A witty saying proves nothing. - Voltaire

I

Immigration:

Entering a country of which one is not a native usually for permanent residence; New Immigrant refers to immigration from Asia, Latin America, and Eastern Europe after 1980.

Impeach:

To formally accuse a federal official of a wrongdoing.

Imperialism:

A policy in which stronger nations attempt to create empires by dominating weaker nations economically, politically, or militarily; also called expansionism.

Implied Powers:

Those powers of the government inferred from the expressed powers: those necessary and proper to carry out the expressed powers.

Import(s):

A good or service produced abroad and sold domestically.

Incentive(s):

A reward that encourages or a penalty that discourages.

Income:

Money or its equivalent received in exchange for labor, for services, from the sale of goods or property, or as earnings on savings.

Industrial Revolution:

A period of major economic change characterized by changing technology, machine production, and the concentration of workers in urban areas.

Industrialization:

The establishment of an economic and social system characterized by large industries, machine production, and the concentration of workers in urban areas.

Inflation:

An increase in the general level of prices.

Institutions:

Systems or methods of organizing activities.

Interdependence:

The need for individuals and firms to rely on each other as a result of specialization.

Interest:

A cost of borrowing money or a benefit of saving money.

Interest Groups:

Organized bodies of individuals who share goals and try to influence public policy to meet those goals.

Interest Rate(s):

The price (stated as a percentage) paid when money is borrowed, or the price (stated as a percentage) received when money is saved.

Intermediate Directions:

The points of the compass that fall between north and east, north and west, south and east, and south and west (such as NE, NW, SE, SW).

International Dateline:

An imaginary line through the Pacific Ocean, corresponding with 180 degrees longitude, to the east of which, by international agreement, the calendar date is one day earlier than to the west.

Invention:

A new process, technique, or product.

Investment(s):

In everyday language, money that is invested with an expectation of profit; but in economics, it is money spent on tools or training that results in an increase in labor productivity.