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Random odds and ends civics
Terms in this set (199)
An equity instrument. An investment that gives you ownership of a corporation.
A debt instrument. An investment where you lend money to a corporation or govt.
What do you promise in a bond?
An agreed upon repayment plus interest at an agreed upon future date
Issued by corps and govts that are least able to repay. They offer the highest interest rate
Where you go to buy/trade stock
What are the two main stock exchanges?
The NASDAQ and the NYSE
Where is NASDAQ?
Where is the NYSE?
An actual building on Wall Street NY
The ability to understand finance. It more specifically refers to an individual's ability to make informed judgement of the use of their money
Knowing how much money you make
Compensation other than money
earned/unearned income, passive income
knowing where you spend your $
can change month to month
Time deposit/ certificate of deposit
in exchange for you agreeing to keep $ in the bank for an extended period of time, the bank gives you a higher interest rate than a regular savings account
What is the positive side of a CD?
What is the down side of a CD
your money is unavailable, there is a penalty if you withdraw the money early
cost of the insurance policy. You can cover it using:
covers you for the whole year
insured person's request for payment from insurance company
the portion of any claim that isn't covered by the insurance provider. it is the amount of expenses that must be paid out of pocket before an insurer will cover any expenses
Annual percentage rate (APR)
the interest rate charged on credit card balance
the max amount of outstanding credit that can be charged to a credit card account
credit card bills have a due date, if your payment doesn't arrive, and get posted by the due date, you will be charged a late fee
the lowest amount of $ that you are required to pay on your credit card statement each month
What is usually the minimum payment?
2-5% of your balance
fixed rate (fixed APR)
an annual % rate that doesn't change throughout the year
variable rate (APR)
can change change, goes up
in the beginning the rate is very low, later on it goes up
the period of time that you have to pay off all of bill to avoid interest changes
What is the variable rate depended on?
your payment history and performance
when the credit company jacks up your interest rate because of your poor payment history, this can be anything not just your credit card
The higher the deductible...
the lower the premium
What are the 5 types of insurance?
protects your family from loss of income
protects your property, it replaces or repairs damage, vandalism, and loss from theft
protects your house, contents, and provides liability coverage which protects the homeowners from lawsuits if someone is injured on their property
generally same as homeowners, but the building isn't covered
*usually provided, or in part, by your employer
a convenient way to spend your own $. When you run out of money you won't be able to spend any more on that particular card
a very convenient loan. Of course, you must pay the loan back with very high interest
annual (yearly) fee
charged by a credit card company each year for use of a credit card. Separate fee for the interest
a loan that you take out in order to buy real estate
positive cash flow
the rent is greater than the total tax, mortgage, and repair, for the owner
a measurement of the overall stock market increase or decrease in one day
Dow Jones industrial average
uses 30 companies
uses 500 companies
uses the 5000 largest publicly traded corps
has just the NASDAQ stock, which is about a 1000
the major Japanese stock index
when there is more revenue than expenditures
same amount of revenue and expenditures
when there is less revenue than expenditure
the govt sets an excise tax on things they don't want people to necessarily buy. this generates revenue and discourages buyers
Tax on imports, govt wants us to buy from the US, so it makes foreign products more expensive
power of the purse
*the legislative branch has this
*the ability to spend our money
rich pay more of a percentage rate
poor pay more of a percentage rate than the rich
everyone has the same tax rate
taxes that you pay on goods you bought out of a foreign country. You usually have to buy stuff that the combined value is over $200 to be taxed
govt makes all the decisions and owns all property
the people make all the decisions and own all property
the people and govt make decisions and own property
Securities and exchange commission (SEC)
makes and enforces rules that regulate the stock market
buying on margin
borrowing $ in order to buy stock
*selling a product at a high price
*you are sacrificing high sales volume for the high price
When do you cream or skim products?
in the early stages of the product
*set prices artificially high
*may give customers the impression that your products are the best, such as the highest quality and exclusiveness
*sell selected products at a loss
*brings people to your store, where they may buy other high profit margin products
What products are usually loss leaders?
