FSOT Flashcards
Business Cycle
A natural fluctuation between low and high points in the market.
.msg
Outlook Mail Message
Hyperlink
A link to an Internet address that can be used in documents. Users must control left-click to open a hyperlink.
Balance of Payments
The relationship between the payments made by one nation to all other nations and its receipts from all other nations.
John Locke
Promoted individualism and is credited with inspiring Thomas Jefferson and the Declaration of Independence
Liquidity
The speed at which an asset can be turned into cash, illiquid vs liquid assets.
HTML
Hypertext Markup Language, coding language used to construct the web.
Solipsism
The belief that all reality is just one’s own imaging of reality.
URL
Universal Resource Locator, refers to formal address of a document on the Internet.
Jamestown
The first permanent English settlement in North America, 1607.
Louisiana Purchase
President Jefferson bought from Napoleon in 1803.
Monitor vs Merrimack
A naval engagement of the two “ironclad” ships during the Civil War; demonstrating that wooden warships were obsolete.
Stamp Act
A law passed by British government in 1765 that taxed newspapers and other documents in the colonies.
Pocket-veto
The ability of a president to take no action on a bill, effectively vetoing the bill.
Single-Member District
Individual receiving majority of votes is declared the winner. System of election in the U.S. Usually leads to the development of a two-party system.
Closed Primary
Primary limited to registered party members, opposite of an open primary, where members of both parties can vote.
Discretionary spending
Spending that is entirely subject to congressional approval. Military spending is the largest of discretionary spending.
Department of the Interior
Responsible for the National Park Service and Bureau of Indian Affairs.
Mandatory Spending
Entitlement programs such as Social Security, Medicare, and Medicaid are considered mandatory spending because the government is required by law to make such payments.
Habeas corpus
Prevents the government from holding you indefinitely, must show due cause.
Filibuster
A strategy where a minority can delay a vote by making long speeches, can force withdrawn of a bill.
Homestead Act
A law passed in the 1860’s which gave 160 acres to individuals willing to live on the land for at least 5 years
Whip
Charged with whipping up party support in issues and keeping track of party members votes.
Monroe Doctrine
A foreign policy statement declaring any European involvement in the affairs of The Americas to be considered an act of aggression toward the U.S.