Chapter 24: Money and BankingThe basis of the market economy is
voluntary exchange. In the American economy, the exchange usually
involves money in return for goods and services. Why do you accept
money in exchange for goods or services? What gives money its
value? Where do you keep your money? Answer the questions above in
a brief essay.
To learn more about how our money and banking system works, view
the Economics & You video lesson 18: Money and Banking.
Summarizing Information Study Foldable Make this foldable and use
it to record what you learn about money and banking.
Reading and Writing As you read, identify the key points of each
section in the chapter and write these main ideas under the
appropriate tabs of your foldable.
Step 3 When all the tabs are the same size, crease the paper to
hold the tabs in place and staple the sheets together. Label each
tab as shown.
Step 2 Fold up the bottom edges of the paper to form four
tabs.
522 Investing in the stock market is
one way people use their money.
Keep the edges straight.
This makes all tabs the same size.
Money & Banking What Is Money? The Federal Reserve System How
Banks Operate
Staple together along
Gail Mooney/CORBIS
Step 1 Collect two sheets of paper and place them about 1 inch
apart.
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Chapter Overview Visit the Civics Today Web site at civ.glencoe.com
and click on Chapter Overviews— Chapter 24 to preview chapter
information.
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The primary purpose of the U.S. Mint is to produce an adequate
supply of circulating currency for the nation to conduct its trade
and commerce. The U.S. Mint is also in charge of producing special
commemorative coins. Shown here is the first coin that ever
featured an African American—the Booker T. Washington Memorial
half-dollar. It honors the famous educator who was born a slave in
Virginia in 1856. Designed by Scott Hathaway, the sale of this
commemorative coin raises money to pay for a memorial for
Washington.
Money All of us know what money looks like, and we know how
to
spend it. In this chapter, we’ll look at how money makes our lives
easier and allows the economy to function more smoothly.
Money is more interesting than you might think. It serves different
functions, comes in several different forms, and has value for
reasons that are not immediately obvious.
Three Functions of Money Money has three functions. First, it
serves as a medium of
exchange. This means that we can trade money for goods and
services. Second, money serves as a store of value.We can hold our
wealth in the form of money until we are ready to use it.
Third, money serves as a measure of value. Money is like a
measuring stick that can be used to assign value to a good or
service. When somebody says that something costs $10, we know
exactly what that means.
Types of Money Anything that people are willing to accept in
exchange for
goods can serve as money. At various times in history, salt, animal
hides, gems, and tobacco have been used as mediums of exchange.
Each of these items has certain characteristics that make it better
or worse than others for use as money.
GUIDE TO READING
Main Idea
In addition to serving as a medium of exchange, money also
functions as a store of value, a measure of value, and part of a
broader financial system.
Key Terms
coin, currency, commer- cial bank, savings and loan association
(S&L), credit union, Federal Deposit Insurance Corporation
(FDIC)
Reading Strategy
Organizing Information As you read, describe the functions of money
by completing a graphic organizer like the one below.
Read to Learn
• What are the different types of money?
• How does the American financial system operate?
What Is Money? SECTION
Booker T. Washington Memorial half-dollar
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Tobacco, for example, is easy to transport, but it is not durable.
Gems are easy to carry but they are not easy to split into small
pieces to use.
The most familiar types of money today are coins and currency.
Coins are metallic forms of money such as pennies, nickels,
dimes—and the Booker T.Washington half- dollar discussed in the
feature that began this section. Currency includes both coins and
paper money.
There are other forms of money as well. Some people keep their
money in the form of checking accounts, and some is kept in savings
accounts.You will learn more about these accounts later in the
chapter.
Why Money Has Value We value and accept money for a simple
reason—we are absolutely sure that some- one else will accept its
value as well. If we did not have this confidence in money, we
would not accept it from someone else for payment in the first
place.
Money by itself generally has no other value. A $10 bill costs only
a few cents
to make and has no alternative use. Even coins contain small
amounts of precious metal that are worth much less than the value
of the coins. The same is true of checking and savings
accounts—they have value only because we accept that they have
value.
Describing What are currency and coins?
The Financial System People and businesses with money to
save take it to financial institutions. These institutions do not
simply put the money in a safe and leave it there. Instead, they
put the money to work by lending it to other people or businesses
that need funds. The financial institution covers its costs—and
makes a profit—from the interest (fees) it charges for those
loans.
Money Through the course of history, people have used many
different materi- als—gold, copper, beads, and even feathers—as
money. What two types of money are most commonly used today?
Student Web Activity Visit civ.glencoe.com and click on Student Web
Activities— Chapter 24 to learn more about the American finan- cial
system.
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B ro
ok s/
B ro
w n/
P ho
to R
es ea
rc he
Types of Financial Institutions Commercial banks are financial
insti-
tutions that offer full banking services to individuals and
businesses.They are proba- bly the most important part of our
financial system because of their large areas of influ- ence. Most
people have their checking and savings accounts in commercial
banks.
Savings and loan associations (S&Ls) are financial institutions
that traditionally loaned money to people buying homes.They also
take deposits and issue savings accounts in return. Today, S&Ls
perform many of the activities that commercial banks do.
Credit unions work on a not-for-profit basis. They are often
sponsored by large businesses, labor unions, or government
institutions. They are open only to mem- bers of the group that
sponsors them. Credit unions give these workers a financial
institution that has low costs.
Although these three types of institu- tions have differences, each
performs a sim- ilar function. They all act to bring savers and
borrowers together.They give people a safe place to deposit their
money when they want to save it and a source for borrowing when
they need a loan.
Keeping Our Financial System Safe The United States has one of the
safest
financial systems in the world. This high degree of safety results
from two factors— regulation and insurance.
Features of U.S. Currency
Portrait
Security thread
Security thread
All U.S. currency is produced by the Bureau of Engraving and
Printing. This new $20 note was issued in October of 2003. What
does it mean to say money serves as a “medium of exchange”?
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Checking for Understanding
1. Key Terms Define the following terms and use them in sen- tences
related to money and the American financial system: coin, savings
and loan association (S&L), credit union, currency, commercial
bank.
Reviewing Main Ideas 2. Explain In the American finan-
cial system, what gives money its value?
3. Describe Why is the American financial system one of the safest
in the world?
Critical Thinking
4. Making Generalizations What advantage does a credit union offer
its customers?
5. Organizing Information In a graphic organizer like the one
below, describe the types of institutions in the American financial
system.
