Econ: 10/19/17 Homework and Notes

October 19, 2017

Copy and answer questions 1-14 on page 266-267 to review Chapter 10.


Chapter 10 – Money and Banking
Section 3- Banking Today

Money Supply
M1: Demand deposits, which are checking accounts. It is a very liquid measure of the money supply, as it contains cash and assets that can quickly be converted to currency.
M2: M1 + time deposits (certificate of deposit or CDs), savings deposits, and non-institutional money-market funds. M2 is a key economic indicator used to forecast inflation.

Function of Banks
• Store and save money – checking, savings, money market, and certificate of deposit accounts.
• Lend Money – loans for cars, personal loans, mortgages. Banks must keep a 10% reserve of total deposit but can lend out the other 90%. This is called fractional reserve banking.
• Credit Cards – unsecured loan to card holder. Banks earn interest on unpaid balance and other fees such as late payment penalty.

Why is credit so important?

What do you need to get a loan or credit card? A good credit history is essential.

And how do you get a good credit history? By getting a loan or a credit card and paying on time.

Life costs more when you can’t access credit.

You pay lower interest for a loan when you have good credit.

Consumers with bad credit pay between 20 percent and 50 percent more in auto insurance premiums than their good-credit neighbors

Today, 70 percent of companies will check credit before they decide to hire a candidate. Larger companies are more likely than small ones to check.

Rental property owners may reject tenant applications with poor credit scores,

Utilities, too, care about credit scores.

Tips for getting a great credit score… pay your bills on time, keep credit card account balances low, and take out new credit only when you need it.


Gov’t: 10/19/17 Homework and Notes

October 19, 2017


1. Complete the information for the Supreme Court case below by using page 306-308.
Due tomorrow for 5 points.

McCulloch v. Maryland



2. Translate the notes posted below…
Due on Monday, 10/23/17 for 10 Points

Chapter 10: Congress

Section 3: The Senate

1. How many Senators are in the Senate?
2. What is the length of a term in the Senate?
6 Years
3. What is the effect of the 17th Amendment on the Senate?
It allowed the voters to pick their Senators.
4. What is the limit on the number of terms that a Senator may serve?
There is no limit.
5. Why is the Senate called a “continuous body”?
It is because that all the seats in the Senate are never up for election at the same time.
6. Why did the framers of the Constitution give senators six-year terms?
They hoped the longer terms would make senators less reactive to popular sentiment. Many of the framers thought that the House, with shorter terms, would be too often swayed by the immediate impact of events.
7. What senator was elected to the most terms?
Robert Byrd. 51 years from 1959-2010
8. According to the Constitution, what two requirements are different for a senator than for a member of the House?
A senator must be 30, not 25. A senator must have been a U.S. citizen for nine years, not seven.

9. What is the effect of the difference in constituencies between senators and House members?

Senators focus on the “big picture” nationally. They are less interested in the concerns of a small locality and more focused on the national picture.
10. The Constitution said that __________ would choose senators.
State legislatures

Chapter 11: The Powers of Congress

Section 2: The Expressed Powers of Money and Commerce

Cornell Notes Questions

1. What are the purposes of taxes?
A tax is a charge levied by government on persons or property to raise money to meet public needs.
Congress does sometimes impose taxes for other purposes as well. The protective tariff is perhaps the oldest example of this point. Although it does bring in some revenue every year, its real goal is to “protect” domestic industry against foreign competition by increasing the cost of foreign goods.
Taxes are also sometimes levied to protect the public health and safety. The Federal Government’s regulation of narcotics is a case in point. Only those who have a proper federal license can legally manufacture, sell, or deal in those drugs—and licensing is a form of taxation.

2. Summarize the limitations that the Constitution has placed on the taxation power of Congress.

(1) Congress may tax only for public purposes, not for private benefit. Article I, Section 8, Clause 1 says that taxes may be levied only “to pay the Debts and provide for the common Defense and general Welfare of the United States….”
(2) Congress may not tax exports. Article I, Section 9, Clause 5 declares “[n]o Tax or Duty shall be laid on Articles exported from any State.” Thus, customs duties (tariffs), which are taxes, can be levied only on goods brought into the country (imports), not on those sent abroad (exports).
(3) Direct taxes must be apportioned among the States, according to their populations:
(4) Article I, Section 8, Clause 1 provides that “all Duties, Imposts and Excises, shall be uniform throughout the United States.” That is, all indirect taxes levied by the Federal Government must be levied at the same rate in every part of the country. These include the federal taxes on gasoline, alcoholic beverages and tobacco products.

3. Give examples for direct tax and indirect tax.
A direct tax is one that must be paid directly to the government by the person on whom it is imposed—for example, a tax on the ownership of land or buildings, or a capitation (head or poll) tax.
An income tax is a direct tax, but it may be laid without regard to population.

