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Government Final Exam Flashcards | StudBud
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Government Final Exam
What's a shortage?
What's a bond?
Government Final Exam
75 terms
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StudBud Administration
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301 plays
#brockhaus #SlidellHigh #governmentBrockhaus
Flashcards
75 cards
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Practice quiz
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Questions
75
Answers
1
What's a bond?
an I.O.U (paid at maturity date)
Equity (based on a coupon rate)
Debt (you owe at maturity rate)
The love between you and your Slidell High brothers and sisters
2
What's a shortage?
Scott wants as much spaghetti as he can get
Scott wants three spaghettis but only 1 is available
Nothing in unlimited
Everything is limited
3
When are taxes due?
March 15
Tomorrow
April 15
October 27
4
Society with socialist characteristics?
Minimum Wage
Universal healthcare
all of these
Public Education
5
Who would make the best talk show host?
Cayleigh Larsen
Emma Rawls
Julia Soo
Thuy Vu
6
rat
True
False
7
Unemployment in January? Nancy works at a water park!
Structural
Seasonal
Cyclical
Frictional
8
What is monopolistic competition?
one company selling identical products under different names
many companies selling similar but not identical products
one comp selling several diff products under different names
very few companies selling identical products
9
Which foreign policy was enforced by Theodore Roosevelt?
Big Stick Diplomacy
Tree Branch Diplomacy
Internationalism
Big Stock Diplomacy
10
Who is most likely to create an incredibly corrupt corporation who lobbies the government?
Sean Young
Rebekah Zullo
Bre McCleary
Zalisa Mills
11
WHO ORIGINALLY COLONIZED THE KOREAS ?
MOSHE
USA
JAPAN
RUSSIA
12
Which of the following describes the United Nations?
All of these
Primary activity is promoting world peace
International law
International security
13
Economics is about solving the problem of...
Shortages
Debt
Globo gyms
Scarcity
14
Which of the following involved helping and making alliances with Latin America specifically?
Internationalism
Crossfit is the best
Good neighbor policy
Big-Stick Diplomacy
15
What is a sanction, and when are we most likely to use them?
NATO blocking trade, when a country has nuclear weapons
country blocking trade, another country has nuclear weapons
group of countries blocking trade, someone violated int. law
A country blocking trade, someone violates international law
16
What is one kind of monopoly that the U.S. government generally permits temporarily?
Retail stores
patented medications
low-price gasoline
Cell phone companies
17
You controlling the market is known as...
Popular Spaghettis
Consumer Sovereignty
Consumer Spaghettis
Popular sovereignty
18
Which of the following is not one of the
main reasons nations trade
?
Comparative advantage
Creation of jobs
National Security
To obtain goods they cannot produce
19
Who/ what sets the prices on the stock market?
Consumers only
supply and demand
shareholders only
business owners
20
Which of the following does not describe common stock?
share in the ownership of a company
representation of a claim to the assets of a company
less risky than other types of stock
also referred to as equities
21
Which describes Medicaid?
Food stamps for impovershed
Health insurance for impovershed
Health insurance for elderly
Food stamps for elderly
22
Why is the idea of scarcity a starting out point for thinking economically?
Like spaghetti but pasketti, exactly
Wants are endless but resources aren’t
Wants create supply shortages
Producers create shortages and scarcity
23
Unemployment? Thomas wasn't happy with his job as a wedding priest so he looking for work.
Cyclical
Frictional
Structural
Seasonal
24
Of the types of competition which one offers the fairest prices to the consumer?
Monopoly
Oligopolistic
Monopolistic
Perfect
25
Which of the following is true of opportunity cost?
You always lose something in decision making
It may vary from person to person
All of these are correct
The cost of a decision must always be desirable
26
Who is known as chief diplomat and also selects ambassadors?
President
Vice President
Foreign Affairs Minister
Secretary of State
27
What controls supply and demand?
Government committees
Consumer sovereignty
The stock market
Donald J. Trump
28
BONUS POINTS: What is my favorite candy????
sour patch kids
mint choccy for brocky
children
cross fit
29
What is comparative advantage?
