Transcript Civics Core 100, Goal 9

Civics Core 100, Goal 9
Goal 9: The learner will analyze
factors influencing the United States
economy.
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People and nations all over the world now
depend on one another for many goods and
services
TRADE
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The economy grows over time through
alternating intervals of growth and decline called
the business cycle
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Environmental Protection (EPA)
Citizens’ safety (OSHA- workplace protection,
CPSC- consumer protection)
Affirmative Action
Labor disputes
Deregulation
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Facts, data, etc. that show the present and/or future
health of the economy
GDP- total value of all final goods and services
produced in an economy
Per Capita GDP- calculates number of goods produced
per person; divide GDP by population
Standard of Living- level of economic prosperity at
which people live
Consumer Price Index- measures monthly changes in
costs of goods and services typically purchased by
consumers
Stock Market- bull market= rising, bear market= falling
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Movement of people from one location in a
country to another
People are leaving the Rust Belt and the Frost
Belt to move to the Sun Belt states
Silicon Valley in California is the hub of the US
computer industry
Research Triangle Park in NC is a prominent
high tech research and development center
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European Union (EU): org of independent
European nations
North American Free Trade Agreement
(NAFTA): will eventually eliminate all barriers to
trade among US, Canada, and Mexico
World Trade Organization (WTO): oversees
trade among all nations
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Free Trade: reduced barriers on trade
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To increase trade, countries join together with a few
key trading partners to set up zones of free trade
Protectionism: tariffs placed on imports; price of
foreign goods goes up and makes local prices
more competitive
to protect domestic products
 Can lead to trade wars: set up even greater trade
barriers
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Fiscal Policy (Taxing and Spending)
 Decrease taxes= more disposable income,
economic growth
 Increase taxes= slows economy, can be used
to curb inflation
 Progressive Taxes, Regressive Taxes,
Proportional Taxes, Income Taxes, Excise
Taxes, Sales Taxes, etc.
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Changes in government spending or tax policies
Long term economic goals
Important economic tool because of its ability to affect
the total amount of output produced (GDP)
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Controlling of the supply of money and the cost of
borrowing money (credit)
Short term economic goals
The Federal Reserve System can increase or decrease
the supply of money