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Civics/Econ.- Final Exam Review Flashcards | StudBud
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Civics/Econ.- Final Exam Review
Civics/Econ.- Final Exam Review
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1
Who would be more likely to support government regulations to protect the environment?
Republicans
Democrats
2
Allows the Supreme Court to determine if laws conflict with the Constitution
constitutional review
judicial review
natural resources
executive order
3
Who has the final authority over whether a law is constitutional?
Supreme Court
FAHS Student Council
President
Congress
4
A system of maintaining both federal
and
state courts
dual court system
Reserved powers
bicameral legislature
GDP
5
What is the chief executive for state government called? And who is ours?
Lieutenant Governor: Brian Calley
Attorney General: Bill Schuette
President: Barack Obama
Governor: Rick Snyder
6
Which court has ____? Where should the trial be held?
jurisdiction
precedent
resources
productivity
7
______ are put in place to punish a country for their actions.
Ambassadors
Precedents
Trade sanctions
Free trade acts
8
If you borrow $100,000 for a house, the amount of $100,000 is considered the ____.
compound interest
interest
collateral
principal
9
The basic economic question: how do we satisfy our wants when we always have _____?
equilibrium
surplus
scarcity
budgets
10
If you choose to buy a skateboard instead of an iPod, the iPod is the _____.
opportunity cost
variable cost
suffrage
cost-benefit ratio
11
If you spend more than you earn, you will experience a ____ in your budget.
supply
surplus
savings
deficit
12
Where do federal trials usually begin?
federal district courts
state supreme courts
federal appeals courts
U.S. Supreme Court
13
If you are accused of wrongdoing in a court of law, you are the _____.
prosecutor
plaintiff
defendant
attorney
14
The amount of a good or service that consumers are willing & able to buy at a given price is
supply.
principal.
demand.
equilibrium.
15
material well-being of people as measured by how well their needs/wants are satisfied
GDP per Capita
economics
principal
standard of living
16
How is the number of electoral votes determined by state?
geographical size of the state
population
# of Senators & Representatives
# of registered voters
17
Judges rarely overturn previous decisions; they usually defer to ___ when making a decision.
expressed powers
judicial review
precedent
principal
18
The amount of goods that producers are willing & able to sell at a given price.
demand
scarcity
equilibrium
supply
19
A law must be ____; it must not go against the constitution.
nullified
repealed
passed
constitutional
20
The 3 basic parts of a budget are income, costs, and
balances.
deficits.
savings.
surpluses.
21
In the circular flow model, where do workers receive income from?
consumer sector
product market
factor market
business sector
22
Which of the following is a requirement for voting in the U.S.A.?
payment of a fee
property ownership
18 years old
U.S. citizenship
23
On the demand curve, as the price goes down, the quantity demanded
goes down.
stays the same.
goes up.
24
What is a grassroots movement?
a political movement to help the environment
political movement which is initiated by the President
political movement which begins with "the people"
political movement which begins with party leaders
25
Who would be more likely to support universal mandated health care?
Democrats
Republicans
26
Federalists believed that the best way to protect individual rights was to have a
strong state governments.
revolution.
strong federal government.
constitutional amendments.
27
What does the Constitution say about political parties?
parties will lead to conflict
parties should be regulated at the state level
Nothing!
federal government must approve parties
28
The study of how individuals and nations make choices about how to use scarce resources.
economics
socialism
civics
capitalism
29
____ measures how efficiently businesses are using resources.
Productivity
Division of labor
Specialization
Revenue
30
Which group has the highest voter turnout on average?
high school dropouts
people with a college education
high school graduates
31
The things that people would like to have, but maybe aren't necessary
needs
demand
scarcity
wants
32
Which of the following is a qualification for being the President of the United States?
political experience
Born in the U.S.A.
at least 35 years old
Bachelor's degree
33
The two main parties in the U.S.A. today are the
Republicans & Democrats.
Tea Party & Libertarian.
Democrats & Federalists.
Green & Republican.
34
Ownership in a company
profit
dividend
stock
bond
35
Protecting the right to bear arms is part of the Republican party's ______.
platform
revenue
supply
ballot
36
The ______ establishes the Constitution as the highest law of the land.
Powers Clause
1st amendment
Supremacy Clause
Elastic Clause
37
Which of the following directly causes a CHANGE IN DEMAND?
number of producers
number of consumers
lower costs of production
new technology
38
Rights of consumers when manufacturers have made faulty products or claims
redress
deficit
impulse spending
warranty
39
The place where supply meets demand on a graph is the
shortage area.
surplus area.
equilibrium point.
GDP.
40
What is the Vice President's constitutional responsibility?
vote in all Senate matters
Oversee Congress
Oversee the Senate
appoint a President if the President dies
41
Taxes are considered _____.
implied powers
reserved powers
expressed powers
concurrent powers
42
A plan to help you organize your income, costs, and savings.
disposable income
checkbook reconciliation
budget
mutual funds
43
An expense that changes depending on how much you produce
variable expense
fixed expense
productivity
fixed cost
44
In a market economy, ____ motivates producers to provide a high quality, fairly priced product.
profit motive
competition
resources
trade sanctions
45
After your taxes have been deducted from your paycheck, you are left with _________.