Analyzing Visuals
6. Infer Look at the features of U.S. currency on page 526. Why do
you think currency is printed with special inks and includes a
security thread?
SECTION ASSESSMENT
First, financial institutions are closely regulated. In fact,
banking is one of the most regulated industries in the country.
Most financial institutions have to report to one or more
regulatory agencies on a regu- lar basis. They are required to
follow rules and accounting practices that minimize unnecessary
risk.
Despite the best efforts of regulators, some financial institutions
fail. When this happens, federal deposit insurance protects
consumers’ deposits. The most important insurance agency is the
Federal Deposit Insurance Corporation (FDIC), a federal corporation
that insures individual accounts in financial institutions for up
to $100,000. This means that if a depositor’s bank goes out of
business, the person does not lose his or her savings. The FDIC
will send the per- son a check for the amount that was on deposit
at the bank—up to $100,000.
When the banking system collapsed in 1934, the resulting crisis
wiped out people’s entire savings. Congress passed, and Pres- ident
Franklin D. Roosevelt signed, legisla- tion to protect deposits.
This legislation created the FDIC.
Because accounts in financial institu- tions have some type of
government insurance, consumers feel safer wherever they deposit
their money. As a result, they continue to make deposits—and those
deposits give financial institutions the funds they need to make
loans that help fuel economic growth.
Explaining What is the purpose of the Federal Deposit Insurance
Corporation?
BE AN ACTIVE CITIZEN 7. Compare Obtain brochures from
several banks and savings and loans. Compare their services and
fees. If you had $1,000, which institution would you choose?
Explain your choice.
Chapter 24 Money and Banking 527
American Financial
Susan B. Anthony was the first woman whose portrait was
used on U.S. money. You might think that Susan B. Anthony or
Sacagawea were the first women to be featured on money, but that
isn’t true. Martha Washington appeared on the one-dollar silver
certificates in 1886, 1891, and again in 1896.
Study Central TM To review this section, go to
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Citizenship
Why Learn This Skill? The world is divided into 24 different time
zones. Six of them divide the United States. Communicating or
traveling between them requires making time adjustments.
Learning the Skill To read a time zone map, follow these steps: •
Trace the vertical sections dividing the map.
Each section represents a time zone. • Observe the east-west
progression of the
zones across the map. The starting point is 0° longitude.
• Read the labels showing the time in differ- ent zones.
• Subtract or add hours among zones to determine time
differences.
Practicing the Skill Read the map above; then answer the follow-
ing questions.
Which time zone is located farther west, the central or mountain
time zone? When it is 3 P.M. in Los Angeles, what time is it in New
York City?
2
1
Practice key skills with Glencoe’s Skillbuilder Interactive
Workbook CD-ROM, Level 1.
Reading a Time Zone Map
120°W150°W
1:00 P.M.
2:00 P.M. 3:00 P.M. 4:00 P.M. 5:00 P.M. 6:00 P.M. 7:00 P.M.
7:30 P.M.
12:00 P.M.
Washington, D.C.
A banker in Chicago needs to attend a meet- ing in Washington,
D.C., starting at 1 P.M. The total travel time is three hours. What
time must the Chicago banker leave?
Applying the Skill
U.S. Time Zones
GUIDE TO READING
Main Idea
As our nation’s central bank, the Federal Reserve is a regulatory
agency; it serves as the government’s bank. It controls monetary
policy in the United States.
Key Terms
central bank, Federal Open Market Committee (FOMC), monetary
policy, discount rate, reserve, open market operations
Reading Strategy
Categorizing Information As you read, describe in a graphic
organizer like the one below the various roles played by the
Federal Reserve in the economy of the United States.
Read to Learn
• What role does the Federal Reserve play in the economy?
The Federal Reserve System
SECTION
The Federal Reserve cannot put a dollar in anyone’s pocket, provide
jobs for very many people, or buy more than a tiny number of goods
and services that the nation produces. But the Federal Reserve can
have an enormous impact on how you spend, invest, or borrow money.
This March 2005 news article from CNN/Money describes one of the
government bank’s actions: “The Federal Reserve raised short-term
interest rates another quarter point Tuesday . . . from 2.5 percent
to 2.75 percent, the highest since right after the Sept. 11 attacks
in 2001. It was the seventh quarter-point increase since the Fed
started raising rates last June to end an era of super-cheap money
and start the preemptive battle against inflation.”
Structure and Organization The Federal Reserve System, known as the
Fed, is the
central bank of the United States. When people or corpora- tions
need money, they borrow from a bank.When banks need money, they
borrow from the Fed.The Federal Reserve System is a banker’s
bank.
The United States is divided into 12 Federal Reserve dis- tricts.
Each district has one main Federal Reserve Bank. In addition, most
Federal Reserve Banks have branch banks within their
districts.
Thousands of banks in the United States are members of the Federal
Reserve System. Federally chartered commercial banks called
national banks are required to be members of the Fed.
State-chartered banks may also become members. Member banks are
owners of the Fed because they buy stock in the Fed and earn
dividends from it.
Board of Governors When the Fed was established in 1913, the
government did
not have enough money to set up a new central bank. To raise that
money, it required the largest banks to buy stock in the
The decisions of the Federal
Reserve Board affect the nation’s
money supply.
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530 Chapter 24 Money and Banking
Fed.To prevent these banks from having too great an influence over
the Fed, the law required that the president appoint and the Senate
ratify the seven members who make up the Board of Governors. The
president selects one of the board members to chair the Board of
Governors for a four-year term.
Board members and the chairperson are independent of the president.
Even Con- gress exercises little control or influence over the
board, because the board does not depend on Congress for an annual
appro- priation for operating expenses. This allows the Board of
Governors to make economic decisions independent of political
pressure.
Advisory Councils To keep informed of developments in
the economy, the Fed has several advisory councils. One council
reports on the general
condition of the economy in each district. Another reports on
financial institutions. A third reports on issues related to
consumer loans. Officials of the district banks serve on these
councils.
The major policy-making group within the Fed is the Federal Open
Market Committee (FOMC). The FOMC makes the decisions that affect
the economy as a whole by manipulating the money supply. The FOMC
has 12 members. Seven are permanent members of the Board. The other
five come from the district banks, and their memberships are
rotated.
Describing How is the Fed organized?
Structure of the Federal Reserve System
The Federal Reserve System, including its 12 district banks, is our
nation’s central bank. Who owns the Fed?
