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Section 1

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monetary policy

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Politics

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Last updated

7 years ago

Date created

Mar 14, 2020

Cards (19)

Section 1

(19 cards)

monetary policy

Front

government decisions about how to influence the economy using control of the money supply and interest rates

Back

Great Compromise

Front

A compromise between the large and small states, proposed by Connecticut, in which Congress would have two houses: a Senate with two legislators per state and a House of Representatives in which each state's representation would be based on population (also known as the Connecticut Compromise).

Back

fiscal policy

Front

government decisions about how to influence the economy by taxing and spending

Back

Federalists

Front

Those at the constitutional convention who favored a strong national government and a system of separated powers

Back

Federal Reserve System

Front

An independent agency that serves as the central bank of the United States to bring stability to the nation's banking system.

Back

Initiative

Front

A popular vote on legislature written and proposed by citizens the state government

Back

Referendum

Front

Popular vote on legislature passed by state government

Back

categorical grants

Front

Federal aid to state or local governments that is provided for a specific purpose, such as a mass-transit program within the transportation budget or a school lunch program within the education budget.

Back

block grants

Front

Federal aid provided to a state government to be spent within a certain policy area, but the state can decide how to spend the money within that area.

Back

Shay's Rebellion

Front

An uprising of about 1,500 men in Massachusetts in 1787 to protest oppressive laws and gain payment of war debts. The unrest prompted calls for a new constitution

Back

Antifederalists

Front

Those at the constitutional convention who favored strong state governments and feared that a strong national government would be a threat to individual rights

Back

New Jersey Plan

Front

A plan that was in response to the Virginia Plan, in which smaller states at the Constitutional Convention proposed that each state should receive equal representation in the national legislature, regardless of size.

Back

Articles of Confederation

Front

Sent to the states for ratification in 1777, these were the first attempt at a new American government. It was later decided that the Articles restricted national government too much, and they were replaced by the Constitution.

Back

Recall

Front

A popular vote to elect an elected government official from office

Back

business cycle

Front

The normal pattern of expansion and contraction of the economy

Back

federal funds rate

Front

The interest rate that a bank must pay on an overnight loan from another bank

Back

Virginia Plan

Front

A plan proposed by the larger states during the Constitutional Convention that based representation in the national legislature on population. The plan also included a variety of other proposals to strengthen the national government.

Back

Three-Fifths Compromise

Front

The states decision during the constitutional convention to count each slave as three fifths of a person in a states population for the purpose of determining the numbers of house members and the distribution of taxes

Back

reserve requirement

Front

the minimum amount of money that a bank is required to have on hand to back up its assets

Back