| A | B |
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| What word means “having unlimited wants and needs but limited resources”? | scarcity |
| What term is used to describe the value of an alternative that is not chosen? | opportunity cost |
| What type of investment scam is used to get investors to put money into a pyramid that doesn't actually pay out as it promised? | Ponzi or "pyramid" scheme |
| Where can a person report a business that has defrauded them? | Attorney General (state) or Federal Trade Commission (federal) |
| What is it called when a person makes a profit by selling shares of stock at a higher price than they paid for them? | capital gain |
| How do banks make a profit? | charging interest to borrowers |
| What do individuals buy to protect their property and assets from accidents and liability? | insurance |
| What figure is used to inform a borrower of the total annual percentage cost of a loan or other form of credit? | annual percentage rate (APR) |
| What form of money can be used to purchase something now and pay for it later on a monthly basis? | credit |
| What is the disadvantage of using credit? | increased debt |
| What do payroll taxes pay for? | Social Security and Medicare |
| Which taxes are withheld from an employee's paycheck? | payroll and income taxes |
| Which type of insurance is required to operate a motor vehicle in North Carolina? | liability |
| What do lenders look at to determine the risk involved in making a loan to a borrower? | credit score |
| What do you call a fund operated by a professional money manager who selects a large and diverse group of stocks? | mutual fund |
| What figure tells an investor how much profit they will be paid by the company if they purchase and hold the stock? | dividend |
| What is it called when a person receives an email that looks real in order to get the person to release their personal information? | phishing |
| What do you call the amount of money that exists in a person's account? | balance |
| What do you call the total amount of a person's pay after taxes and deduction have been withheld? | net pay |
| What is the amount that a borrower owes called? | debt |
| Which type of investment has the most risk/most reward and by enabling a person to buy shares in a corporation? | stock |
| What is the monthly/annual bill called that a person pays for buying insurance? | premium |
| What was guaranteed under the NC Constitution by the NC Supreme Court's ruling in the case of Leandro v. North Carolina? | right to a public education |
| What does the North Carolina General Assembly do? | make the state's laws, set the state budget |
| What are the duties of the governor? | carry out the state laws, propose a budget, appoint state officials |
| Which state government official is elected to oversee law enforcement in North Carolina? | attorney general |
| What is the primary source of revenue for the state of North Carolina? | state income taxes |
| What type of tax do counties and municipalities in North Carolina rely on for most of their revenue? | property tax |
| What public services do state and local governments spend the largest portion of their budget on? | education and health & human services (public welfare) |
| Who is elected to adopt a budget, make ordinances, and set local property tax rates for the county? | county board of commissioners |
| Which public official is appointed to administer the county government? | county manager |
| Who is elected to adopt a budget and make ordinances for the city? | city council |
| Which public official is appointed to carry out the city council’s policies and oversee the operations of the city government? | city manager |
| What term is defined as “the rules for land use that are set by a local county or municipal government”? | zoning |
| What process enables a municipality to expand its territory? | annexation |
| Which body is elected to establish public schools, hire teachers, and set policies for the local school district? | Board of Education |
| Who sets the graduation requirements and curriculum standards for public schools in the state of North Carolina? | State Board of Education |
| Which tax used by state and local governments is regressive? | sales tax |
| How do state and local government borrow money to build large projects like schools and stadiums? | bonds |
| What process is used to approve of amendments to the N.C. Constitution and bond issues for funding schools and other public construction projects? | referendum |
| Which amendment to the U.S. Constitution extends due process rights to the citizens of a state? | Fourteenth Amendment |
| Which public official is elected to provide county law enforcement? | Sheriff |
| Which power gives an executive such as the president or a governor the authority to officially forgive an individual for a crime? | pardon |
| Which power of the president can be used to forbid a bill passed by Congress? | veto |
| What power can the president use to instruct a government agency how to carry out a law? | executive order |
| Which power refers to the president's ability to direct the nation's armed forces? | commander-in-chief |
| Which power refers to the president's authority to carry out the law | chief executive |
| Which federal government agencies have the duty of protecting national security? | Central Intelligence Agency (CIA), Department of Homeland Security, Department of Defense |
| Which government officials does the president have the power to appoint? | federal judges, ambassadors, heads of executive departments/agencies |
| Which federal government agency provides population information so that legislative seats can be re-apportioned every ten years? | the Census Bureau |
| What cabinet-level department is responsible for federal law enforcement? | U.S. Department of Justice |
| Which government agency investigates and apprehends persons suspected of committing federal crimes? | Federal Bureau of Investigation (FBI) |
| Who has the power to block the president's appointments to the federal courts, executive departments and other government agencies? | the Senate |
| Which executive agency makes and enforces regulations to protect the environment? | Environmental Protection Agency (EPA) |
| Which executive agency makes and enforces regulations to ensure the safety of the nation's food and medicine? | Food and Drug Administration (FDA) |
| Which cabinet-level department is responsible for preventing and responding to terrorist attacks and natural disasters? | Department of Homeland Security |
| What are the 15 department heads called that provide advice and assistance to the president in carrying out the law? | the cabinet |
| Which government agency was created to prohibit unfair business practices such as false advertising, monopolies and price-fixing? | Federal Trade Commission (FTC) |
| Which cabinet-level department carries out the nation's foreign policy? | Department of State/State Department |
| What is the primary duty of the judicial branch? | interpret or apply the law |
| What is the trial court for most cases in the federal court system? | U.S. District Court |
| What is the highest court in the U.S. legal system? | U.S. Supreme Court |
| What cases are heard in the federal courts? | cases involving the U.S. Constitution, federal law, the U.S. government, cases involving U.S. law, disputes between two states or between citizens of two different states |
| Which court in the N.C. legal system hears appeals for cases involving the death penalty and the N.C. Constitution? | N.C. Supreme Court |
| Which N.C. court is the trial court where cases involving felonies and lawsuits over $25,000 are heard? | N.C. Superior Court |
| Which N.C. court is the trial court for misdemeanors and lawsuits involving amounts less than $25,000? | N.C. District Court |
| How are judges selected in the North Carolina court system? | elected |
| How are judges in the federal court system selected? | appointed by the President |
| Who is responsible for the confirmation process to approve (or block) the appointment of federal judges to the courts? | U.S. Senate |
| What does a law enforcement officer need to have before they can arrest a criminal suspect? | probable cause |
| What do you call the party that files charges against another party in court? | plaintiff |
| What do you call the party that is charged with a crime or wrongdoing? | defendant |
| In the judicial process, who has the authority to indict a criminal suspect for a felony crime? | grand jury |
| Who is elected to represent the state as the plaintiff in a criminal case? | prosecutor/district attorney |
| What is a lighter sentence offered in exchange for a guilty plea called? | plea bargain |
| What do you call a complaint filed against a defendant in a civil case? | civil suit/lawsuit |
| Who decides whether a suspect is guilty in a felony criminal case? | jury |
| Who is responsible for law enforcement in the county? | Sheriff's Department |
| Who is responsible for law enforcement within a city? | Police Department |
| What is a conditional release that sets certain requirements on a person convicted of a crime? | probation |
| What is it called when a convicted criminal is given an early release from prison for good behavior? | parole |
| What is the primary goal of the juvenile justice system? | rehabilitation |
| What types of punishments are most likely for a person convicted of a misdemeanor? | community service, fines |
| Which type of investment has almost no risk but very little reward because it pays such a low rate of return? | Certificate of Deposit/CD's (cash) |
| Which type of investment enables a person to loan their money to the government and receive interest payments for their investment? | bonds |
