, how often have you volunteered to complete a task you knew would be tedious?
    CELTA in Colombia, Took the FSOT, Wrote a book
  724. How likely have you been to keep up with the latest developments in technology?
    • Samsung Galaxy MP3
    • Self-Driving Cars
  725. During the last year, how many presentations have you made to groups of 10 or more people?
    Present Continuous - Teaching English Class, Emotions - Teaching English Class, Prepositions of Movement - Teaching English Class, Film Genres - Teaching English Class
  726. How often have you been asked to summarize complex written material?
    Psychology flashcards for the FSOT, In class for students who are learning English
  727. When in a group, how often have you made a suggestion that defused a potential conflict?
  728. An intergovernmental treaty alliance thats member states agree to mutual defense in response to an attack by an external party. Headquarters in Brussels, Belgium. 70% of world's defense spending. The September 2001 attacks signalled the only occasion in NATO's history that Article 5 of the North Atlantic treaty has been invoked as an attack on all members.
    NATO - North Atlantic Treaty Organization
  729. A federal statute that set criminal penalties for advocating the overthrow of the U.S. government and required all non-citizen adults residents to register with the government.
    Smith Act or Alien Registration Act of 1940
  730. A group of people who clandestinely undermine a larger group, such as a nation, from within. An example is a group of secret sympathizers of an enemy that are in sabotage within military defense lines, or a country's borders.
    Fifth Column
  731. A mutual defense treaty btwn eight communist states of Central and Eastern Europe in existence during the Cold War. A Soviet reaction to the integration of West Germany into NATO in 1955.
    Warsaw Pact
  732. Attributing behavior to a person's qualities w/out taking sufficient account of their circumstances.
    Fundamental Attribution Error
  733. Taking credit for successes but no blame for failures.
    Self-serving bias error
  734. Tendency to blame external causes for one's own problems while faulting other people for theirs.
    Actor-observer error
  735. Who wrote Anti-Federalist Letters from a farmer?
  736. Clinton, Yates, Langsing - Their writings provoked the Federalist papers to be written
    NY Anit-Federalists
  737. "I would rather cut off my right hand than sign." Anti-Federalist
    George Mason
  738. French political philosopher who wrote 'The Spirit of the Laws'
  739. A republic that combines aristocracy with some democracy by taking considerable power from the moral elite and giving it to the populace (majority).
    Mixed Regime
  740. Name of farmers at the time of the Constitution
  741. This man ran the Federalist Party