TAXES & GOVERNMENT SPENDING
a tax in which the percent paid increases as income increases
What is a Progressive Tax?
a trade penalty imposed by one nation onto one or more other nations
What is a Sanction?
international trade left to its natural course without tariffs, quotas, or other restrictions.
What is Free Trade?
When enough food is produced to feed the masses, or in other words, farming for profit:
What is Commercial Farming?
This Assistant Principal may greet you with a warm smile and a hand shake, OR he might revert back to his military days and solute you instead!
Who is Mr. Lindsey
income, property, good, or service that is subject to tax
What is the Tax Base?
the partial or complete prohibition of commerce and trade with a particular country or a group of countries
What is an Embargo?
This country is the United States biggest Trade Partner
Who is Mexico?
The inability of a nation to produce a good more efficiently than other nations, but an ability to produce that good more efficiently than it does any other good
What is Comparative Advantage?
This teacher has a deep, smooth and silky voice that would serve him just as well as a quiet storm jazz radio host. He went an HBCU that was not as good as Mr. Kelly's school, but we still love him anyways...
Who is Mr. Franklin?
a tax in which the percent of tax stays the same as income increases
What is a Proportional Tax?
a numerical limit on imports or exports
What is a Quota?
The purchase, sale, or exchange of goods and services across national borders
What is International Trade?
The ability of a nation to produce a good more efficiently than any other nation
What is Absolute Advantage?
This former Fighting Farmer once won a Texas H.S. State Championship. Now he spends his time trying to get his current players to do the same thing!
Who is Coach Odle?
a tax in which the percent paid decreases as income increases
What is a Regressive Tax?
tax on imported goods or services
What is a Tariff?
The price of a nation’s currency in terms of another nation’s currency.
What are Exchange Rates?
When the food or resources that are grown are only enough to feed an immediate family or small group
What is Subsistence Farming?
This former hoop star teacher from Waco, Tx has a smile that lights up the hallways. But don't get it twisted... She's got plenty of bark, bite, and passion for excellence both in the gym and in the classroom.
Who is Coach Wyatt?
Government spending on Defense, Education, student loans and law enforcement
What is Discretionary spending?
bringing goods or services into a country for sale
What is an Import?
The expansion of economic, political, and cultural processes to the point that they become global in scale and impact is what?
What is Globalization?
This refers to countries with abundant resources and high levels of economic development. High life expectancy and high literacy rates
What are Developed Countries?
This LHS Alumni Teacher has an awesome portrait of herself depicted as the Queen of Hearts. These days she also serves as the undisputed "Queen of the Counsel".
Who is Mrs. Lindamood?