1. Chapter 7 Vocabulary

2. An action or a decision that later serves as an example
Precedent:
An action or a decision that later serves as an example
Call me,
“Mr. President”.

3. The total amount of money owed by a country to its lenders.
National debt:
The total amount of money owed by a country to its lenders.

4. Economy:
the process or system by which goods and services are produced, sold, and bought in a country or region

5. Bonds:
A certificate that represents money the government has borrowed from private citizens

6. Speculators:
An investor who buys an item at low prices in hope that their values will rise.

7. Strict construction:
A way of interpreting the Constitution in which the government can only use the powers outlined in the Constitution.

8. Loose construction:
A way of interpreting the Constitution that allows the government to take actions the Constitution does not specifically forbid

9. Bank of the United States
A national bank
chartered( to create a corporation) by Congress in 1791 to provide security for the United States economy

10. Neutral:
Unbiased, not favoring either side of a conflict

11. Political parties:
A group of people who organize to help elect government officials and influence government policies.