Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
31 Cards in this Set
- Front
- Back
|
Banana Republic
|
Central American country whose government is allowed to stand in power only if it agrees to trade with America on American terms
|
|
|
Cold War
|
WWIII, MAD, U.S vs. USSR; war in developing world: Korea, Vietnam, and Yom Kippur
|
|
|
Commerce Clause
|
Congress to regulate interstate commerce
|
|
|
Containment
|
Established by the Truman Doctrine; the US will stop the spread of communism and intervene when it feels a threat
|
|
|
Cuban Missile Crisis
|
MAD avoided after escalating; each side tried to make the other back down by raising stakes; JFK and the ="bay of pigs": missile gap.
|
|
|
Détente
|
US diplomatic policy based on the relaxation of tension (Nixon's visit to china and the USSR)
|
|
|
Discount Rate
|
Federal Reserve charges big banks to loan them money
|
|
|
Dual Federalism
|
Layer cake new deal, federalism; federal>state power
|
|
|
Elastic Clause
|
Implied (inexplicit) powers given by the constitution; article 1, section 8
|
|
|
Enumerated Power
|
Power that the federal government has which are clearly and deliberately written in constitution
|
|
|
Federal Funds Rate
|
the rate which Federal Reserve charges banks to lend them money
|
|
|
Federal Reserve
|
Similar to a big federal bank; affects money supply
|
|
|
Fiscal Federalism
|
Revenue sharing; block grants; grant in aid; States lose anatomy (bad side).
|
|
|
Fiscal Policy
|
Taxing policy and spending policy
|
|
|
GATT
|
General Agreement on Tariffs and Trade; established in 1948; replaced by WTO (World Trade Organization)
|
|
|
Good Neighbor Policy
|
No more gunboat diplomacy, treat our neighbor in the South with respect (FDR)
|
|
|
Gun Boat Diplomacy
|
The use/ threat of military force to coerce favorable treaty/ economic terms from a country.
|
|
|
Horizontal Federalism
|
State to State; article 4: "full faith and credit."
|
|
|
IMF
|
international monetary fund; loans millions of dollars to countries; a specialized agency of the United Nations that seeks to promote international monetary cooperation and to stimulate international trade
|
|
|
Implied Power
|
Power inexplicitly given by the constitution; elastic clause (article 1, section8)
|
|
|
Inflation
|
increase in monetary value can lead to massive fast inflation
|
|
|
Inherent Power
|
Action necessary to maintain security; Lincoln and mobilization during the civil war.
|
|
|
Inventory Recession
|
An economic policy of demand; cost goes down
|
|
|
Isolationism
|
Washington’s policy based on the noninterference of the US in other countries' problems
|
|
|
Keynesianism
|
Economic policy from 1932-1980 stimulated by the great depression and based on keeping demand a little ahead of supply (demand-side)
|
|
|
Laffer Curve
|
Reaganomic basic principle based on maximizing the tax rate; not too high not too low.
|
|
|
Laissez Faire
|
Government keeps "hands off" decision making; pro-business policy
|
|
|
Layer Cake Federalism
|
Dual federalism; Federal power is explicitly greater than State power.
|
|
|
Loose Monetary Policy
|
increase in money supply; more spending and investment; low IR's; inflation; and unemployment
|
|
|
MAD
|
Mutually Assured Destruction. "You nuke us we nuke you"
|
|
|
Marble Cake Federalism
|
New deal federalism; Federal power is inexplicitly greater than State power.
|
