| A | B |
|---|
| The work done by humans is an example of which factor of production? | labor |
| Tools, machines, money and buildings are examples of which factor of production? | capital |
| Which factor of production is being used when an individual decides to start a business? | entrepreneurship |
| What word means “the additional cost of producing one more unit of a good or service”? | marginal cost |
| What is it called when production is divided into a set of specific tasks? | division of labor |
| Which factors can increased the productivity of a business's workforce? | increased training and education |
| What type of market only has one supplier of a product? | monopoly |
| What type of market is characterized by only a few suppliers who sell a nearly identical product? | oligopoly |
| What type of market has many different suppliers who produce an identical product that they have no ability to control the price of? | perfect competition |
| What is it called when two firms combine their business operations to form one company? | merger |
| What type of business is owned by its shareholders? | corporation |
| What type of organization helps workers to acquire higher wages, benefits, and better working conditions? | labor unions |
| What process do labor unions use to negotiate with the owners/management of a business? | collective bargaining |
| What is it called when labor union members refuse to work until its demands are met by the business management? | strike |
| What are outlawed by anti-trust laws? | monopolies and unfair competition |
| Which policy gives minorities preferential treatment in jobs and education programs? | affirmative action |
| What type of market has many competitors who offer a variety of choices at similar prices? | monopolistic competition |
| What type of economic system is described by Adam Smith's "Invisible hand" theory? | free market (capitalism) |
| Which economic system is characterized by competition between producers and consumers? | free market (capitalism) |
| Which economic system is centrally planned by government agencies? | Command (Communism/Socialism) |
| Who owns the property and factors of production in a free market economy? | individuals and businesses |
| In a command/socialist economy, who gets to make the most important economic decisions? | government |
| What is the primary goal of individuals and businesses in a free-market economy? | profit |
| According to the law of demand, what will consumers do when price falls? | buy more |
| According to the law of supply, what will producers do when price rises? | increase production |
| What is the economic effect of price controls? | shortages |
| What will happen to price if there is a shortage of a product? | it will rise |
| What will happen to price if there is a surplus of a product? | it will fall |
| Which economic principle states that consumers will buy more of a good at a lower price than at a higher price? | law of demand |
| Which economic principle states that producers will increase their output of a good or service when the price is higher? | law of supply |
| What is the price called at which quantity supplied is equal to the quantity demanded? | market price or equilibrium price |
| What characteristic of the free market system gives individuals the "freedom to choose"? | free enterprise |
| 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 investment has the highest reward/most risk? | Stocks/mutual funds |
| What investment has the least reward/risk | Certificate of Deposits (CD's) and money market/savings accounts |
| 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 |
| Where do banks acquire the money that they use to make loans? | deposits |
| 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 |
| What do lenders look at to determine the risk involved in making a loan to a borrower? | credit score |
| 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 |
| Why did the Pilrims, Puritan, Quakers and Catholics establish new English colonies? | religious freedom |
| Which economic system helped Britain keep a favorable balance of trade | mercantilism |
| What was the first colonial legislature to be established in the British colonies? | House of Burgesses |
| What document established self-government for the Pilgrims? | Mayflower Compact |
| Which English philosopher said the citizens make a "social contract" to create governments for the protection of their rights? | John Locke |
| Prior to the French and Indian war, what was the British policy of allowing colonies to govern their own day-to-day affairs? | salutary neglect |
| What was the primary cause of the American Revolution? | taxation without representation |
| What did Thomas Paine’s Common Sense urge colonists to do? | declare independence from Britain |
| Which document described American political beliefs and listed the reasons for breaking away from Great Britain? | Declaration of Independence (1776) |
| Which document established the national government of the United States after the Revolutionary War? | Articles of Confederation |