Where are loss leaders placed?
in the back of the store
when you base your price on those of your competitions
cost plus pricing
calculate price by adding a profit margin to your production cost
make customers think prices are lower than they really are
*sets prices artificially low
*attempt to drive competitors out of the market
*raise prices later
*there will always be other competition
*short term plan to win market share
*a percentage of customers in a certain area
*once you 'win' customers, prices slowly creep up to normal levels
Department of the Treasury
Department of Defense
Department of Justice
Attorney General Eric Holder
Department of the Interior
Department of Agriculture
Department of Commerce
Department of Labor
Department of Health and Human Services
Department of Housing and Urban Development
Department of Transportation
Department of Energy
Department of Education
Department of Veterans Affairs
Department of Homeland Security
What is the purpose of the Executive branch?
to enforce (carry out) laws
Who are the members of the executive branch?
*President (Barack Obama, Illinois)
*VP (Joseph Biden, Delaware
What was Obama before he was president?
What are the qualifications to be president or VP?
*must be a natural born citizen of the US
*must be at least 35
*must have been a permanent resident in the US for at least 14 years
What are the Cabinet members?
*the presidents advisers
*help president do job
Who is the head of the United States Department of State?
What does the United States Department of State do?
responsible for international relations
Who is the head of the Department of Treasury?
What does the Department of Treasury do?
prints and mints all paper currency and coins in circulation through the Bureau of Engraving and Printing
Who is the head of the Department of Defense?
What does the Department of Defense do?
national security and the US armed forces
Who is the head of the Department of Justice?
Attorney General Eric Holder
Who is the head of the Department of the Interior?
What does the Department of the Interior do?
respsonsible for the management and conservation of most federal land and natural resources.
What is the Department of the Interior mainly known for?
National Park Service
Who is the head of the Department of Agriculture?
What does the Department of Agriculture do?
*making US policy on farming, agriculture, and food
*assure food safety, protect natural resources, and end hunger in the US
What does the Department of Commerce do?
*promote economic growth
*improve living standards for all Americans
*gathering economic and demographic data
*national Weather Service
Who is the head of the Department of Commerce?
What does the Department of Labor do?
*wage and hour standards
Who is the head of the Department of Labor?
What does the Department of Health and Human Services do?
*has the goal of protect the health of all Americans
*provide essential human services
What is the motto of the Department of Health and Human Services?
Improving the health, safety, and well-being of America
What are the two places the Department of Health and Human Services have?
*Center for Disease Control
*Food and Drug Administration
Who is the head of the Department of Health and Human Services?
What does the Department of Housing and Urban Development do?
*mortgage assistance to one in need
*helps eradicate slums
Who is the head of the Department of Housing and Urban Development?
What does the Department of Transportation do?
Makes anythings used for transportation such as ships, highways, planes, and trains
Who is the head of the Department of Transportation?
Who is the head of the Department of Energy?
What does the Department of Energy do?
Handles nuclear energy and waste
Makes rules regarding use of energy
What does the Department of Education do?
*collects data on US schools
*enforce federal education laws regarding privacy and civil rights
What does the Department of Education not do?
establish schools or colleges
Who is the head of the Department of Education?
What is and what does the Department of Veterans Affairs?
*it is a government-run military veteran benefit system
*provide benefits such as disability compensation, pension, education, home loans, life insurance
Who is the Head of the Department of Veterans Affairs?
What does the Department of Homeland Security do?
it has the responsibility of protecting the territory of the US and protect from terrorists attacks, man-made accidents, and natural disasters
When was the Department of Homeland Security established?
What are the agencies in Homeland Security?
*US Citizenship and Immigration Services
*US Customs and Border Protection
*Us Immigration and Customs Enforcement
*Transportation Security Administration
*US Coast Guard
*US Secret Service
*Federal Emergency Management Agency
Who is the head of Homeland Security?
What is presidential succession?
the order in which we replace a President if he or she is unable to finish their term
What are some examples of when a president can't finish their term?
*impeached and removed
Who is after the president, Barack Obama from Illinois?