Federal Reserve Seal
the president and confirmed by Congress to serve 14-year
terms
FEDERAL OPEN MARKET COMMITTEE
New Yo rk City
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Chapter 24 Money and Banking 531
Functions of the Fed The Fed has two main regulatory func-
tions: it deals with banking regulation and consumer credit.
The Fed oversees many large commer- cial banks. If two national
banks wish to merge, the Fed will decide whether the action will
lessen competition. If so, the Fed could block the merger. It also
regu- lates connections between American and foreign banking. It
oversees the interna- tional business of both American banks and
foreign banks that operate in this country.
The Fed enforces many laws that deal with consumer borrowing. For
example, laws require that lenders spell out the details of a loan
before a consumer borrows money.The Fed specifies what information
lenders must provide.
Acting as the Government’s Bank The Fed also acts as the
government’s
bank in three ways. First, it holds the gov- ernment’s money.
Government revenues are deposited in the Fed.When the govern- ment
buys goods, it does so by drawing on these accounts.
Second, the Fed sells U.S. government bonds and Treasury bills,
which the govern- ment uses to borrow money. When some- one wants
to buy a $10,000 Treasury bill, he or she does so at a Fed district
bank. When the bill reaches maturity, he or she simply goes back to
a district bank and exchanges the bill for a check drawn from the
government’s account.
Third, the Fed issues the nation’s cur- rency, including paper
money and coins.This money is produced by government agencies, but
the Fed controls its circulation. When coins and currency become
damaged, banks send them to the Fed for replacement.
Identifying What organization regulates foreign banks that do
business in the United States?
Conducting Monetary Policy One of the Fed’s major responsibilities
is
to conduct monetary policy. Monetary pol- icy involves controlling
the supply of money and the cost of borrowing money—credit—
according to the needs of the economy. The Fed can increase the
supply of money or decrease the supply.
Alan Greenspan (1926– ) Alan Greenspan, chairman of the Federal
Reserve Board, knows how to spot a reces- sion. The son of a
stockbroker and a retail worker, the cau- tious economist lived
through the Great Depression as a child. President Gerald Ford
appointed him as an economic adviser when the economy plunged in
the 1970s. Then, just three months after Greenspan was named
chairman of the Federal Reserve Board in 1987, stock prices
crashed. Since then, four presidents—Ronald Reagan, George H.W.
Bush, Bill Clinton, and George W. Bush—have relied on Greenspan to
balance the economy somewhere between boom and bust.
Many Americans consider Greenspan sec- ond only to the president in
terms of power. Consumers and investors wait to see what he will do
with interest rates—raise them or lower them. What many don’t know
is that Greenspan loves musical notes almost as much as banknotes.
He studied at the Juilliard School of Music and traveled for a year
as a clarinet and saxophone player with a swing band. Today
Greenspan has a fan club—but it’s for his ability to handle
economic rhythms rather than musical rhythms.
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532 Chapter 24 Money and Banking
Changing the Supply of Money The supply and demand diagrams
on
this page show how monetary policy works. Because the amount of
money is fixed at any given time, the money supply is shown as a
vertical line. In the diagrams, the point where supply of money and
demand for money meet sets the interest rate—the rate that peo- ple
and businesses must pay to borrow money.The Fed can change interest
rates by changing the money supply. So, if the Fed wants a lower
interest rate, it must expand the money supply by moving the supply
curve to the right.This is shown in Panel A. If the Fed wants to
raise the interest rate, it has to con- tract the money supply by
shifting the supply curve to the left (see Panel B).
The Fed uses several tools to manipu- late the money supply. First,
the Fed can raise or lower the discount rate. The discount rate is
the rate the Fed charges member banks for loans. If the Fed wants
to stimulate the economy, it lowers the
discount rate. Low discount rates encour- age banks to borrow money
from the Fed to make loans to their customers. If the Fed wants to
slow down the economy’s rate of growth, it raises the discount rate
to dis- courage borrowing. This contracts the money supply and
raises interest rates. High discount rates mean banks will bor- row
less money from the Fed.
Second, the Fed may raise or lower the reserve requirement for
member banks. Member banks must keep a certain per- centage of
their money in Federal Reserve Banks as a reserve against their
deposits. If the Fed raises the reserve requirement, banks must
leave more money with the Fed, and they have less money to
lend.When the Fed lowers the reserve requirement, mem- ber banks
have more money to lend.
Third, the Fed can change the money supply through open market
operations. These are the purchase or sale of U.S. gov- ernment
bonds and Treasury bills. Buying
Monetary Policy and Interest Rates
Buying and selling bonds affects the money sup- ply and, then,
interest rates. What happens to interest rates when the money
supply contracts?
Demand for Money
New Money Supply
Demand for Money
New Money Supply
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Checking for Understanding
1. Key Terms Define the following terms and use them in sen- tences
related to the Federal Reserve: central bank, discount rate,
monetary policy, open mar- ket operations, Federal Open Market
Committee (FOMC).
Reviewing Main Ideas 2. Identify What is the Federal
Reserve System? 3. Describe What is the function
of the Federal Open Market Committee (FOMC)?
Critical Thinking
4. Drawing Conclusions What would Fed officials likely do if prices
rise too quickly?
5. Cause and Effect In a graphic organizer like the one below,
explain the effects of the following causes.
Analyzing Visuals
6. Interpret Study the two graphs on page 532. What happens to
interest rates when the money supply expands?
SECTION ASSESSMENT
bonds from investors puts more cash in investors’ hands, increasing
the money sup- ply.This shifts the supply curve of money to the
right, which lowers interest rates. Con- sumers and businesses
borrow more money, which increases consumer demand and business
production. As a result, the econ- omy grows. If the Fed decides
that interest rates are too low, the Fed can sell bonds.
Why Is Monetary Policy Effective? Monetary policy can be
implemented
efficiently. Decisions made by politicians often take a long time
because the views of many different people have to be taken
into
account. The Fed, however, can move quickly. The Fed can also
fine-tune its pol- icy. Fed officials can watch the results of
selling bonds or raising the discount rate. If the desired result
has not occurred, they can act again, selling even more bonds or
raising the discount rate slightly higher.
Interest rates influence business invest- ment and consumer
spending. The Fed can affect these activities by manipulating
interest rates. Finally, Fed officials are largely free of the
constraints faced by politicians.
Describing What happens when the Fed raises the reserve
requirement?
