Economics
This measures the percentage of people who are looking for a job but who do not have one.
What is the unemployment rate?
The Federal Reserve, or Fed, uses this main tool for controlling the economy.
What is the interest rate?
This group has the power to declare war in the U.S.
What is Congress?
What is the UN?
This is the trade-off, or what is lost when any decision is made. For example, if more time is spent studying, the ___________ is time lost with friends.
What is opportunity cost?
Social Security and Medicare are examples of these programs meant to provide equity in society.
What are entitlement programs?
This goal is achieved by creating a military.
What is national defense?
This military alliance includes the U.S., Canada, and most of Western Europe.
What is NATO (North Atlantic Treaty Organization)?
What is a command economy?
This group is in charge of fiscal policy.
What is the national government (Congress and the President)?
A formal agreement of peace and end of war between two countries or enemies.
What is a treaty?
What is isolationism?
The total dollar value of all goods and services produced in a country in a year.
What is the GDP (Gross Domestic Product)?
The Federal Trade Commission and Federal Communications Commission are examples of this governmental control on citizens' well-being.
These are economic penalties meant to influence other countries and their policies that include embargoes and trade restrictions.
What are economic sancitons?
Most critics of NAFTA and USMCA agree this the main concern with a North American trading bloc.
What is the loss of American jobs?
This measures the price of a set "basket" of goods, which is generally used to measure inflation and the cost of living.
What is the CPI (Consumer Price Index)?
This type of policy would be used by the Fed and Congress if the country was going through a period of recession.
What is expansionary policy?
This person is in charge of diplomacy and working with foreign governments.
Who is the Secretary of State?
This international organization would intervene in cases of inequity, such as developing nations having barriers to improving its citizens standard of living.
What is the IMF (International Monetary Fund)?