| Which event showed that a constitutional convention was needed to strengthen the national government? | Shays Rebellion |
| Which plan resulted in the creation of a bicameral Congress for our legislative branch? | Great Compromise |
| Which political party supported the ratification of the Constitution? | Federalists |
| What was the name of the essays that were written to gain support for ratification of the Constituton? | Federalist papers |
| What form of government allows the people to choose representatives who will make and enforce the laws? | republic or representative democracy |
| What features of the U.S. Constitution limit the power of government? | separation of powers; checks & balances |
| Which part of the U.S. constitution protects personal freedoms such as expression, right to bear arms, and rights of the accused? | Bill of Rights |
| Which constitutional principle is reflected in the Preamble when it says "We the people...do ordain and establish this Constitution for the United States of America"? | popular sovereignty |
| Which constitutional principle divides powers between the different branches of government? | separation of powers |
| What constitutional principle enables one branch to counteract the powers of another branch? | checks & balances |
| Which branch of government enforces or carries out the law? | executive (President and executive agencies) |
| Which branch of government interprets the law? | judicial (Supreme Court and lower federal courts) |
| What constitutional principle enables the Supreme Court to strike down a law or government action that it has determined to be unconstitutional? | judicial review |
| How can the president's power to select federal judges and executive officials be limited or blocked? | majority vote in the Senate |
| What enumerated powers are specifically delegated to Congress in Article I, Sec. 8 of the Constitution? | tax, declare war, borrow, coin money, regulate interstate commerce |
| What powers are delegated to Congress by the “necessary and proper” or "elastic" clause? | implied powers |
| According to the 10th Amendment, who do the reserved powers belong to? | the states |
| Which clause in the U.S. Constitution makes the national government and all laws made under it the "supreme law of the land"? | the supremacy clause |
| Which clause in the U.S. Constitution requires each state to honor any public acts, records, or legal contracts that are made in another state? | "full faith and credit" |
| Which power enables the House of Representatives to bring charges against the president for "high crimes or misdemeanors"? | impeachment |
| Which constitutional protection limits government by preventing people from being jailed without charge? | writ of habeus corpus |
| Which power of the president can be used to forbid a bill passed by Congress? | veto |
| What is the most basic function of the U.S. Congress? | to make laws |
| What is a change to the Constitution called? | amendment |
| How are amendments to the U.S. Constituion normally proposed? | passage by a 2/3 majority in each house of Congress |
| How are amendments to the U.S. Constitution normally ratified? | by a majority vote in 3/4 of the state legislatures |
| Which constitutional principle divides powers between the national government and the states? | federalism |
| What freedoms are guaranteed by the 1st Amendment? | expression (speech), the press, assembly, religion, petition |
| Which freedom is protected by the principle of “separation of church and state”? | religious freedom |
| What right is protected by the 2nd Amendment? | right to bear arms |
| What freedom is protected by the 4th Amendment? | no unreasonable searches and seizures |
| What rights for the accused are guaranteed by due process in the 5th Amendment? | no double jeopardy, right to remain silent, indictment by grand jury |
| What features of the 6th Amendment protect the rights of the accused? | right to an attorney and trial by jury |
| Which Amendment guarantees “equal protection” under the law? | Fourteenth Amendment |
| Which court case upheld the principle of "separate but equal"? | Plessy v. Ferguson |
| Which court case overturned the principle of “separate but equal” by declaring that segregation in schools was unconstitutional? | Brown v. Board of Education |
| Which court case expanded the rights of criminal suspects by requiring law enforcement officers to inform them of their rights? | Miranda v. Arizona |
| What court case confirmed that the right to an attorney is guaranteed by the 6th Amendment? | Gideon v. Wainwright |
| Which non-legislative power enables the House of Representatives to bring charges against the president for "high crimes or misdemeanors"? | impeachment |
| Who is the presiding officer that leads the House of Representatives? | Speaker of the House |
| Who is the presiding officer in the U.S. Senate? | Vice-president |
| Which two legislative bodies make up the U.S. Congress? | the House of Representatives and the Senate |
| What is the most basic function of the U.S. Congress? | to make laws |
| What is the name of the process used to distribute legislative seats in Congress amongst the states? | apportionment |