BE AN ACTIVE CITIZEN 7. Compare Contact three banks in
your community. Find out what interest rate they are charging on
loans for a three-year loan on a new car. Compare this to the
current Fed discount rate. Which is higher or lower?
Chapter 24 Money and Banking 533
Causes Effects FOMC buys U.S. government bonds
Fed sells bonds
Analyzing Visuals When too much money enters the econ- omy too
quickly, spending increases—and inflation results. To help prevent
this situation from occurring, the Federal Reserve can order banks
to increase the amount of funds they keep in reserve, thereby
“tightening” the money supply. What visual clues does the car-
toonist use to convey the con- cept of the Federal Reserve
“tightening” the money supply?
Thaves/The Cincinnati Post
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Main Idea
After people deposit their money in a savings or checking account,
banks make a profit by lending some of those deposits to other
consumers.
Key Terms
Reading Strategy
Organizing Information As you read, complete a graphic organizer
like the one below to show the main activities of banks.
Read to Learn
and make money?
How Banks Operate
Activities of Banks
“Washington Elementary School is working with the Norco branch of
the Arrowhead Credit Union on a program to get children used to
saving money. Once a month, on Savings Day, a credit union employee
visits the school to collect deposits from students adding to their
savings accounts. . . . The accounts have no monthly fee and can be
opened with a minimum of $1. Parents or guardians must sign an
application for their child to participate. . . . Fifth-grader
Sebastian Ruiz has been making deposits for months. . . . He says
he has a special reason for adding more money each month. ‘I’ve
been saving up to buy my mom a birthday present,’ he said.” —Nicole
Buzzard, Riverside, California,
Press-Enterprise, January 29, 2002
Banking Services The students at Washington Elementary School are
learn-
ing a valuable lesson. If they save their money, small amounts can
grow larger—large enough to allow them to buy something special.
Millions of Americans put their money in financial institutions,
just like these students are doing. In this section you’ll find out
what banks and other financial institutions do with that
money.
Banks are started by investors. They pool financial invest- ments,
money, property, and even certificates of deposit to provide
banking services to people in their community. If 10 investors each
put up $10,000, the new bank would have $100,000 in funds.
Some of this money, of course, would be needed to cover expenses,
such as rent, furniture and supplies, and salaries for workers. A
large portion, though, would be available to lend to consumers or
businesses.
A bank that simply relied on the funds raised by its initial
investors would not grow. It would have only a limited amount of
money available for loans. Banks need to attract depositors in
order to survive.
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A student takes part in banking.
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Accepting Deposits Banks hope to attract customers
who make deposits. They offer checking accounts, which allow
customers to write checks or use check cards. Checks can be used to
pay bills or to transfer money from one person to another quickly
and efficiently.
People typically do not keep money in checking accounts for very
long. They deposit the money and then use the funds to meet their
regular expenses—buying food, paying for telephone service, and so
on.
Sometimes people have some money that they can leave untouched for
longer periods of time. They put these funds in a different kind of
account. With savings accounts, banks pay interest to customers
based on how much money they have deposited. Because the bank pays
interest, the money in a savings account actually grows larger the
longer it is left in the bank.
Banks also offer certificates of deposit (CDs). With these
products, customers loan a certain sum to the bank for a specific
period of time. In return, the bank pays interest during that time
period. When the time period ends, the customers can turn in their
certificates and regain control of their money. They cannot
withdraw their money any sooner unless they pay a sub- stantial
penalty.
People who buy CDs lose control of their money for some time. On
the other hand, banks tend to pay higher rates for CDs than for
savings accounts.
Making Loans One of the principal activities of banks
is to lend money to businesses and con- sumers. Loans can actually
increase the supply of money.
Suppose that Maria deposits $1,000 in the bank. The bank can use
some of that money to make loans to other customers. Those people
then deposit the money they have borrowed, and that money, too, can
be loaned to new customers. In that way, the amount of money in
circulation continues to grow.
Describing What is a checking account?
Changes in the
Banking Industry The history of central banking in the
United States does not begin with the Federal Reserve. The Bank of
the United States received its charter in 1791 from the Congress
and was signed by President Washington. Like state banks, the Bank
was
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Obtaining Loans Con- sumers often need a loan from a financial
institution to make an expensive purchase. From what sources do
financial insti- tutions obtain funds to make loans?
Bob Daemmrich/Stock Boston
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Financial Services Financial institutions pro- vide a variety of
products and services to satisfy consumers’ needs. What are
certificates of deposit?
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536 Chapter 24 Money and Banking
privately owned and operated.The Bank of the United States,
however, was much larger than any of the state banks and had a
federal, rather than a state, charter. The Bank acted much like the
current Department of the Treasury in that it col- lected fees and
made payments on behalf of the federal government. The charter of
the Bank was allowed to lapse in 1811, in part because state banks
opposed the Bank.
The Second Bank of the U.S. was char- tered in 1816 with the same
powers as the First Bank. After the lapse of the Second Bank’s
charter, the only banks in the nation were those chartered by the
states.The fed- eral government neither chartered banks nor
regulated the state banks.
State banks issued their own currency by printing their notes at
local printing shops. People who wanted loans borrowed these notes
and paid them back with inter- est. Because the federal government
did not print paper currency until the Civil War, most of the money
supply was paper cur- rency that privately owned, state-chartered
banks issued.
The National Banking Act In 1863, Congress passed the
National
Banking Act. This act created the system known as dual banking, in
which banks could have either a state or federal charter. The
federally chartered private banks issued national banknotes, or
national currency, which were uniform in appearance and backed by
U.S. government bonds.
The Federal Reserve The National Banking Act corrected
some of the weaknesses of the pre-Civil War banking system. Bank
crises, however, did not disappear. Panics occurred in 1873, 1884,
1893, and 1907. The Panic of 1907 resulted in the passage of the
Federal Reserve Act of 1913.
The Federal Reserve serves as the nation’s central bank with power
to regulate reserves in national banks, make loans to member banks,
and control the growth of the money supply. In 1914 the system
began issuing paper money called Federal Reserve notes. These notes
soon became the major form of currency in circulation.
The Great Depression The Great Depression of the 1930s
dealt a severe blow to the banking industry. Stocks and other
investments owned by banks lost much of their value. Bankrupt
businesses and individuals were unable to repay their loans.
