Econ: 12/08/17 Homework

December 8, 2017

Chapter 15 – Fiscal Policy
Section 3 – Budget Deficits and the National Debt
Decide whether each sentence is true or false.
Provide an explanation statement for your answer.

1. The federal government usually spends more money than it takes in most of the time.
2. An economic downturn can cause a budget deficit.
3. Creating money is one of the best ways to deal with a deficit.
4. When measuring the national debt, one must also consider debt as a percentage of the national expenditure.
5. Money used to service the national debt can take away from essential public services.
6. Keynesian economists see national debt as beneficial to the economy.
7. Baby boomers will slow down the national debt accumulation.


Economics Final Exam Review

December 8, 2017


  • Complete a set of detailed notes for all topics listed below.
  • One page should contain a maximum of 8 items. You should have at least 7 pages of notes.
  • Due on the day of the final exam for 50 points.

Important Topics:

1. entrepreneur
2. all factors of production (land, labor, capital)
3. efficient economy
4. law of demand, law of supply
5. shift of the demand curve
6. elasticity of demand
7. elasticity of supply
8. demand schedule
9. ceteris paribus
10. total revenue
11. characteristics of centrally planned economy and free market economy
12. mixed economy
13. traditional economy
14. Karl Marx
15. Adam Smith
16. Joseph Stalin
17. Vladmir Lenin
18. government subsidies
19. various types of monopolies
20. price discrimination
21. deregulation of industry (its cause and effect)
22. patent
23. effects of technology on the economy
24. cartel
25. M1 and M2 money
26. fiat money
27. financial intermediary
28. components of a bond
29. diversification
30. liquidity
31. capital deepening
32. distribution of income in the United States
33. Dow Jones Industrial Average and S&P 500 Index
34. GDP
35. income approach vs. expenditure approach
36. stock split
37. dividend
38. income stock
39. growth stock
40. common stock
41. phases of the business cycle (peak, contraction, trough, expansion)
42. Certificate of Deposit
43. mutual fund
44. characteristics and functions of money
45. inflation (cause and effect)
46. labor unions and what they do for workers
47. effects of a growing population on the economy
48. Medicare
49. inferior good vs. normal good
50. characteristics of the Chinese economy
51. opportunity cost
52. trade off
53. production possibilities frontier
54. scarcity
55. guns or butter

Gov’t Final Exam Review

December 8, 2017


1 1,2,3
3 1,2
4 1,2,3
5 1,2,3,4
6 1,2,3,
7 1,3
8 3
10 1,2,3
11 2,3,4
12 3,4
13 1,2,5
14 2,3,4
18 3
19 1,2,3,4
20 1,2,3,4

Government Final Review:

  • Complete a set of detailed notes along with translation for all topics listed below.
  • One page should contain a maximum of 7 items. You should have at least 7 pages of notes.
  • Due on the day of the final exam for 50 points.

1. Unitary system
2. Federal system
3. Jurisdiction of federal court and Supreme Court
4. Classification of government: oligarchy, autocracy, democracy
5. Federalist vs. Antifederalist
6. Preamble of the Constitution
7. Capitalism, socialism, communism, and command economy
8. Concurrent resolution and joint resolution
9. How a bill becomes a law
10. Adam Smith
11. John Locke
12. Karl Marx
13. Electoral College: its flaws, proposed reforms
14. Articles of Confederation and its weaknesses
15. Structure of Congress
16. Formal qualifications for representatives and senators, length of term and term limits
17. Checks and Balances and examples
18. Separation of Powers
19. Politics
20. Formal qualifications for presidency, term and limit
21. Powers of Congress and President
22. Direct democracy vs. Representative democracy
23. Opinions of the Supreme Court: unanimous, concurring, dissenting, majority
24. Cause and effect of the Intolerable Acts
25. Magna Carta
26. Amendment 1
27. Amendment 2
28. Amendment 3
29. Amendment 4
30. Amendment 5
31. Amendment 6
32. Amendment 7
33. Amendment 8
34. Amendment 9
35. Amendment 10
36. Amendment 14 and Due Process
37. Slander vs. Libel
38. Constituent
39. Presidential succession
40. Separate-but-equal doctrine
41. Vice president and his duties
42. Impeachment process
43. Subpoena
44. Political parties
45. President’s judicial powers
46. Line item veto
47. Different forms of mass media
48. Factors that influence political party selection
49. Minor political parties
50. Extradition
51. Problems of the national government after the revolutionary war

Economics: Personal Finance Project

December 7, 2017

Present the information from your topic in a 4-6 minute Google Slides ( minimum of 12 slides) presentation.

  • You must provide a real life example relevant to your topic. For instance, if your topic is “Renting an Apartment”, then you need to get on the Internet to find apartments for rent in the San Gabriel Valley area to demonstrate the typical apartment that you could rent in the price range that is appropriate for your budget.

Tips for Google Slides
• Use size 24 font as the minimum.
• Don’t copy and paste.
• Eliminate any spelling and grammatical errors, a point will be deducted for every error present in the presentation.
• Learn the pronunciation of every word. You have control of the content in your presentation, so do not include a word that you cannot enunciate properly.
• Use text that provides contrast to the background.
• Use appropriate pictures for EVERY slide.
• Use bullets to break up long paragraphs.
• Do not copy and paste
• Share your unlocked presentation with me by sending an email to and remember to include your period, names and topic in the subject field.

This project is worth 100 points.
Due Date: Monday, 12/11/2017

Econ: Chapter 14-3 Notes

December 6, 2017

Chapter 14 – Taxes and Government Spending
Section 3 – Federal Spending

1. What is mandatory spending? What are the programs covered by mandatory spending?
Mandatory Spending – must be done as required by mandate or by law.
Servicing the national debt by paying the interest.
Mostly for entitlement programs such as welfare and social security.
2. What is discretionary spending? What programs are covered by discretionary spending?
Discretionary Spending – where government planners can make choices on how much to spend.
The funds are used for military, education, research, student loans, housing, law enforcement, etc.
It also includes salaries for government employees.
3. Why is social security not a “means-tested” entitlement?
Social Security is not a “means-tested” entitlement because a retired person who has paid into the system is entitled to certain benefits.
4. How old do you have to be to qualify for Medicare? How is Medicare different from Medicaid?
To qualify for Medicare, you must be at least 65 years old.
Medicaid is different from Medicare because its beneficiaries are mostly America’s poorest people.
5. What is the most troubling problem of entitlement spending?
The most troubling problem plaguing entitlement spending is that as time goes on, the costs are rising as people live longer lives. For example, the taxpayer to Medicare recipient ratio will increase from 4:1 in 1995 to 2:1 in 2050.
6. What is the biggest discretionary spending item?
The biggest discretionary spending item is defense.

12/06/17 Homework

December 6, 2017

Copy and answer the questions posted below. Also provide translations.

Chapter 19 – Civil Liberties: First Amendment Freedoms
Section 3- Freedom of Speech and Press

1. Compare libel with slander. Give detailed examples.
2. Why does the government restrict seditious speech?
3. Define prior restraint and how it can be used by the government.
4. How has the Supreme Court usually dealt with prior restraint cases?
5. In what way is picketing symbolic speech?
6. Do you think journalists should have the right to protect their sources? How might this right benefit or harm society?
7. The Constitution makes a particular effort to protect the expression of unpopular views. Why is this important?
8. Do you think even racist or sexist speech and publications should be protected? Explain your answer.

Copy and answer questions 1-11 from page 382-383 to review Chapter 14.

11/28/17 Econ Homework

November 28, 2017

Complete a summary paragraph for your assigned topic on Chapter 14-1.