| How long is the term for a member of the House of Representatives? | two years |
| How long is the term for a member of the Senate? | six years |
| How many U.S. Senators does each state have in Congress? | two |
| On what basis are seats in the U.S. House of Representatives distributed among the states? | population |
| What procedure can be used in the Senate to block a bill by "debating it to death"? | filibuster |
| What is needed to over-ride a president's veto of a bill? | a 2/3 majority vote in each house of Congress |
| What special powers does the House of Representatives have? | impeachment and power to begin all appropriations bills |
| What is required for the approval of treaties? | a 2/3 majority vote in the Senate |
| What is it called when the majority party in the state legislature re-draws the legislative district lines to benefit their party in future elections? | gerrymandering |
| Who has the power to re-draw the congressional district lines after each census? | the state legislatures |
| What is the #1 source of revenue for the federal government? | income taxes |
| Who pays the highest income tax rates? | high income earners |
| What pays for Social Security and Medicare? | payroll taxes |
| What is the #1 expense in the federal budget | entitlement programs (Social Security, Medicare, Medicaid) |
| 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 |
| 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 |
| 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 cabinet-level department is responsible for preventing and responding to terrorist attacks and natural disasters? | Department of Homeland Security |
| 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 |
| Which court is holds trials for cases involving federal law, the U.S. government or the U.S. Constitution? | U.S. District Court |
| What is the final court of appeals 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, disputes between states |
| What is the highest appeals court in the NC legal system? | N.C. Supreme Court |
| Which court in the N.C. legal system hears appeals that come from the Superior and District courts? | N.C. Court of Appeals |
| 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 do justices on the Supreme Court write to explain the decision that it has made in a court case? | majority opinion |
| What type of judicial interpretation involves a more conservative approach that focuses on original intent? | strict interpretation |
| What type of interpretation would a judge have that is using their opinions to achieve a certain outcome? | loose interpretation |
| "Judicial activism" is basing a court's ruling on what type of interpretation? | "loose" or "liberal" interpretation |
| What court case established the Supreme Court's power to use judicial review? | Marbury v. Madison |
| What is it called when the Supreme Court hears a case to decide whether a government action or law is constitutional? | judicial review |
| 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 |
| What is it called when a person is ordered by the court to appear and testify as a witness? | subpoena |
| In which phase of a trial is the testimony and credibility of the witnesses questioned? | cross-examination |
| What is it called when two parties settle their dispute out of court? | settlement |
| Who is elected to represent the state as the plaintiff in a criminal case? | prosecutor/district attorney |
| What grants a person release from jail in exchange for their promise to attend their court date? | bail |
| What is a lighter sentence offered in exchange for a guilty plea called? | plea bargain |
| What type of law sets procedures for arresting, prosecuting, and punishing people who violate the penal code? | criminal law |
| What type of law is used to settle disputes between parties? | civil law |
| Who enforces traffic laws on North Carolina’s public highways? | Highway Patrol (State troopers) |
| 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 type of punishment is most likely for a person convicted of a felony? | incarceration (prison) |
| What types of punishments are most likely for a person convicted of a misdemeanor? | community service, fines |
| Who is responsible for enforcing federal laws? | U.S. Department of Justice/Attorney General |
| Which government agency investigates and apprehends persons suspected of committing federal crimes? | Federal Bureau of Investigation (FBI) |
| Who has the burden of proof in a criminal case? | the prosecutor/district attorney |
| What burden of proof is necessary for a plaintiff to win a judgement in a civil suit? | preponderance of the evidence |
| In which form of government features one-person or one-party rule? | dictatorship |
| Which form of government features a king or a queen? | monarchy |
| Which characteristic of American government divides powers between the national government and the state governments? | federalism |
| Which civic responsibility is necessary to maintain our judicial system? | jury duty |
| What is the most basic civic responsibility that a person can take to influence their government? | voting |