A financial panic forced thousands of banks to collapse.The number
of commer- cial banks declined from 26,000 in 1928 to about 14,000
in 1933. When Franklin D. Roosevelt became president, he declared a
“bank holiday,” closing all banks. Each bank was allowed to reopen
only after it proved it was financially sound. Congress passed the
Glass-Steagall Banking Act, establishing the Federal Deposit
Insurance Corporation (FDIC). The new agency
AP/Wide World Photos
Checking for Understanding
1. Key Terms Define the following terms and use them in sen- tences
related to the banking industry: checking account, savings account,
certificate of deposit (CD).
Reviewing Main Ideas 2. Describe What advantage do
savings accounts have over certificates of deposit?
3. Explain Why must banks keep a reserve?
Critical Thinking
4. Evaluating Information If your goal was to get the highest
inter- est rate for your savings, what kind of account would be
best?
5. Understanding Cause and Effect In a graphic organizer like the
one below, show how banks make money.
Analyzing Visuals
6. Explain Study the photograph that appears on page 535. Write a
paragraph explaining what is happening in the picture.
SECTION ASSESSMENT
helped restore public confidence in banks by insuring funds of
individual depositors in case of a bank failure.
The Savings and Loan Crisis Because of the many banking
failures
during the Great Depression, financial institutions had been
closely regulated by the federal government. By the late 1970s
almost all financial institutions were begging for relief from
federal regulations. Congress began the process of deregula-
tion—relaxing restrictions on their activities.
In 1982 Congress decided to allow the S&Ls to make higher-risk
loans and invest- ments. When these investments went bad, hundreds
of S&Ls failed in the late 1980s and early 1990s. The federal
government insured the assets of most savings and loan depositors;
and as the banks failed, it found itself saddled with large
debts.The full cost of bailing out these institutions cost taxpay-
ers an estimated $200 billion. The FDIC took over regulation of the
S&L industry.
The Gramm-Leach-Bliley Act The Gramm-Leach-Bliley Act, passed
in 1999, permits bank holding companies greater freedom to engage
in a full range
of financial services, including banking, insurance, and
securities. Some analysts believe that the act will lead to the
forma- tion of “universal banks” that offer a full range of
financial services. Critics of the law warn that the act may in due
course weaken competition for financial services in the United
States. Others caution that the act will lead to more sharing of
customer information among the affili- ated companies, therefore
damaging pro- tection of privacy.
Explaining Why did deposit insurance develop in the 1930s?
BE AN ACTIVE CITIZEN 7. Compare Obtain brochures from
at least three banks that explain the banks’ services to customers.
How are they alike? How are they different?
Chapter 24 Money and Banking 537
Debit Cards Debit cards look like credit cards, but they work a lot
differently. Instead of purchasing goods on credit, the debit card
transfers money directly from the cardholder’s bank account to the
seller’s account. Debit cards work on the principle of “buy now,
pay now.” Talk with several people who have both a debit card and a
credit card. Ask them to discuss the pros and cons of each type of
card. Present your findings in the form of a chart.
What Banks Do: Result:
and click on Study CentralTM.civ.glencoe.com
534-539 U7 CH24 S3 CT-874574 9/29/05 5:02 PM Page 537
GCIV-537
null
127.42265
civ.glencoe.com
Reviewing Key Terms Write the key term that best matches each
definition below.
1. the policy that involves changing the rate of growth of the
supply of money in circulation
2. a bank whose main functions are to accept deposits and lend
money
3. a certain percentage of deposits that banks have to set aside as
cash in their own vaults or as deposits in their Federal Reserve
dis- trict bank
4. paper money issued by the Federal Reserve
5. the most powerful agency of the Federal Reserve System
6. financial institutions that traditionally loaned money to people
buying houses
7. a federal corporation that insures individual accounts in
financial institutions up to $100,000
8. a bank that can lend money to other banks in times of need
9. the interest rate the Federal Reserve charges on its loans
10. an account in which customers receive inter- est based on how
much money they have deposited
Reviewing Main Ideas 11. Name two forms of money in addition
to
currency and coin.
12. What is the purpose of the Federal Deposit Insurance
Corporation (FDIC)?
13. Who controls the Federal Reserve System?
14. What are the two main regulatory functions of the Fed?
15. What kind of account requires the deposit to remain in the bank
for a certain period of time?
16. In what kind of account do savers have the most control over
their money?
Section 1
• Money is a part of the broad financial system, and it serves
three functions. It is a medium of exchange, a store of value, and
a measure of value.
Section 3
• Banks provide services to consumers, such as savings and checking
accounts, and they make a profit by lending money to
consumers.
Using Your Foldables Study Organizer Use your completed foldable to
create a 10-question quiz. Prepare an answer key on a separate
sheet of paper. Trade quizzes with a classmate and then grade each
other’s answers.
538
Section 2
• The Federal Reserve wields a great deal of power in our economy.
It serves as the nation’s central bank, it controls monetary
policy, and it regulates com- mercial banks.
534-539 U7 CH24 S3 CT-860970 11/26/03 6:23 PM Page 538
(t)Russell D. Curtis/Photo Researchers, (c)Mark Burnett/Stock
Boston, (b)AP/Wide World Photos
Critical Thinking 17. Drawing Conclusions If you read in the
newspaper that the Federal Reserve had just lowered the discount
rate, what might you conclude about the economy?
18. Organizing Information In a graphic organizer like the one
below, explain the reasons for the Federal Reserve’s effective-
ness in using monetary policy.
Practicing Skills 19. Reading a Time Zone Map Study the map
on page 528. It takes two hours to fly from Denver, Colorado, in
the mountain time zone to Chicago, Illinois, in the central time
zone. If you leave Denver at 2 A.M. Friday, what time will it be in
Chicago when you arrive?
Analyzing Visuals 20. Look at the graphs on page 532. What
effect
does selling bonds have on interest rates?
Economics Activity 21. For two days, keep track of any time you
use
money, see money used, or see dollar val- ues written out
somewhere. Try to determine in each instance which of the functions
the money is serving.
22. During the 1930s, the United States under- went a tragic
economic depression. Work in groups to research the following
aspects of daily life.
• What happened to income and prices? • What happened to savings
accounts? • What happened to the availability of jobs?
Each member of your group should research one of the three
questions. Then summarize the group’s notes to develop a
presentation that describes what actually happened during the Great
Depression.
Technology Activity 23. On the Internet, go to the Federal
Reserve
education Web site at www.federalreserve education.org/. From the
“Resources and Research” section, click on “Economic Literacy
Program.” On the right side of the Web page under “Test Yourself,”
click on “Mpls. Fed’s economic literacy quiz.” Take the quiz and
see how you do. What did you learn about the economy by taking the
test?
