Welcome to FHS

1. Welcome to FHS Let the Games Begin!!!!! Time to separate the Dogs from the Pups!!!!!! Civics Class Feud

2. According to the picture, what happens with the banks when a “tight money supply” policy goes into affect?

3. According to the picture, what happens with the banks when a “tight money supply” policy goes into affect? Why? Have less money in circulation, because they are putting more in the reserve to raise interest rates

4. What is the main cause for the nations deficit to grow?

5. What is the main cause for the nations deficit to grow? USA spending increases and revenues (money earned ) decreases.

6. According to the graph: What kind of budget did the USA have between 1950-1960?

7. According to the graph: What kind of budget did the USA have between 1950-1960? It was a Balanced Budget

8. What type of tax is the largest form of revenue for the USA government?

9. What type of tax is the largest form of revenue for the USA government? Income Tax

10. What type of tax is Sales Tax?

11. What type of tax is Sales Tax? Regressive Tax

12. According to the cartoon: Who is the borrower?

13. According to the cartoon: Who is the borrower? The government

14. Read the story & answer the question.What is the opportunity cost of John’s decision?John wants to buy a new car. He could either buy a used car for $15,000 and save the $5,000 or buy a new car for $20,000 and spend all of his savings. John decides to buy the new car for $20,000.

15. Read the story & answer the question.What is the opportunity cost of John’s decision?John wants to buy a new car. He could either buy a used car for $15,000 and save the $5,000 or buy a new car for $20,000 and spend all of his savings. John decides to buy the new car for $20,000. Saving $5,000.00

16. If Target decides to decrease videos games to $5.00 per game. What will occur when it comes to supply and demand?

17. If Target decides to decrease videos games to $5.00 per game. What will occur when it comes to supply and demand? an increase in the quantity demanded

18. Read the scenario below and answer the question.In which type of economic system does Jane live?Jane really wants to become a chemist so she applies to college to study chemistry. However, she is not allowed to major in chemistry based on her career aptitude test results. She must major in biology.

19. Read the scenario below and answer the question.In which type of economic system does Jane live?Jane really wants to become a chemist so she applies to college to study chemistry. However, she is not allowed to major in chemistry based on her career aptitude test results. She must major in biology. Command

20. Describe the difference between an price ceiling and price floor.

21. Describe the difference between a price ceiling and price floor. Price Floor: Item has to be sold above the amount, set by the government Price Ceiling: Item has to be sold below the amount, set by the government

22. Where does most of the exchange of products or money happen within a circular flow chart?

23. Where does most of the exchange of products or money happen within a circular flow chart? Businesses Households

24. Which of the following events has no effect on GDP?

25. Which of the following events has no effect on GDP?

26. What is elastic demand?Define and give an example

27. What is elastic demand?Define and give an example quantity demanded of a good or service can change in its price. Coca-Cola

29. More will be sold and Price will decrease

30. According to the Chart:What control over price does perfect competition have?

31. According to the Chart:What control over price does a perfect competition have? None

32. What is the type of monopoly the United States government permits ?Give type and example

33. What is the type of monopoly the United States government permits ?Give type and example Government Monopoly Professional Sports League

34. What 5 reasons might a person find themselves unemployed, under structural unemployment?

35. What 5 reasons might a person find themselves unemployed, under structural unemployment? *Lack of education *New technology *New resources *Changes in demand *Globalization

36. Read the scenarios below and answer the question:How has the economic system of this country changed?In a certain country, decisions regarding production and consumption of goods are based upon customs, beliefs, rituals, and habits. Over time, the economic system changes to one in which production decisions are based on competition and consumer choice.

37. Read the scenarios below and answer the question:How has the economic system of this country changed?In a certain country, decisions regarding production and consumption of goods are based upon customs, beliefs, rituals, and habits. Over time, the economic system changes to one in which production decisions are based on competition and consumer choice. Changed from a traditional economy to a market economy

38. In recent years, the USA has been facing companies outsourcing and moving their factories to other countries.This economic change is mostly due to the region’s

39. In recent years, the USA has been facing companies outsourcing and moving of factories to other countries.This economic change is mostly due to the region’s Inexpensive (cheap) labor

40. Sonia wants to invest $1,000 of her savings. Which 3 investments poses the least risk for her? What 3 investment offer a higher risk?What is changing the risk?

41. Sonia wants to invest $1,000 of her savings. Which 3 investments poses the least risk for her? What 3 investment offer a higher risk?What is changing the risk? Government Bonds Savings Account CD Mutual Fund Stocks Junk/ Corporate Bonds The risker investments deal with the stock market and earnings of a company.