As a general rule an indirect tax is one first paid by one person but then passed on to another. It is indirectly paid by that second person. Take, for example, the federal tax on cigarettes. It is paid to the Treasury by the tobacco company, but is then passed on through the wholesaler and retailer to the person who finally buys the cigarettes.

4. How is public debt related to deficit spending?
For decades, the Federal Government has practiced deficit financing. That is, it regularly spends more than it takes in each year—and borrows to make up the difference.

As a result, the public debt rose year to year—to more than $5.5 trillion at the beginning of fiscal year 1999. The public debt is all of the money borrowed by the government over the years and not yet repaid, plus the accumulated interest on that money. The federal debt now (2005) exceeds $7.5 trillion.

5. What are the three major factors that are contributing for the increasing budget deficit since 2001?
(1) a sharp downturn in the nation’s economy that began in late 2000,
(2) major tax cuts pushed by President Bush and enacted by Congress in 2001, 2002, and 2003,
(3) the onset of the global war on terrorism in 2001 and the ongoing conflicts in Afghanistan and Iraq. The shortfall topped a record $413 billion in 2004 and it will certainly exceed that stupendous sum in 2005.

6. What is the significance of the Gibbons v. Ogden case?
The Court’s ruling was widely popular at the time because it dealt a death blow to steamboat monopolies. It rejected Ogden’s argument that “commerce” should be defined narrowly, as simply “traffic” or the mere buying and selling of goods. Instead, it read the Commerce Clause in very broad terms:
“Commerce undoubtedly is traffic, but it is something more—it is intercourse. It describes the commercial intercourse between nations, and parts of nations, in all its branches, and is regulated by prescribing rules for carrying on that intercourse.”
—Chief Justice John Marshall

7. Give three examples of how Congress uses its Commerce Power.
Regulating commerce with foreign powers and between states.
Establish the federal minimum wage.
Preventing monopolies from forming.
Prohibit discrimination to public places.

8. What are the limits of congressional commerce power?
In more specific terms, the Constitution places four explicit limits on the use of the commerce power. Congress
(1) cannot tax exports, Article I, Section 9, Clause 5;
(2) cannot favor the ports of one State over those of any other in the regulation of trade, Article I, Section 9, Clause 6;
(3) cannot require that “Vessels bound to, or from, one State, be obliged to enter, clear or pay Duties in another,” Article I, Section 9, Clause 6; and, finally,
(4) could not interfere with the slave trade, at least not until the year 1808, Article I, Section 9, Clause 1. This last limitation, part of the curious slave-trade compromise at the Constitutional Convention, has been a dead letter for nearly two centuries now.

9. Why did the nation need a uniform system of “hard money” that can be used a legal tender?
So it can provide the nation with a uniform, stable monetary system that will be universally accepted by everyone in the country.

10. What is the purpose of a bankruptcy filing? Who has the power to regulate bankruptcy?
Bankruptcy is the legal proceeding in which the bankrupt’s assets—however much or little they may be—are distributed among those to whom a debt is owed. That proceeding frees the bankrupt from legal responsibility for debts acquired before bankruptcy.

The States and the National Government have concurrent power to regulate bankruptcy. Today federal bankruptcy law is so broad that it all but excludes the States from the field. Nearly all bankruptcy cases are heard now in federal district courts.

Chapter 11: Congressional Powers
Section 3: Other Expressed Powers

Foreign Relations
Foreign relation powers are shared between Congress and President.
Congress may act on matters affecting the security of the nation, such as immigration.

War Powers
The President is the commander in chief of the armed forces.
Only Congress may declare war, raise/support armies, provide/maintain a navy, and make rules pertaining to governance of naval forces.
The War Powers Resolution of 1973 allows Congress the power to restrict the use of American forces where state of war doesn’t exist.

Other Expressed Powers
The congress has the power to control naturalization, the process by which citizens of one country become citizens of another.
Another power it has is the control over postal services. Congress has established a number of crimes based on its postal powers such prohibiting the mailing of dangerous items such as firecrackers.

Weights and Measures
A standard scale of weights and measures in order to keep an uniform gauge of time, distance, area, weight, and even volume.

Copyrights and Patents
Congress has the power to grant copyrights and patents.
A copyright is the exclusive right of an author to reproduce, publish, and sell his or her creative work for the live of the author plus 70 years.
A patent grants a person the sole right to manufacture, and sell use any new useful improvement for up to twenty years.

Power over Territories and Other Areas
The Constitution gives Congress the power to acquire and manage federal territories such as Puerto Rico, Guam, and the Virgin Islands.
In addition, it covers military and naval bases, arsenals, post offices, prisons, parks, forest preserves, and others.
The Government can acquire properties through gifts or purchases, known as eminent domain.

