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Final Exam Review Sheet Name: __________________________ The Judiciary Article III Special courts District courts Court of appeals Supreme Court (number of justices, how many to hear a case, how many for decision) Appointment process Certiorari Dual court system (state, federal) Judicial activism vs judicial restraint Concurrent jurisdiction Appellate jurisdiction Exclusive jurisdiction Plaintiff Precedent Different types of opinions (majority, minority, concurring) Types of cases state courts hear vs. federal courts Civil liberties Public vs private figures Slander vs libel School drug tests School newspapers free speech rights Death penalty for under 18 defendants College admission, race Student led prayer Santa Fe Independent School District v Doe (2000) Burwell v. Hobby Lobby (2014) United States v. Eichman (1990) Hazelwood School District v. Kuhlmeier (1988) Walker v. Texas Division of Sons of Confederate Veterans (2015) Snyder v. Phelps (2011) Boys Scouts of America v. Dale (2000) Board of Education v. Earls (2002) Safford Unified School District v. Redding (2008) Roper v. Simmons (2005) Miller v. Alabama (2012) Atkins v. Virginia (2002) Fisher v. University of Texas at Austin (2013) Young v. United Parcel Service (2015) Federal Budget Bureaucracy Approval process Treasury Department Federal Reserve Bank Debt vs deficit Federal entitlement programs Role of taxes Excise tax Surplus vs deficit Federal income tax Medicaid Medicare Social Security Estate tax Luxury tax Gift tax Constitutional limits on federal spending Progressive vs regressive taxation Payroll taxes Money supply Fiscal policy Retrograde tax Eligibility standards Fiscal vs monetary policy tariff NAFTA Globalization WTO EU World Bank International Monetary Fund Manufacturing economy Service economy Agricultural economy Independent economy Economic concepts Scarcity Tradeoff ceteris paribus Land, labor, capital, entrepreneurship Opportunity cost Law of Increasing opportunity cost Law of Decreasing opportunity cost Law of Constant opportunity cost Economic models Income effect Substitution effect Production possibilities frontier Microeconomics Macroeconomics Circular flow diagram Households v. firms Transfer payments Marginal analysis Marginal benefit vs Marginal cost Net benefit Inferior vs normal goods Law of Supply Law of Demand Demand vs quantity demanded Supply vs quantity supplied Substitutes vs complements Determinants of supply and demand Subsidies Taxes Equilibrium Equilibrium Price Equilibrium Quantity Price floors Price ceilings Surplus Shortage Formula to compute GDP Nominal vs Real GDP Imports Exports Intermediate vs Final Goods Inflation Effects of Inflation Deflation Business cycle Expansion Contraction Peak Trough Depression Recession Discouraged workers Underemployed workers Labor Force Unemployed Employed Frictional unemployment Seasonal unemployment Structural unemployment Cyclical unemployment Natural rate of unemployment CPI Market Basket Hyperinflation How to compute inflation?