42. Describe a person who falls under the category ofunderemployment.

43. Describe a person who falls under the category ofunderemployment. Someone working part-time, wanting full-time employment Someone holding a job beneath their job skill levels

44. How can a monthly budget help you achieve financial security?

45. How can a monthly budget help you achieve financial security? Increases your financial awareness and helping you distribute your funds more effectively

46. Consumer Bill of RightsThe concept of professional regulation serving the public interest is summarized in the "Consumer Bill of Rights," first articulated by President Kennedy in 1960: The right to safety: to be protected against the marketing of products and services that are hazardous to health or to life.The right to be informed: to be protected against fraudulent, deceitful, or grossly misleading information, advertising, labeling, or other practices, and to be given the facts needed to make informed choices.The right to choose: to have available a variety of products and services at competitive prices.The right to be heard: to be assured that consumer interests will receive full and sympathetic consideration in making government policy, both through the laws passed by legislatures and through regulations passed by administrative bodies.The right to education: to have access to programs and information that help consumers make better marketplace decisions.The right to redress: to work with established mechanisms to have problems corrected and to receive compensation for poor service or for products which do not function properly.What does the Federal Consumer Bill of Rights guarantee consumers?

47. Consumer Bill of RightsThe concept of professional regulation serving the public interest is summarized in the "Consumer Bill of Rights," first articulated by President Kennedy in 1960: The right to safety: to be protected against the marketing of products and services that are hazardous to health or to life.The right to be informed: to be protected against fraudulent, deceitful, or grossly misleading information, advertising, labeling, or other practices, and to be given the facts needed to make informed choices.The right to choose: to have available a variety of products and services at competitive prices.The right to be heard: to be assured that consumer interests will receive full and sympathetic consideration in making government policy, both through the laws passed by legislatures and through regulations passed by administrative bodies.The right to education: to have access to programs and information that help consumers make better marketplace decisions.The right to redress: to work with established mechanisms to have problems corrected and to receive compensation for poor service or for products which do not function properly.What does the Federal Consumer Bill of Rights guarantee consumers? To be informed of any warnings on nonfood items that could lead to potential danger

48. Salary Comparison of Non-Graduatesby Michael Roennevig, Demand Media While going to college isn't right for everybody, numerous studies suggest that degree holders earn more than those without a degree. Data from the Bureau of Labor Statistics shows that workers ages 25 and over with a high school diploma earned a median weekly wage of $638 in 2011, while those with a bachelor's degree earned $1,053. However, the level of education you achieve below college level can also have a significant impact on your earning potential.Women between the ages of 25 and 34 who failed to earn a high school diploma or receive alternative credentials, such as a General Educational Development (GED) certificate, earned a median annual salary of $17,800 in 2010, according to the National Center for Education Statistics. Male high school dropouts ages 25 to 34 earned a median annual wage of $24,000 during that time.Men who graduated from high school with a diploma but passed on the opportunity of going to college earned a median annual salary of $32,800 in 2010, data from the NCES reveals. Women with the same amount of education earned a median annual salary of $25,000.Women and men who spent some time at college but dropped out before being awarded their degree earned median annual wages of $29,500 and $37,900, respectively in 2010. Men with associate's degrees earned only marginally more than male college dropouts from their peer group, earning $39,900. Women with associate's degrees fared better when compared with their female college dropout contemporaries, with a median annual wage of $34,700.As well as having an impact on pay, education also appeared to play a part in dictating which workers were actually employed in 2010, according to the NCES report. Just 44.9 percent of high school dropouts worked full time during the entire year of 2010. Meanwhile, some 57 percent of high school diploma holders and 58.1 percent of those who had benefited from some college education worked full-time for the full year.Who is more likely to be unemployed?What can be learned about pay scales concerning men and women?

49. Salary Comparison of Non-Graduatesby Michael Roennevig, Demand Media While going to college isn't right for everybody, numerous studies suggest that degree holders earn more than those without a degree. Data from the Bureau of Labor Statistics shows that workers ages 25 and over with a high school diploma earned a median weekly wage of $638 in 2011, while those with a bachelor's degree earned $1,053. However, the level of education you achieve below college level can also have a significant impact on your earning potential.Women between the ages of 25 and 34 who failed to earn a high school diploma or receive alternative credentials, such as a General Educational Development (GED) certificate, earned a median annual salary of $17,800 in 2010, according to the National Center for Education Statistics. Male high school dropouts ages 25 to 34 earned a median annual wage of $24,000 during that time.Men who graduated from high school with a diploma but passed on the opportunity of going to college earned a median annual salary of $32,800 in 2010, data from the NCES reveals. Women with the same amount of education earned a median annual salary of $25,000.Women and men who spent some time at college but dropped out before being awarded their degree earned median annual wages of $29,500 and $37,900, respectively in 2010. Men with associate's degrees earned only marginally more than male college dropouts from their peer group, earning $39,900. Women with associate's degrees fared better when compared with their female college dropout contemporaries, with a median annual wage of $34,700.As well as having an impact on pay, education also appeared to play a part in dictating which workers were actually employed in 2010, according to the NCES report. Just 44.9 percent of high school dropouts worked full time during the entire year of 2010. Meanwhile, some 57 percent of high school diploma holders and 58.1 percent of those who had benefited from some college education worked full-time for the full year.Who is more likely to be unemployed?What can be learned about pay scales concerning men and women? HS diploma College educated Women make less $$