Judicial Powers
Congress has the ability to create federal courts below the Supreme Court and the federal judiciary.
It can also define federal crimes and punishments for violators. It has established more than one hundred federal crimes

Money Video Project

October 13, 2017

Points: 80

Due: Friday, 10/27/17

Create a video to educate your classmates about ALL uses and characteristics of money along with the elements of inflation and poverty. It can be a music video, skit or a documentary type short film.

The video must meet the following requirements…

  • Be recorded in landscape (horizontal) orientation and minimum of 480p resolution to maximum of 720p resolution.
  • Length of video: 3-6 minutes
  • Contain speech that is audible and intelligible. You might want to consider adding caption to enhance intelligibility.
  • Upload the completed video onto YouTube.

Share the video with me through my email:

In the title of the email, include the following information in this order…
Title: Money Project
All members’ first and last names.

10/11/17 Gov’t Homework

October 11, 2017

Complete 2 pages of Cornell notes for Chapter 9-3: The Senate from page 275 to 278.

The question (left) column must be 3 inches or less.

Here is a website with directions for completing your Cornell notes if you need some help…
How to Take Cornell Notes

How to Take Cornell Notes

The Cornell method of taking notes was developed by Dr. Walter Pauk of Cornell University. It is a widely used s…

10/10/17 Gov’t Homework and Notes

October 10, 2017

Print the notes below and translate the notes by handwriting.

Chapter 10: Congress
Section 1: The National Legislature

The U.S. Congress is a bicameral legislature (two chambers).
The upper chamber: Senate
The lower chamber: The House of Representatives.
1. Historical-The British Parliament had consisted of two houses since the 1300s.
2. Practical-The Framers had to create a two-chambered body to settle the conflict between the Virginia and the New Jersey Plans at Philadelphia in 1787.
3. Theoretical – The Framers favored a bicameral Congress in order that one house might act as a check on the other.
Term of the Congress
Starts on January 3rd of odd numbered years and lasts for 2 years.
Each term is divided into two sessions.
The duration of each session is one year, usually from January to November or December.
The constitution had originally specified that for every 30,000 persons, there would be one representative in the House.
But with the limit of 435 representatives by the Reapportionment Act, now each representative represents about 588,000 people.
There are seven states that only have one Representative in the House (Delaware, Montana, North Dakota, Vermont, South Dakota, Alaska, andWyoming). California has 53, making about 12% of the House from California.
What is a “Constituent”?
You are a constituent. Who represents you in the House and the Senate is determined by where you live. The people that a Congressman/woman or a Senator are elected to represent are called their constituents, or their “constituency.”
How much do Representatives and Senators get paid?
The current salary is $155,100. The only exceptions are the Speaker, who makes over $194,000 and the Majority and Minority Leaders who make approximately $167,000.
The average annual salary in the Washington, D.C. area is $49,420 (2002). The average salary of a CEO in Washington, D.C. is $98,030 (2002).

Critical Thinking:

1. What is most important function that is performed by Congress?
Initiate and approve new laws.
2. What is the relationship between congressional terms and sessions?
There are two years in one term, but each term is divided into two sessions.
For 2006, Congress is in its 109th term, 2nd session.
For 2009, Congress is in its 111th term, 1st session.
3. Why would some describe the Senate as undemocratic?
Because the Senate is the only legislative body in the United States that is not built on the principle of representation according to population.
Most senators represent constituencies that are more white, rural, and conservative than would be the case if seats were allocated by general population.
Many of the chamber’s most powerful members regularly come from the smaller States.
4. What special powers does the president have regarding the sessions in Congress?
Article II, Section 3 of the Constitution does give the President the power to prorogue—end, discontinue—a session, but only when the two houses cannot agree on a date for adjournment. No President has ever had to use that power.
The President may call Congress into special session—a meeting to deal with some emergency situation.

Chapter 10: Congress
Section 2: The House of Representatives
Topic Summaries

Topic: Size and Term/Reapportionment

The House of Representatives has 435 members; each member serves a two year term. The number of seats of the House of Representatives is distributed, apportioned, depending on the population of the state. Each state has to have one representative. There is no Constitutional limit to how many terms a member can serve. According to Article I of the Constitution, Congress is to reapportion, or redistribute, the seats of the House every ten years. After the 1910 census, the seats in the House of Representatives hit the number of 435. In order to clarify the reapportion process, Congress passed the Reapportionment Act of 1929, which states the permanent size of the House is 435 seats, census bureau is to determine how many seats is to have, the President send the Bureau’s plan to Congress, and if the House does not reject the plan within 60 days, it becomes effective.

