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Civics Core 100, Goal 9

Civics Core 100, Goal 9. Goal 9: The learner will analyze factors influencing the United States economy. Global Interdependence. Global Interdependence. People and nations all over the world now depend on one another for many goods and services TRADE. Business Cycle. Business Cycle.

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Civics Core 100, Goal 9

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  1. Civics Core 100, Goal 9 Goal 9: The learner will analyze factors influencing the United States economy.

  2. Global Interdependence

  3. Global Interdependence • People and nations all over the world now depend on one another for many goods and services • TRADE

  4. Business Cycle

  5. Business Cycle • The economy grows over time through alternating intervals of growth and decline called the business cycle

  6. Government Regulation

  7. Government Regulation • Environmental Protection (EPA) • Citizens’ safety (OSHA- workplace protection, CPSC- consumer protection) • Affirmative Action • Labor disputes • Deregulation

  8. Economic Indicators

  9. Economic Indicators • Facts, data, etc. that show the present and/or future health of the economy • GDP- total value of all final goods and services produced in an economy • Per Capita GDP- calculates number of goods produced per person; divide GDP by population • Standard of Living- level of economic prosperity at which people live • Consumer Price Index- measures monthly changes in costs of goods and services typically purchased by consumers • Stock Market- bull market= rising, bear market= falling

  10. Migration

  11. Migration • Movement of people from one location in a country to another • People are leaving the Rust Belt and the Frost Belt to move to the Sun Belt states • Silicon Valley in California is the hub of the US computer industry • Research Triangle Park in NC is a prominent high tech research and development center

  12. International Trade Organizations

  13. International Trade Organizations • European Union (EU): org of independent European nations • North American Free Trade Agreement (NAFTA): will eventually eliminate all barriers to trade among US, Canada, and Mexico • World Trade Organization (WTO): oversees trade among all nations

  14. Free Trade v. Protectionism

  15. Free Trade v. Protectionism • Free Trade: reduced barriers on trade • To increase trade, countries join together with a few key trading partners to set up zones of free trade • Protectionism: tariffs placed on imports; price of foreign goods goes up and makes local prices more competitive • to protect domestic products • Can lead to trade wars: set up even greater trade barriers

  16. Taxation

  17. Taxation • Fiscal Policy (Taxing and Spending) • Decrease taxes= more disposable income, economic growth • Increase taxes= slows economy, can be used to curb inflation • Progressive Taxes, Regressive Taxes, Proportional Taxes, Income Taxes, Excise Taxes, Sales Taxes,etc.

  18. Fiscal Policy

  19. Fiscal Policy • Changes in government spending or tax policies • Long term economic goals • Important economic tool because of its ability to affect the total amount of output produced (GDP)

  20. Monetary Policy

  21. Monetary Policy • Controlling of the supply of money and the cost of borrowing money (credit) • Short term economic goals • The Federal Reserve System can increase or decrease the supply of money

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