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Opening Activity: Begin by breaking students into groups of five. Ask them to review the scenario below
and work with their team to answer the questions. Remind them to identify and gain agreement on
their assumptions behind each answer. Compare and contrast answers among the groups—you may be
surprised at the wide range of ideas. As you move through the chapter, you can refer back to the
students’ ideas to illustrate key points.
Scenario: Your team runs a small food market in an up-and-coming urban neighborhood. Your main
source of income is custom-blended teas and coffees, which you also sell to some nearby restaurants.
You have just learned that a national upscale grocery chain is about to open a branch in the
neighborhood. This chain sells its own specially blended coffees and teas, and its branches also sell them
to local restaurants for less money than you charge for your own store brands. How should you
respond? Clarify your assumptions as you answer each of the questions below.
How do the characteristics of the neighborhood affect your business?
How will the branch of the national chain affect your business? Why?
Should you adjust your prices? Why? How?
What other steps should you take to increase demand for your coffees and teas? Why?
Slide 1 Slide 2
Encourage students to look for the answers to these questions as you move through the lecture.
Slide 3
© 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. LO – 15
Slide 4
Slide 5
Slide 6
LO – 16 © 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Lecture Outline / Chapter 2
Slide 7
Slide 8
Be sure that students know how the Fed would use each
tool in the face of either inflation or recession. Regarding
the check-clearing process, explain that the Check
Clearing for the Twenty-First Century Act, which became
effective in 2004, allows banks to process checks
electronically.
Slide 9
© 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. LO – 17
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of labor statistics established, factories, mines, and workshops
inspected, the employment of children under fourteen years of age
forbidden, and wages paid in cash.
Fourth. Slavery being simply cheap labor, and cheap labor being
simply slavery, the importation and presence of Chinese serfs
necessarily tends to brutalize and degrade American labor; therefore,
immediate steps should be taken to abrogate the Burlingame treaty.
Fifth. Railroad land grants forfeited by reason of non-fulfillment of
contract should be immediately reclaimed by the government, and,
henceforth, the public domain reserved exclusively as homes for
actual settlers.
Sixth. It is the duty of Congress to regulate inter-state commerce.
All lines of communication and transportation should be brought
under such legislative control as shall secure moderate, fair, and
uniform rates for passenger and freight traffic.
Seventh. We denounce as destructive to property and dangerous to
liberty the action of the old parties in fostering and sustaining
gigantic land, railroad, and money corporations, and monopolies
invested with and exercising powers belonging to the government,
and yet not responsible to it for the manner of their exercise.
Eighth. That the constitution, in giving Congress the power to
borrow money, to declare war, to raise and support armies, to
provide and maintain a navy, never intended that the men who
loaned their money for an interest-consideration should be preferred
to the soldiers and sailors who periled their lives and shed their
blood on land and sea in defense of their country; and we condemn
the cruel class legislation of the Republican party, which, while
professing great gratitude to the soldier, has most unjustly
discriminated against him and in favor of the bondholder.
Ninth. All property should bear its just proportion of taxation, and
we demand a graduated income tax.
Tenth. We denounce as dangerous the efforts everywhere manifest
to restrict the right of suffrage.
Eleventh. We are opposed to an increase of the standing army in
time of peace, and the insidious scheme to establish an enormous
military power under the guise of militia laws.
Twelfth. We demand absolute democratic rules for the
government of Congress, placing all representatives of the people
upon an equal footing, and taking away from committees a veto
power greater than that of the President.
Thirteenth. We demand a government of the people, by the people,
and for the people, instead of a government of the bondholder, by the
bondholder, and for the bondholder; and we denounce every attempt
to stir up sectional strife as an effort to conceal monstrous crimes
against the people.
Fourteenth. In the furtherance of these ends we ask the co-
operation of all fair-minded people. We have no quarrel with
individuals, wage no war on classes, but only against vicious
institutions. We are not content to endure further discipline from our
present actual rulers, who, having dominion over money, over
transportation, over land and labor, over the press and the
machinery of government, wield unwarrantable power over our
institutions and over life and property.
1880.—Democratic Platform,
Virginia Readjuster.
Virginia Democratic.
1884—Democratic Platform.
1884.—Republican Platform.