Self-Check Quiz Visit the Civics Today Web site at civ.glencoe.com
and click on Self-Check Quizzes— Chapter 24 to prepare for the
chapter test.
Standardized Test Practice
Directions: Choose the best answer to the following question.
If the reserve requirement is 5 percent, how much of a $100 deposit
may a bank lend? F $5 G $95 H $100 J $50
Test-Taking Tip Remember that a reserve requirement is the
percentage of a deposit that a bank must put aside and not use for
loans.
Chapter 24 Money and Banking 539
Reasons for Effectiveness of the Fed’s Monetary Policy
534-539 U7 CH24 S3 CT-874574 9/30/05 2:11 PM Page 539
Table of Contents
Previewing Your Textbook
Reading Skills Handbook
Reading for a Reason
Understanding What You Read
Thinking About Your Reading
Chapter 1: Citizenship and Government in a Democracy
Section 1: Government of the People, by the People, for the
People
Section 2: The Path to Citizenship
Section 3: The Diversity of Americans
Chapter 1 Assessment & Activities
Section 1: Our English Heritage
Section 2: The Birth of a Democratic Nation
Section 3: The Nation's First Governments
The Declaration of Independence
Chapter 2 Assessment & Activities
Chapter 3: The Constitution
The Constitution of the United States
Section 3: The Structure of the Constitution
Section 4: Principles Underlying the Constitution
Chapter 3 Assessment & Activities
Section 1: The First Amendment
Section 2: Other Guarantees in the Bill of Rights
Section 3: Extending the Bill of Rights
Section 4: The Civil Rights Struggle
Chapter 4 Assessment & Activities
Section 1: The Duties and Responsibilities of Citizenship
Section 2: Volunteering in Your Community
Chapter 5 Assessment & Activities
Chapter 6: Congress
Section 3: Representing the People
Section 4: How a Bill Becomes a Law
Chapter 6 Assessment & Activities
Section 1: The President and Vice President
Section 2: The President's Job
Section 3: Making Foreign Policy
Section 4: Presidential Advisers and Executive Agencies
Chapter 7 Assessment & Activities
Section 1: The Federal Court System
Section 2: How Federal Courts Are Organized
Section 3: The United States Supreme Court
Section 4: Deciding Cases at the Supreme Court
Chapter 8 Assessment & Activities
Chapter 9: Political Parties and Politics
Section 1: Development of American Political Parties
Section 2: Organization of American Political Parties
Section 3: Role of Political Parties Today
Chapter 9 Assessment & Activities
Section 2: Election Campaigns
Chapter 10 Assessment & Activities
Chapter 11: Influencing Government
Section 1: Public Opinion
Section 3: Interest Groups
Chapter 11 Assessment & Activities
Chapter 12: State Government
Section 2: The State Legislative Branch
Section 3: The State Executive Branch
Section 4: The State Judicial Branch
Chapter 12 Assessment & Activities
Chapter 13: Local Government
Section 1: City Government
Section 2: County Governments
Chapter 13 Assessment & Activities
Section 1: How a Community Handles Issues
Section 2: Education and Social Issues
Section 3: Environmental Issues
Chapter 14 Assessment & Activities
Chapter 15: Legal Rights and Responsibilities
Section 1: The Sources of Our Laws
Section 2: Types of Laws
Section 3: The American Legal System
Chapter 15 Assessment & Activities
Section 1: Civil Cases
Section 2: Criminal Cases
Chapter 16 Assessment & Activities
Section 1: Civic Participation
Chapter 17 Assessment & Activities
Chapter 18: What Is Economics?
Section 1: The Fundamental Economic Problem
Section 2: Making Economic Decisions
Section 3: Being an Economically Smart Citizen
Chapter 18 Assessment & Activities
Section 1: Economic Resources
Chapter 19 Assessment & Activities
Chapter 20 Assessment & Activities
Chapter 21 Assessment & Activities
Section 2: Labor Unions
Chapter 22 Assessment & Activities
Section 2: Measuring the Economy
Section 3: Government, the Economy, and You
Chapter 23 Assessment & Activities
Section 2: The Federal Reserve System
Section 3: How Banks Operate
Chapter 24 Assessment & Activities
Chapter 25: Government Finances
Section 2: State and Local Governments
Section 3: Managing the Economy
Chapter 25 Assessment & Activities
Chapter 26: Comparing Economic Systems
Section 1: International Trade and Its Benefits
Section 2: Economic Systems
Chapter 26 Assessment & Activities
Section 1: Types of Government
Section 2: A Profile of Great Britain
Section 3: A Profile of China
Chapter 27 Assessment & Activities
Section 1: Global Developments
Section 3: Democracy and Human Rights
Chapter 28 Assessment & Activities
What Is an Appendix and How Do I Use One?
Honoring America
Careers Handbook
United States Facts
Documents of American History
Supreme Court Case Summaries
Fact Fiction Folklore
American Biographies
Charts, Graphs, and Maps
Chapter 1: Citizenship and Government in a Democracy
Section 1: Government of the People, by the People, for the
People
Section 2: The Path to Citizenship
Section 3: The Diversity of Americans
Chapter 2: Roots of American Democracy
Section 1: Our English Heritage
Section 2: The Birth of a Democratic Nation
Section 3: The Nation's First Governments
Chapter 3: The Constitution
Section 4: Principles Underlying the Constitution
Chapter 4: The Bill of Rights
Section 1: The First Amendment
Section 2: Other Guarantees in the Bill of Rights
Section 3: Extending the Bill of Rights
Section 4: The Civil Rights Struggle
Chapter 5: The Citizen and the Community
Section 1: The Duties and Responsibilities of Citizenship
Section 2: Volunteering in Your Community
Chapter 6: Congress
Section 3: Representing the People
Section 4: How a Bill Becomes a Law
Chapter 7: The President and the Executive Branch
Section 1: The President and Vice President
Section 2: The President's Job
Section 3: Making Foreign Policy
Section 4: Presidential Advisers and Executive Agencies
Chapter 8: The Judicial Branch
Section 1: The Federal Court System
Section 2: How Federal Courts Are Organized
Section 3: The United States Supreme Court
Section 4: Deciding Cases at the Supreme Court
Chapter 9: Political Parties and Politics
Section 1: Development of American Political Parties
Section 2: Organization of American Political Parties
Section 3: Role of Political Parties Today
Chapter 10: Voting and Elections
Section 1: Who Can Vote?
