Fsot economics - Study guides, Class notes & Summaries

FSOT Economics Latest Update 100% Correct Gross Domestic Product (GDP) The sum value of all goods and services produced within a country. Gross National Product (GNP) The sum value of all goods and services produced by permanent residents of a country regardless of their location. Stagflation A stagnant economy with a high level of inflation--price level increases and output decreases Consumer Price Index (CPI) A cost of living index that measures the total cost of goods and s...

Gross Domestic Product (GDP) : The sum value of all goods and services produced within a country. Gross National Product (GNP) : The sum value of all goods and services produced by permanent residents of a country regardless of their location. Stagflation : A stagnant economy with a high level of inflation--price level increases and output decreases Consumer Price Index (CPI) : A cost of living index that measures the total cost of goods and services purchased by a typical consumer ...

FSOT Economics

FSOT Economics

FSOT question and answers 2022/2022Laissez-faire capitalism the system where the government does not intervene in the government Normative economics the part of economics that expresses value or normative judgments about economic fairness or what the outcome of the economy should be (what economy should be) Positive economics positive economics or descriptive economics examines data that can be verified or proven. (what economy is) Macroeconomics economics dealing with t...

FSOT questions and answers latest1st amendment Freedom of Religion, Speech, Press, Assembly, and Petition 2nd amendment Right to bear arms 3rd amendment No quartering of soldiers 4th amendment Freedom from unreasonable searches and seizures 5th amendment Criminal Proceedings; Due Process; Eminent Domain; Double Jeopardy; Protection from Self incrimination 6th amendment The right to a Speedy Trial, representation by an attorney for an accused person ...

FSOT graded A+ 2022Mculloch v Maryland - constitution has right to enact laws beneficial to country, in this case, central bank Marbury v Madison - John Marshall enacted judicial review. Was regarding james madisons appointments after he was out of office Gibbons v Ogden - Each had a permit, one federal, and one state, this ruling set up the supremacy clause that federal law takes priority Dred Scott vs Sandford - Each had a permit, one federal, and one state, this rul...