| What are some of the legal responsibilities (duties) that citizens have? | obeying the law, paying taxes, jury duty, defending the nation |
| What are some of the civic responsibilities that citizens have? | voting, volunteering, getting informed |
| What qualifies as person as a "natural born" citizen? | American birth or parents who are citizens |
| What is the process called that aliens can use to become U.S. citizens? | naturalization |
| What form of government is controlled by a small group of people? | oligarchy |
| Which branch of government makes laws, sets tax rates, and makes the budget? | legislative |
| Which form of representative democracy has a prime minister as the executive that runs the government who is chosen by the majority party in the legislative branch? | parliamentary |
| Which word means "more than half of the voters"? | majority |
| Which form of government uses elections to allow citizens to choose public officials who will make and enforce laws? | republic or representative democracy |
| Which branch of government has the power to carry out/enforce the law? | executive (president) |
| Which branch of government has the power to apply the law like a "referee"? | judicial (courts) |
| What government program provides hospital insurance for people who are in poverty? | Medicaid |
| Who is responsible for enacting the nation’s fiscal policies? | Congress and the president |
| What term is defined as “policy that is used to regulate the amount of money in circulation”? | monetary policy |
| Who sets the nation's monetary policy? | Federal Reserve |
| What type of monetary policy would the Federal Reserve use to increase the amount of money in circulation and stimulate economic growth? | loose (easy) money policy (lower interest rates) |
| What type of monetary policy would the Federal Reserve use to reduce inflation? | tight money policy (higher interest rates) |
| Which area of the U.S. economy has experienced the most job growth in recent years? | service industries |
| What is it called when a company lays off workers to save on labor costs? | downsizing |
| What is it called when a company closes its U.S. plants and begins production overseas in order to reduce costs? | outsourcing |
| Which industries in North Carolina have been affected the most by downsizing and outsourcing? | furniture and textile industries |
| What is it called when a nation can produce a good or service at a lower cost than another country can? | comparative advantage |
| What type of policy is used to protect domestic industry against foreign competition? | protectionism (tariffs) |
| Which agreement increased trade between the United States, Canada, and Mexico? | North American Free Trade Agreement (NAFTA) |
| Which international organization was created to keep the peace between nations? | United Nations (UN) |
| What is a result of free trade and globalization? | global interdependence |
| How do wealthy nations like the United States help developing nations to grow economically? | foreign aid |
| Which fiscal policies result in economic growth? | cutting taxes and increased spending |
| What is it called when a nation imports more than it exports? | unfavorable/negative balance of trade (trade deficit) |
| Which government programs benefit senior citizens? | Social Security and Medicare |
| What term is defined as "a general increase in price levels"? | inflation |
| What economic indicator is defined as “the dollar value of all final goods and services produced in a country in one year”? | Gross Domestic Product (GDP) |
| What phase of the business cycle is characterized by a growing GDP and low unemployment? | expansion |
| Which phase of the business cycle is characterized by a decline in GDP and rising unemployment? | contraction or recession |
| Which economic indicator is used to measure inflation? | Consumer Price Index (CPI) |
| What is it called when a nation experiences a long and severe recession? | depression |
| What is it called when a government’s expenditures are greater than the revenue it receives? | budget deficit |
| Increased government spending and higher budget deficits result in which economic problem? | national debt |
| What does the North Carolina General Assembly do? | make the state's laws, set the state budget |
| Who is the president of the Senate in the NC General Assembly? | Lieutenant Governor |
| 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 |
| What is a local law called? | ordinance |
| 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 |
| 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 |
| What is the main goal of a political party | to win a majority in an election |
| What do you call organizations formed by citizens who want to get their goals put into law? | special interest or "interest groups" |
| Who is hired by an interest group to persuade a Senator or Representative to support legislation that achieves their goals? | lobbyist |
| How can a person vote if they are not going to be present on election day? | absentee ballot |
| What is the main complaint about the media? | bias |
