911
What happened on September 11, 2001 in New York?
The World Trade Center was attacked by terrorists
US entered this country to locate terrorists responsible for 9/11
Afghanistan
What is the purpose of a coalition?
a temporary alliance
What is a budget?
A plan showing how income is to be spent
What is supply?
The amount that producers are able and willing to produce and sell at all possible prices at a given time
After the attacks on the US, Bush stated we are in a
War on Terror
United States troops entered Afghanistan, and were successful in overthrowing
the Taliban regime
How did the U.S. respond to the invasion of Kuwait by Saddam Hussein?
Troops went to the Persian Gulf to fight Iraq
What is credit?
A promise of payment at a future time in return for goods/services now
What is demand?
The amount that consumers are able and willing to buy at all possible prices at a given time
What is violence against regular citizens for a political goal called?
Terrorism
Name two aspects that prolonged the war
1. terrain 2. guerilla warfare
How did the U.S. win the war in the Persian Gulf?
After 42 days of relentless attacks by the allied coalition in the air and on the ground
What does it mean to invest?
Use money to gain a profit
What is competition?
Methods used by businesses to gain more customers and earn higher profits
Terrorists also hit
the Pentagon in Washington, DC
In 2003, the United States continued the War on Terror with an invasion in
Iraq
US remains in Afghanistan to
the present
What are taxes?
Required payment of money made to governments by people and businesses on goods and services
What is a consumer?
Someone who spends their money on a good or service
The people responsible for 9/11 were
a terrorist group called Al Qaeda from the Middle East
President Bush argued that this leader was supporting terrorists
Saddam Hussein
American troops remained in Iraq until
2011
What is the Federal Reserve Bank?
The central banking organization in the U.S.
What is an investment?
The purchase of goods that are not consumed today but are used in the future to create wealth