Do Now
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2 pts per day
Complete in 3-5 full
sentences, unless
otherwise noted
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Date each entry
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Use the entire page
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Write on only one
side
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2/24/2014
*List and define the 4 factors of production.
Relate these factors to opening up an Soft
Pretzel store in Doylestown.
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Discuss how scarcity, trade offs and
opportunity cost are related. Give a specific
example.
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A. Explain why a point outside of the PPF curve is
not attainable.
B. What does any point on the PPF line represent?
C. What does any point inside the PPF line
represent?
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What are the names of your representatives in
PA to the Federal Government and their title?
Which of these do you feel you have more
access to? (Could call to set up a meeting,
who understands your local issues.)
What is the difference between the Federal
Reps and your State Reps?
USA Reps Link
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Considering the presidency from George
Washington to now, how has technology related to
communication and social media changed the way
presidents campaign for office and present their
position on issues to the public?
How do you think our 1st 10 presidents would have
viewed and adapted to this new technology?
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What 2 roles of the POTUS discussed so far do you
feel is most important and why?
How has the president exercised this role in recent
news?
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Identify which of the roles of the president are being
demonstrated in each of the following photos.
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1.
2.
3.
4.
5.
6.
7.
Executive Branch Review
What is the role of the executive branch?
List the 8 roles of the president (hats)?
What does “federal bureaucracy” mean?
What is the cabinet and what is their role?
What does impeachment mean?
What is the maximum number of years a President can
serve?
Identify one check the executive Branch has on each of the
other branches.
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What do you already know about the Judicial
branch of government? Write at least one
question you have about this branch.
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Briefly explain the significance of the Marbury v.
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What was established as a result of this case?
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Madison case of 1803.
What is your opinion/reaction of/to the following
statement: “Scholars argue that the power of
judicial review in the United States predated
Marbury, and that Marbury was merely the first
Supreme Court case to exercise a power that
already existed and was acknowledged.”
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These scholars point to statements about judicial
review made in the Constitutional Convention
and the state ratifying conventions, statements
about judicial review in publications debating
ratification, and court cases before Marbury that
involved judicial review.[13]
At the Constitutional Convention in 1787, there
were a number of references to judicial review.
Fifteen delegates made statements about the
power of the federal courts to review the
constitutionality of laws, with all but two of them
supporting the idea.[14]
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Likewise, at the state ratifying conventions, over two
dozen delegates in at least seven states indicated that
under the Constitution, the federal courts would have the
power to declare statutes unconstitutional.[15] Professors
Saikrishna Prakash and John Yoo point out, with respect to
the ratification of the Constitution, that "no scholar to date
has identified even one participant in the ratification fight
who argued that the Constitution did not authorize judicial
review of Federal statutes. This silence in the face of the
numerous comments on the other side is revealing."[16]
The concept of judicial review was discussed in the
Federalist Papers. Alexander Hamilton asserted in
Federalist No. 78 that under the Constitution, the federal
courts would have not just the power, but the duty, to
examine the constitutionality of statutes
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What is a president and how does this relate
to the Supreme Court?
What is the process to become a Supreme
Court Justice? How long do they serve?
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Bucks County Court System
Watch a few minutes of the video and list 5
specifics about the Bucks County Court
System.
What did you learn that was new or
interesting?
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What are the three (3) ways a case
can be heard by the US Supreme
Court?
(1) filing directly in the Supreme Court
(2) filing in a lower federal court, such as a district
court, and appealing all the way up to the
Supreme Court
(3) filing in a state court, appealing all the way up
through the state's highest courts, and then
appealing to the Supreme Court on an issue of
federal law
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The first is an exercise of the Court's original jurisdiction;
the second and third are exercises of the Supreme Court's
appellate jurisdiction.
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What results if the Supreme court declines to hear a
case from a lower court? Do you feel that this pass
on a review gives the previous case fair treatment?
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The U.S. Supreme Court announced Monday it would not hear
a Pennsylvania school district’s appeal challenging student’s
right to wear “I (heart) boobies” bracelets. The Supreme
Court’s refusal to hear the case means the August 2013
ruling of the Third Circuit Court of Appeals in Philadelphia
will stand, marking a clear victory for students Brianna Hawk
and Kayla Martinez.
During the Justices' regular conference, the Justices discuss
the petitions, and grant certiorari in less than five percent of
the cases filed. Recently, the number of cases granted has
averaged well under 100 annually. Before each conference,
the Chief Justice prepares a list of those petitions he believes
have sufficient merit to warrant discussion.
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1.
Consider the current news headlines and draw a
demand curve with all of the required labeling.
Connecticut Senate approves highest minimum
wage. How with this impact the demand for household
goods in Connecticut?
2. Drought conditions raise food costs-The cost of getting beef
on the grill is higher now than it's been over the past five
years. How will this impact the demand for chicken?
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List the supply shifters. Which of these do
you think is most common in the real world
and why?
Review the link below and identify which
supply shift factor is being described.
Heat Source
What do each of these graphs represent? Create a shift factor
situation for each that would be represented by each graph.
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Create a Market graph with both supply and demand curves
in response to these current news events. Identify the shift
factor and Q-demanded change. Use the supply and demand
shifters at least once. Mind your Ps and Qs.
1.
Consumers seen springing ahead — for now Retail spending likely
surged in March, but key is whether it can be sustained.
2. Gold will resume a decline as US economic growth accelerates.
3. Toyota pulls out of small car race, will focus
on bigger ones.
Identify for each situation below if this is a demand or supply side
issue and the shift factor. Do not graph and use your notes.
1. The number of firms (businesses) that make drones for personal
and business use have greatly increased over the past 2 years.
2. As today is the last day to file your taxes, how will the
market for stamps be effected?
3. General Motors has found another flaw in the ignitions of the 2.6
Million it's already recalled, and will replace an additional part to
remedy the problem. How may this news impact the market for
qualified GM mechanics?
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A February 4, 2009 Wall Street Journal article stated, "Last month
State Farm pulled the plug on its 1.2 million homeowner policies in
Florida, citing the state's punishing price controls...State Farm's
requested an increase of 47%, but state regulators refused.
State Farm says that since 2000 it has paid $1.21 in claims
and expenses for every $1 of premium income received.
1. Why did State Farm pull out of FL and stop insuring their residents?
2. Why couldn't State Farm raise their rates to pay for the large
number of claims due to storms?
3. Graph the situation this caused for the residents
of FL regarding obtaining insurance?
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What factors determine if you are willing to obtain
a loan to buy a car?
Consider your monthly loan payment and what
factors determine what this payment may be.
A. In your own words define GDP.
B. Give an example of an economic good or service
that would contribute to the US GDP
C. Write the equation for GDP.
x + x + x + x = GDP
D. Select one of the components of the GDP equation and
explain what it means. Give an example.
GOTO THE NEXT SLIDE
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Define the term inflation and give an example
of how you may experience this in 10 years.
How does what people earn from working
usually respond to inflation?
*A camel cost $2-6K.
How to Buy a Camel
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A.
B.
Explain how GDP and the unemployment rate
in the US indicates a:
A surging-growing economy
A sluggish-slowing economy
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List the 4 types of unemployment and give
and example of each.