*VP: Joe Biden, Delaware
*Speaker of the House of Representatives: Joe Boehner
*President Pro Tempore of Senate: Daniel Inouye, D, Hawaii
*Secretary of State: Hilary Clinton
*Secretary of Treasury: Timothy Geithner
What is the role of the VP?
*replace the president if he can't finish his/her job
*break a tie in the Senate
*do whatever the president wants him to do
What is the purpose of the legislative branch?
to make laws
How many people are in the legislative branch?
535, 435 in the House of Representatives, 100 in the Senate
How long are House of Representatives terms?
How long are the Senate's terms?
6 years, 1/3 up for reelection every 2 years
Who are the Senators in Texas?
John Cornyn (R)
Kay Bailey Hutchison (R)
What are the qualifications for Senator?
*must be 30 years old
*must have been a citizen of the US for the past 9 years
*must be (at the time of election) an inhabitant of the state he or she represents
What are the qualifications for the House of Representatives?
*must be at least 25 years old
*must have been a citizen in the US for the past 7 years
What is the purpose of the Judicial branch?
interpret laws if they are unclear or "old" and make sure they are constitutional
How long are the terms of the Judicial branch?
Life (the Constitution provides that justices "shall hold their offices during good behavior")
What does the role: Chief Executive do?
*head of the executive branch
*makes sure all laws are carried out
*choose 4000 employees
What does the role: Commander in Chief of the Armed Forces do?
*head of army, navy , air force, marines
*has last say in battle strategies
*send troops to war for 60 days , then Congress must approve
What does the role: Chief Diplomat do?
*"face" of the US govt abroad
*negotiates with foreign govt
*sets foreign policy
*nominates the Secretary of State and all Diplomats and Ambassadors
What does the role: Legislative Leader do?
*Congress has last say but Pres can influence them
*make speeches to win public support
*can veto Congresses laws
What does the role: Judicial Powers do?
*nominate federal judges
*pardon federal offenders
What does the role: Party Leader do?
*head of Democrat/Republican
*has tremendous power over in his party
What does the role: Chief of State do?
*the symbol of our govt
*console us in times of pain
What are the 7 roles of the president?
Chief Executive, Commander in Chief of the Armed Forces, Chief Diplomat, Legislative leader, Judicial Powers, Party Leader, Chief of State
Who is the Chief Justice?
John G. Roberts
Who was John G. Roberts appointed by?
George W. Bush
Who was Atonin Scalia appointed by?
Who was Anthony Kennedy appointed by?
Who was Clarence Thomas appointed by?
George H. W. Bush
Who was Ruth Bader Ginsburg appointed by?
Who was Stephen Breyer appointed by?
Who was Samuel Alito appointed by?
George W. Bush
Who Sonia Sotomayor appointed by?
Who was Elena Kagan appointed by?
Who were the two people that George W. Bush appointed?
*John G. Roberts
Who were the two people that Reagan appointed?
Who did George H. W. Bush appoint?
Who were the two people that Clinton appointed?
*Ruth Bader Ginsburg
Who were the two people Obama appointed?
A person a congressman represents
Freedom of religion, speech, press, assembly, and petition
right to keep and bear arms
lodging troops in private homes
search, seizures, and proper warrant
criminal proceedings, due process, eminent domain
right to trial in criminal cases
right to speedy jury trials in most civil cases
bail, cruel and unusual punishment
power reserved to the states
immunity of states from certain suits
separate voting for President and Vice President
prohibition of slavery
citizenship, due process, equal protection
no denial of vote because of race, color, or previous state of servitude
power of congress to tax incomes
popular election of U.S. senators
prohibition of alcohol
change of dates for start of presidential/congressional terms
repeal of prohibition
limit on presidential tenures
District of Columbia electoral vote
ban on poll tax payment on voter qualification
presidential succesion, vice presidental vacancy, presidential dissability
minimum voting age no higher than 18
Jury of your peers
A jury made up of regular old folks
How is a jury of your peers selected?
By a computer if you signed up to vote or have a drivers license
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