$0
disposable income
variable income
just enough for an ice cream cone.
46
A nation's overall plan for dealing with foreign nations is its _____.
amendment process
foreign policy
cabinet policy
trade sanctions
47
Means of production are mostly owned by private individuals.
Capitalism
Socialism
Economics
Democracy
48
The President may issue an _____, which has the force of law.
reserved power
trade sanction
disposable income
executive order
49
Interest-bearing certificate. (usually) low risk, low return
mutual funds
bond
stock
debit card
50
Consumers buy products in the
consumer sector.
business sector.
factor market.
product market.
51
Government workers receive their job through merit, not "who you know"
representative democracy
electoral college
spoils system
civil service system
52
Supreme Court Justices serve for
life.
4 years.
8 years.
10 years.
53
If my cost for an item is $1, and I sell it for $1.50, then my ___ is $.50
profit
cost
market value
revenue
54
Which of the following makes you more likely to buy on impulse?
comparison shopping
paying by credit
making a list of what you need
saving more than you spend
55
Who elects the President & Vice President?
Electoral college
Cabinet members
Popular vote
Congress
56
Which of the following is an example of a good?
counseling
dog food
manicure
diapers
57
Who is next in line for the Presidency after the President and V.P.?
Mr. Boss
Secretary of State
Speaker of the House
President Pro Tempore
58
A circuit court may reverse the result of a trial if the judges decide that
the lower court needs to retry the case.
the original judge made an error when interpreting the law.
the defendant was wrongly accused.
the person who won the lawsuit should have lost.
59
The 26th amendment granted _________ to 18-year-olds in the United States. (right to vote)
iPhones
Prohibition
suffrage
freedom
60
All the useful "things" you need to make goods or services
resources
wants
revenue
product markets
61
Because we have two "houses" in Congress, our legislature is considered ____.
democratic
capitalism
bicameral
unicameral
62
What is the state of Michigan's largest category for expenditures?
social services
roads
education
military
63
A Presidential election is won by the candidate with the most
electoral votes.
support from the big states.
states voting for them.
popular votes.
64
What forces people and nations to make economic choices?
scarcity
abundance of goods
need for shelter
desire for profit
65
Which
economic system
would be more likely to support
free enterprise
?
Socialism
Capitalism
66
Revenue is received in the ___ by the ____.
factor market/business sector.
product market/consumer sector.
product market/business sector.
factor market/consumer sector.
67
When you shop in the grocery store, you are a ______.
consumer
enterpreneur
producer
manufacturer
68
A risk-taking individual who starts their own business is called an ______.
avenger
entrepreneur
plaintiff
defendant
69
If I sue you, I am the ____.
prosecutor
witness
defendant
plaintiff
70
On election day, the candidates' names appear on the _______.
docket
ballot
electoral college
platform
71
Which part of the Constitution grants states reserved powers?
1st amendment
Preamble
Article III
10th amendment
72
The additional cost associated with producing an extra unit is the ____.
marginal cost
mixed market
cost-benefit ratio
marginal revenue
73
The President sends ____ to represent the U.S. in other countries.
defendants
governors
plaintiffs
ambassadors
74
What is the maximum number of years a President can serve?
8
12
10
6
75
Who would be more likely to support gun control?
Democrats
Republicans
76
The current President is
George W. Bush
Hilary Clinton
Mike Pence
Donald Trump
77
The safety and security of the nation is known as
national security.
concurrent powers.
trade sanctions.
capitalism.
78
Which of the following is an example of a service?
grocery store
dog grooming
hair salon
ice cream shop
79
What is the main source of revenue for state governments?
taxes
toll roads
speeding tickets
licensing fees
80
Who has the power to declare war?
President
Secretary of Defense
Congress
Ms. Holeman
81
Which economic system would most likely support social security?
Capitalism
Socialism
82
The President may grant a ____ to forgive someone for their crime(s).
ballot
precedent
pardon
resource
83
A surplus usually means that
government price controls are needed.
the price is too high.
suppliers cannot meet demand.
the market is in equilibrium.
84
On the supply curve, as the price goes down, the supply
goes down.
stays the same.
goes up.
85
What is the main job of an appeals court?
sentence people who are convicted in federal courts
decide the defendant's guilt or innocence
review decisions made by lower courts
decide whether a law is constitutional
86
Top advisers to the President (Secretary of State, Secretary of Defense, etc.)
Presidential Committee
defendants
civil service system
cabinet
87
How are prices established in the U.S.A.?
government regulations
supply & demand
tax incentives
through major corporations
88
The money you pay for the privilege of borrowing money is ______.
deficit
investment
interest
penalty
89
The total of all goods & services produced in a country in a year
economics
GDP
Gross Domestic Product
GDP per Capita
90
10th amendment grants ____ to the states.
concurrent powers
implied powers
expressed powers
reserved powers
91
Buying without thinking it through
discretionary income
impulse saving
disposable income
impulse buying
92
If I sell 50 books at $5 each, my _______ is $250.
cost
revenue
opportunity cost
profit