AP Micro 1
This is a form of imperfect competition where it is the only one in the market; the name of a popular boardgame.
What is a Monopoly
There are only a few firms in this type of market
What is an Oligopoly
The assigning by Congress of congressional seats after each census, thereby reallocating in accordance with the new population distribution
These types of grants are approved by Congress for specific things only
What is a categorical grant
This person wrote 29 of the 85 Federalist Papers.
Who was James Madison?
Factors of production, 4 categories: labor, physical capital, land/natural resources, and entrepreneurial ability
What are Resources?
Total Revenue minus Total Cost (TR-TC)
What is Profit
The powers expressly given to Congress in the Constitution
What are the enumerated powers?
a primary in which only members of that particular party are allowed to vote
what is a closed primary
The part of government to which express powers are delegated to
What is the Federal government?
The imbalance between limited productive resources and unlimited human wants
What is Scarcity
Price x Quantity
What is total revenue?
America's first constitution
What is the Articles of Confederation
this article of the Constitution lists the powers of the president
What is Article II
This provision was outlawed by the 24th amendment.
What are Poll taxes?
The most desirable alternative given up as the result of a decision
Opportunity Cost
this law states that the more you have, will eventually cost you
What is the Law of Diminishing Return?
this person developed the science of polling
who is George Gallup
The most reliable voting bloc for the Democratic Party
Who are African-Americans
What are the legislative, executive, and judiciary branches?
The additional cost incurred from the consumption of the next unit of a good or a service
What is a factor market?
what are the three inalienable rights?
What are life, liberty, and the pursuit of happiness
Dividing powers between the central government and states
What is Federalism
This was the decision made during Shawn v. Reno:
What is Race could no longer be the sole basis for creating or modifying a voting district?