Topic: Congressional Elections / Date / Off-Year Elections / Districts

Congressional elections are held on the same day in every state. Since 1872 Congress has required that those elections be held on the Tuesday following the first Monday in November. Off- year elections are congressional elections that occur in the nonpresidential years. There are 428 congressional districts within the other 43 states. Most States quickly set up single- member districts. Several States used the general tickets system, however. Under that arrangement, all of the States seats were filled at- large- that is, elected from the State as a whole, rather than from a particular district. In 1842 law made each State legislature responsible for drawing any congressional districts within its own State. It also required that each congressional district be made up of “contiguous territory,” meaning that it must be all one piece. In 1901 it further directed that all the districts be of “compact territory”- a comparatively small area.

Topic: Gerrymandering / Wesberry v. Sanders, 1964

Gerrymandering is basically shaping the district lines for the advantage of one group. It is widespread throughout the nation today in two forms. First, it is to relocate a group of opposition into a few districts. This would make the opposition have no control over the other districts and allowing the dominant party to be safe in those districts. Secondly, gerrymandering occurs when the opposition is distributed throughout all the districts so the opposition is weak. The case of Wesberry v. Sanders is about Georgia gerrymandering so much that it became unconstitutional. This decision reinforced the ideology of “one man one vote”. Gerrymandering based on race is in violation of the 15th Amendment. The decision of Bush v Vera in 1996 ruled these “majority and minority” districts to be unconstitutional and that race cannot be used to draw district lines in order to send more African Americans or Latinos to Congress.

Topic: Qualifications for House members; Formal/Informal Qualifications

There are two types of qualifications for house members. They are formal and informal qualifications. For a formal qualification, the constitution says that a member of the house must be at least 25 years of age, must have been a citizen of the united states for at least seven years, and must be a inhabitant of the state from which he or she is elected. The house may refuse to seat a member elect by majority vote. it may also punish its members for disorderly behavior by majority vote, and with the concurrence of two thirds, expel a member. Only a few members have resigned to avoid certain expulsion. The other type of qualification is informal qualification. They include the candidate’s vote-getting abilities, which are such factors as party identification, name familiarity, gender, ethnicity, and political experience.

Econ: How to customize a time frame for your stock chart

October 5, 2017

Use this website to get your customized stock chart…

MarketWatch: Stock Market News – Financial News


MarketWatch: Stock Market News – Financial News

MarketWatch provides the latest stock market, financial and business news. Get stock market quotes, personal fin…

How do I chart a custom time frame?

To enter a custom time frame in Advanced Charts, check the box labeled “Custom Time” in the “Time:” section. When the box is checked, the page will reload and present two boxes to enter a start and end date for your chart. Enter the dates in dd/mm/yyyy format.

To enter a custom time frame in JavaCharts, select a time frame that is longer than the desired custom chart. Move your mouse over the chart and click-and-hold the left mouse button while dragging the mouse horizontally to the left or right. The timeframe in the upper right corner of the chart will change depending on where you move the mouse. Once you have decided where you would like to zoom in, release the mouse button and the chart will refresh with the custom timeframe.

Please note: The “Draw Trendline” box must not be checked when selecting a custom time frame in JavaCharts.

“My Stock Portfolio” Project : Due on October 9th, 2017 (100 Points)

October 5, 2017

“My Stock Portfolio” Google Slides Directions:

A. Cover slide w/ the title “Our Stock Portfolio”
• Include illustrations, names, date, and period on the cover slide.

B. Portfolio Valuation Section (make a chart)
• Name of Companies
• Symbol
• Date of Purchase : 09/08/17
• Purchase Price
• Number of Shares
• The closing price as of 10/06/17
• Total stock value for each company as of 10/06/17
• Total Portfolio Value = Total Value of Stock + Surplus Cash

C. Company Information on the Best and Worst Performing Companies (at least 4 slides per company)
• Name / Logo
• Brief history/information of the company
• Why did I buy the stock?
• Why did this stock perform the way it did?
Cite two examples from the news to support your conclusion. Remember to share your news source with us.
• Daily price record chart (date and closing price).
• Graph demonstrating the fluctuation of the stock from 09/08/17 – 10/06/2017. Use for this task. Just search for the company’s stock and adjust the range of date to get the graph. Use the screen shot of the graph for the presentation.

D. Reflection (One reflection per group member)
If I were to invest $10,000 of my own money…
a. What kind of companies would I invest in?
b. What would I do differently the second time around?
c. What have I learned based on this experience?

• Points awarded: presentation (100 points)
• Extra credit will be offered for any relevant and appropriate multimedia material.
• Use the Internet for reference purposes only, do not plagiarize. I will be checking each report for evidence of plagiarism.
• MKHS cheating policy will be enforced.
• The presentation is due on Monday, 10/09/2017

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 to and remember to include your period, names and topic in the subject field.