Section 2: Election Campaigns
Chapter 11: Influencing Government
Section 1: Public Opinion
Section 3: Interest Groups
Chapter 12: State Government
Section 2: The State Legislative Branch
Section 3: The State Executive Branch
Section 4: The State Judicial Branch
Chapter 13: Local Government
Section 1: City Government
Section 2: County Governments
Section 1: How a Community Handles Issues
Section 2: Education and Social Issues
Section 3: Environmental Issues
Section 1: The Sources of Our Laws
Section 2: Types of Laws
Section 3: The American Legal System
Chapter 16: Civil and Criminal Law
Section 1: Civil Cases
Section 2: Criminal Cases
Chapter 17: Citizenship and the Internet
Section 1: Civic Participation
Section 1: The Fundamental Economic Problem
Section 2: Making Economic Decisions
Section 3: Being an Economically Smart Citizen
Chapter 19: The American Economy
Section 1: Economic Resources
Chapter 20: Demand
Chapter 21: Supply
Section 2: Labor Unions
Section 2: Measuring the Economy
Section 3: Government, the Economy, and You
Chapter 24: Money and Banking
Section 1: What Is Money?
Section 2: The Federal Reserve System
Section 3: How Banks Operate
Chapter 25: Government Finances
Section 2: State and Local Governments
Section 3: Managing the Economy
Chapter 26: Comparing Economic Systems
Section 1: International Trade and Its Benefits
Section 2: Economic Systems
Chapter 27: Comparing Systems of Government
Section 1: Types of Government
Section 2: A Profile of Great Britain
Section 3: A Profile of China
Chapter 28: An Interdependent World
Section 1: Global Developments
Section 3: Democracy and Human Rights
Haitian Creole Summaries
Chapit 2: Rasin Demokrasi Ameriken an
Chapit 3: Konstitisyon an
Chapit 5: Sitwayen an ak Kominote a
Chapit 6: Kongrè a
Chapit 8: Branch Jidisyè a
Chapit 9: Pati Politik ak Politik
Chapit 10: Vòt ak Eleksyon
Chapit 11: Enfliyans Gouvènman an
Chapit 12: Gouvènman Deta a
Chapit 13: Gouvènman Lokal
Chapit 15: Dwa ak Responsabilite devan Lalwa
Chapit 16: Lwa Sivil ak Kriminèl
Chapit 17: Sitwayènte ak Entènet la
Chapit 18: Ki sa yo rele Syans Ekonomik?
Chapit 19: Ekonomi Ameriken an
Chapit 20: Demann
Chapit 23: Gouvènman an ak Ekonomi an
Chapit 24: Lajan ak Operasyon Bankè
Chapit 25: Finans Gouvènman
Chapit 28: Yon Monn Entèdepandan
Reading Essentials and Study Guide - Student Edition
Chapter 1: Citizenship and Government in a Democracy
Section 1: Government of the People, by the People, for the
People
Section 2: The Path to Citizenship
Section 3: The Diversity of Americans
Chapter 2: Roots of American Democracy
Section 1: Our English Heritage
Section 2: The Birth of a Democratic Nation
Section 3: The Nation's First Governments
Chapter 3: The Constitution
Section 4: Principles Underlying the Constitution
Chapter 4: The Bill of Rights
Section 1: The First Amendment
Section 2: Other Guarantees in the Bill of Rights
Section 3: Extending the Bill of Rights
Section 4: The Civil Rights Struggle
Chapter 5: The Citizen and the Community
Section 1: The Duties and Responsibilities of Citizenship
Section 2: Volunteering in Your Community
Chapter 6: Congress
Section 3: Representing the People
Section 4: How a Bill Becomes a Law
Chapter 7: The President and the Executive Branch
Section 1: The President and Vice President
Section 2: The President's Job
Section 3: Making Foreign Policy
Section 4: Presidential Advisers and Executive Agencies
Chapter 8: The Judicial Branch
Section 1: The Federal Court System
Section 2: How Federal Courts Are Organized
Section 3: The United States Supreme Court
Section 4: Deciding Cases at the Supreme Court
Chapter 9: Political Parties and Politics
Section 1: Development of American Political Parties
Section 2: Organization of American Political Parties
Section 3: Role of Political Parties Today
Chapter 10: Voting and Elections
Section 1: Who Can Vote?
Section 2: Election Campaigns
Chapter 11: Influencing Government
Section 1: Public Opinion
Section 3: Interest Groups
Chapter 12: State Government
Section 2: The State Legislative Branch
Section 3: The State Executive Branch
Section 4: The State Judicial Branch
Chapter 13: Local Government
Section 1: City Government
Section 2: County Governments
Section 1: How a Community Handles Issues
Section 2: Education and Social Issues
Section 3: Environmental Issues
Section 1: The Sources of Our Laws
Section 2: Types of Laws
Section 3: The American Legal System
Chapter 16: Civil and Criminal Law
Section 1: Civil Cases
Section 2: Criminal Cases
Chapter 17: Citizenship and the Internet
Section 1: Civic Participation
Section 1: The Fundamental Economic Problem
Section 2: Making Economic Decisions
Section 3: Being an Economically Smart Citizen
Chapter 19: The American Economy
Section 1: Economic Resources
Chapter 20: Demand
Chapter 21: Supply
Section 2: Labor Unions
Section 2: Measuring the Economy
Section 3: Government, the Economy, and You
Chapter 24: Money and Banking
Section 1: What Is Money?
