December 1, 2015: Warm Up 1. The gov't collects taxes from both businesses and individuals in economic flow. 2. The gov't uses what they collect to

Transcription

1 December 1, 2015: Warm Up 1. The gov't collects taxes from both businesses and individuals in economic flow. 2. The gov't uses what they collect to create public goods and services. 3. Businesses and households use what the gov't creates free of charge. 4. An example of a public good/service is school. 5/6 Periods: Journals/Warm Ups Thursday 3/4 Periods: Journals/Warm Ups Friday

2 December 2, 2015: Warm Up 1. The gov't promotes competition by supporting business startups, engaging in global trade, and preventing trusts. 2. Gov't agencies specialize on one issue to protect consumers. 3. The three examples from questions two are the FCC, the EPA, and the FTC. 4. The three ways the gov't pays for public goods/services is taxes, fees, and borrowed funds. 5/6 Periods: Journals/Warm Ups Thursday 3/4 Periods: Journals/Warm Ups Friday

3 December 3, 2015: Warm Up 1. The gov't influences the economy by taxing, borrowing, and spending money. 2. If the gov't borrows or taxes more, then private spending will decrease. 3. If the gov't spends less, then employment, demand, and production will go down and taxes will be lower. 4. If the gov't borrows less, then private borrowing will increase. 5/6 Periods: Journals/Warm Ups Today 3/4 Periods: Journals/Warm Ups Friday

4

5

6 December 4, 2015: Warm Up 1. The Federal Reserve is the central or "boss" bank. 2. If the FED wants to grow the economy, it has to increase the money supply. 3. Gov't agencies offer consumer protection and laws allow consumers to take legal action if necessary. 4. If the FED wants to slow the economy, it can sell gov't securities and raise discount and reserve rates. 3/4 Periods: Journals/Warm Ups Today Foldable Quiz: Monday

7 December 7, 2015: Warm Up 1. Anything that is created by the gov't and accepted as payment is considered money. 2. The 3 forms of money are Federal Reserve Notes, coins, and debit cards. 3. Credit cards are not a form of payment. 4. Money has value because people have confidence in it. Foldable Quiz: Monday Test on Purple Notes: Friday

8 Row 1: 1-5 Row 2: 6-10 Row 3: Row 4: Row 5: Mr. McKinney's Resource Page: Download "Unit 8 Study Guide" and "Benchmark Two SG"

9 December 8, 2015: Warm Up 1. Anything the gov't provides for many people is considered a public good or service. 2. If the gov't wants to spend more, it has to raise taxes. 3. If the FED wants the economy to grow, it must increase the money supply through decreasing reserve and discount rates. 4. If the government wants the economy to grow, it must borrow and tax less. Test on Purple Notes: Friday

10 December 10, 2015: Warm Up 1. Discount rates, reserve rates, and money supply are all thing the Fed can use to influence the economy. 2. Taxes, borrowing, and spending are all things the gov't can do to influence the economy. 3. If the gov't wants to provide more public goods and services, it will have to raise taxes. 4. If the gov't wants the private and business spending to increase, it can lower taxes. Test on Purple Notes: Tomorrow Benchmark: Wednesday Missing Work: Wednesday

11 December 11, 2015: Warm Up 1. Gov't agencies protect consumers and citizens, along with negotiated contracts, under the law. 2. If the the Federal Reserve raised the discount and reserve rates, then the economy will slow down. 3. If the Gov't lowers taxes and borrowing, then private spending will increase. 4. Federal Reserve Notes, coins, checks/debit cards are all forms of money. Benchmark: Wednesday Missing Work: Wednesday

12 December 14, 2015: Warm Up 1. The gov't taxes, borrows, and spends to influence the economy. 2. Gov't agencies are responsible for protecting public health and safety. 3. If the FED lowers discount and reserve rates, then the economy will grow. 4. Whenever the gov't spends more, then demand/ production/employment increase. Benchmark: Wednesday Missing Work: Wednesday

13 December 15, 2015: Warm Up 1. In the free market economy, products succeed or fail due to consumer sovereignty. 2. In the free market economy, people are motivated to make a profit. 3. What will be produced? Who will produce it? For whom will it be produced? 4. Technology lowers the cost of production. Benchmark: Wednesday Missing Work: Wednesday

14 December 16, 2015: Warm Up 1. House holds sell resources and businesses sell goods/ services in economic flow. 2. Banks use interest to encourage deposits, and use deposits to make loans. 3. Technology lowers the cost of production, while trade lowers the cost of goods/services and creates jobs. 4. Corporations act as a "legal person" and have limited liability. Benchmark: Today Missing Work: Today

15 January 6, 2016: Warm Up 1. In a democracy, the people rule. 2. We elect government officials to govern on our behalf in a representative government. 3. Government is only so powerful, meaning it is limited. 4. No one is above the law under the rule of law. 5. All power comes from the people with consent of the governed. Foldable Quiz Friday Current Event: 1/29

16 January 8, 2016: Warm Up 1. The United States has a federal system of government. 2. There are three levels of government: national, state, and local. 3. The order of levels from the most powerful to the least powerful is national, state, and local. 4. The order of levels from the most to the least responsibilities is local, state, and federal. Foldable Quiz Today Test: Tuesday Current Event: 1/29

17 January 11, 2016: Warm Up 1. The levels of government from weakest to strongest are local > state > federal. 2. The national gov't regulates commerce and the common defense. 3. The legislative branch writes the laws and approves budgets. 4. The judicial branch manages the courts. Test: Tomorrow Assembly 1st Exp. Current Event: 1/29

18 January 12, 2016: Warm Up 1. The system that separates gov't into three separate levels is called federalism. National State Local 1. Common Defense 2. Educate children 3. Promote health/safety 4. Regulate land 5. Promote welfare 6. Foreign policy 7. Commerce 8. Levy taxes 9. Enforce laws (state/local) Current Event: 1/29

19 January 15, 2016: Warm Up 1. A sheriff is elected to serve as the leader of a local police department. 2. The treasurer collect taxes, while the comm. of rev. charges taxes. 3. The town council writes laws for VA towns, can select a mayor to enforce the laws. 4. The two units of local gov't we haven't mentioned yet are cities and counties. Current Event: 1/29

20 January 19, 2016: Warm Up 1. The local government is divided into three branches. 2. The judicial branch is made up of the courts. 3. The mayor leads the executive branch for towns and cities, but not counties. 4. The legislative branch for counties is the Board of Supervisors, but not for towns or cities. Unit 9 Test Friday or next day after... Current Event: 1/29

21 January 20, 2016: Warm Up 1. Not all towns, cities, and counties have the same powers. 2. Each city in Virginia has it's own charter, or constitution. 3. In the county, the Board of Supervisors writes new laws, called ordinances in local government. 4. One difference between mayors and managers is mayors are appointed or elected, but managers are hired. Unit 9 Test Friday or next day after... (Also Brochures and Cities are due) Current Event: 1/29

22 January 28, 2016: Warm Up 1. In each VA city, the city council writes ordinances, or laws, that apply to its needs. 2. In towns and cities, mayors lead the executive branch, which enforces the laws proposes budgets. 3. Each city has its own charter or constitution. 4. The legislative branch adopts budgets. Brochures: Due today Unit 9 Test Tomorrow Cities are due Monday Current Event: 2/5