Section 2: The Federal Reserve System
Section 3: How Banks Operate
Chapter 25: Government Finances
Section 2: State and Local Governments
Section 3: Managing the Economy
Chapter 26: Comparing Economic Systems
Section 1: International Trade and Its Benefits
Section 2: Economic Systems
Chapter 27: Comparing Systems of Government
Section 1: Types of Government
Section 2: A Profile of Great Britain
Section 3: A Profile of China
Chapter 28: An Interdependent World
Section 1: Global Developments
Section 3: Democracy and Human Rights
Spanish Reading Essentials and Study Guide - Student Edition
Capítulo 1: La ciudadanía y el gobierno en una democracia
Sección 1: Gobierno del pueblo, por el pueblo y para el
pueblo
Sección 2: El camino a la ciudadanía
Sección 3: La diversidad de los estadounidenses
Capítulo 2: Las raíces de la democracia estadounidenses
Sección 1: Nuestra herencia inglesa
Sección 2: El nacimiento de una nación democrática
Sección 3: Los primeros gobiernos de la nación
Capítulo 3: La Constitución
Sección 2: La creación y la ratificación de la Constitución
Sección 3: La estructura de la Constitución
Sección 4: Los principios de la Constitución
Capítulo 4: La Declaración de Derechos
Sección 1: La Primera Enmienda
Sección 2: Otras garantías de la Declaración de Derechos
Sección 3: Ampliación de la Declaración de Derechos
Sección 4: La lucha por los derechos civiles
Capítulo 5: El ciudadano y la comunidad
Sección 1: Los deberes y las responsabilidades de la
ciudadanía
Sección 2: El trabajo voluntario en tu comunidad
Capítulo 6: El gobierno nacional
Sección 1: Cómo está organizado el Congreso
Sección 2: Las facultades del Congreso
Sección 3: La representación del pueblo
Sección 4: Cómo se convierte en ley un proyecto legislativo
Capítulo 7: El presidente y el poder ejecutivo
Sección 1: El presidente y el vicepresidente
Sección 2: El trabajo del presidente
Sección 3: La política exterior
Sección 4: Los consejeros presidenciales y las dependencias del
ejecutivo
Capítulo 8: El poder judicial
Sección 1: El sistema de tribunales federales
Sección 2: Cómo están organizados los tribunales federales
Sección 3: La Corte Suprema de Estados Unidos
Sección 4: Cómo se deciden los casos en la Corte Suprema
Capítulo 9: Los partidos políticos y la política
Sección 1: Surgimiento de los partidos políticos
estadounidenses
Sección 2: Organización de los partidos políticos
estadounidenses
Sección 3: Función de los partidos políticos en la actualidad
Capítulo 10: Votación y elecciones
Sección 1: ¿Quién puede votar?
Sección 2: Campañas electorales
Capítulo 11: Influencias del gobierno
Sección 1: La opinión pública
Sección 2: Los medios de comunicación
Sección 3: Los grupos de presión
Capítulo 12: El gobierno estatal
Sección 1: El sistema federal
Sección 2: El poder legislativo estatal
Sección 3: El poder ejecutivo estatal
Sección 4: El poder judicial estatal
Capítulo 13: Gobierno local
Sección 2: Gobiernos condales
Sección 1: Cómo maneja sus asuntos una comunidad
Sección 2: Asuntos educativos y sociales
Sección 3: Asuntos ambientales
Sección 1: El origen de nuestras leyes
Sección 2: Clases de derecho
Sección 3: El sistema legal estadounidense
Capítulo 16: Derecho civil y penal
Sección 1: Casos civiles
Sección 2: Casos penales
Capítulo 17: La ciudadanía y la Internet
Sección 1: La participación cívica
Sección 2: Retos de la democracia
Section 3: Regulación de internet
Capítulo 18: La economía y el individuo
Sección 1: El problema económico fundamental
Sección 2: Las decisiones económicas
Sección 3: Cómo ser un ciudadano que sabe economía
Capítulo 19: La economía estadounidense
Sección 1: Recursos económicos
Capítulo 20: La demanda
Sección 2: Factores que influyen en la demanda
Capítulo 21: Oferta
Sección 2: Factores que influyen en la oferta
Sección 3: Mercados y precios
Capítulo 22: Empresas y Trabajadores
Sección 1: Clases de empresas
Sección 2: Sindicatos de trabajadores
Sección 3: Las empresas en nuestra economía
Capítulo 23: El gobierno y la economía
Sección 1: El papel del gobierno
Sección 2: Cómo se mide la economía
Sección 3: El gobierno, la economía y tú
Capítulo 24: El dinero y los bancos
Sección 1: Qué es el dinero
Sección 2: El sistema de la Reserva Federal
Sección 3: Cómo funcionan los bancos
Capítulo 25: Finanzas del gobierno
Sección 1: El gobierno federal
Sección 2: Gobiernos estatales y locales
Sección 3: El manejo de la economía
Capítulo 26: Comparación de sistemas económicos
Sección 1: El comercio internacional y sus ventajas
Sección 2: Sistemas económicos
Capítulo 27: Comparación de sistemas de gobierno
Sección 1: Clases de gobierno
Sección 2: Un perfil de Gran Bretaña
Sección 3: Un perfil de China
Capítulo 28: Un mundo interdependiente
Sección 1: Acontecimientos mundiales
Sección 3: Democracia y derechos humanos
Spanish Summaries
Capítulo 1: La ciudadanía y el gobierno en una democracia
Capítulo 2: Las raíces de la democracia estadounidenses
Capítulo 3: La Constitución
Capítulo 5: El ciudadano y la comunidad
Capítulo 6: El gobierno nacional
Capítulo 7: El presidente y el poder ejecutivo
Capítulo 8: El poder judicial
Capítulo 9: Los partidos políticos y la política
Capítulo 10: Votación y elecciones
Capítulo 11: Influencias del gobierno
Capítulo 12: El gobierno estatal
Capítulo 13: Gobierno local
Capítulo 17: La ciudadanía y la Internet
Capítulo 18: La economía y el individuo
Capítulo 19: La economía estadounidense
Capítulo 20: La demanda
Capítulo 23: El gobierno y la economía
Capítulo 24: El dinero y los bancos
Capítulo 25: Finanzas del gobierno
Capítulo 26: Comparación de sistemas económicos
Capítulo 27: Comparación de sistemas de gobierno
Capítulo 28: Un mundo interdependiente
Standardized Test Skills Practice Workbook - Student Edition
Activity 1: Interpreting Charts and Tables
Activity 2: Using Time Lines
Activity 3: Interpreting Diagrams
Activity 6: Using a Bar Graph to Interpret Data
Activity 7: Interpreting Graphs
Activity 10: Making Inferences
Activity 12: Persuasive Writing About an Issue
Activity 13: Recognizing Point of View
Activity 14: Forming Hypotheses
Activity 16: Distinguishing Between Fact and Nonfact
Activity 17: Evaluating a Web Site
Activity 18: Making Decisions
Activity 19: Predicting Outcomes
Activity 22: Constructing Bar Graphs to Analyze Data
Activity 23: Interpreting and Evaluating Editorials
Activity 24: Outlining Information for Writing
Activity 25: Analyzing Statistics to Draw Conclusions
Activity 26: Making Generalizations
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