The ability of a country to sanction another country
The ability of a country to have a trade deficit
The ability of a country to produce goods in general
ability of a country to produce a good at a lower opp. cost
30
When your investment is increasing in value you can collect your ____ (earnings)
Liquidities
Dividends
Equities
Yields
31
Chloe is not a risk taker, but she wants to buy stock, so you recommend...
Preferred Stock
Common Stock
Beef Stock, gluten free
Initial Public Offerings
32
Which one SEEMS to be the least fair to the wealthy? (Isn't though bc you can still buy a 500milly$ yacht)
Regressive
Proportional
CROSSFIT
Progressive
33
Who is most likely to eat spaghetti noodles separate from the red sauce?
Kaelyn Groh
Mark Enright
Miles Richardson
Baylie Lirette
34
Factors of Production?
Land, Labor, and Crossfit
Capital, Labor, and Supply
Land, Labor, and Capital
Peace, land, and Bread
35
Who appoints ambassadors?
Vice President
House of Representatives
Senate
President
36
._____ implies limited quantities of resources are available to meeting unlimited wants.
Scarcity
Capital
Shortage
Entrepreneurs
37
In January, Ally received a ____ from where she worked so she could file her taxes.
1040ez
R2D2
w2
w4
38
What did Adam Smith say would solve the problem of scarcity?
Government Intervention
Mercantilism
Crossfit
Education and the Workforce
39
Which is progressive tax?
Rebekah paying sales tax on 49 packs of gum
What we use in the United States for income tax
EVERYONE being taxed 12% regardless of income
What Louisiana uses for sales tax
40
Voluntary exchanges function best in an environment of ___ decision making
Aggressive
Centralized
Decentralized
high intensity interval training
41
ECONOMIC TYPE: Government control dictating how everything is produced, when it's produced, and how much is produced
Socialism
Libertarian
Republic
Direct Democracy
42
What is Laissez faire capitalism?
The visible hand of the market
Government Intervention
Centralized decision making
Government non-intervention
43
Chris wants to buy stock in Crossfit, but is worried about the current “bear market.” This means..
profits from stocks are rising, making it a good time to buy.
many investors are selling all of their stocks
Prices are falling, good time to buy
investors are buying stocks in anticipation of higher profits
44
Which is flat tax?
Billionaire Lexa paying 12% just like bum Cameron
Bill Gates' income taxes 40% while hobo Gavin is taxed 4%
Noah filing taxes on his Etsy shop
Asher paying sales tax on his Triple Caffeine energy drink
45
Who is most likely to make us all breakfast if we went on a trip for a week?
Emma St Cyr
Hannah Holmes
Ashton Jackson
Noah Bordes
46
Which does NOT describe the invisible hand?
Gov implements regulations so producers do not exploit ppl
Self-interest spurs consumers to purchase goods
Competition causes more production and moderates prices
This all happens DECENTRALIZED and without much direction.
47
Which is a movement which advocated for a greater economic cooperation among the world?
Good neighbor Policy
Crossfit is still the best
Big Stick Diplomacy
Internationalism
48
In Bridge of Spies, what does Donovan call the Constitution?
The law of the land
The Rulebook
The Guidebook
The Coach
49
What does the IRS stand for, and what do they collect?
Internet Service Provider; state income tax
Internal Revenue Service; federal income tax
Internal Revenue System; federal income tax
Internal Revenue Service; state sales tax
50
Only 4 firms produce around 80% of output...
Oligipyly
ogilopoly
Oligopily
oligopoly
51
What is the most extreme form of trade barrier?
Jacob Coco
Sanction
Trade deficit
Embargo
52
Which is not one of the main components of a capitalism system?
Accumulation of capital
Role of competition
Mass production
Labor unions
53
(2019) Pinterest and a fake meat company are the latest IPOs... what does this mean
They are brand new companies to the market
They just went public for the first time!
White women are on the rise!
Their stock is being liquidated to preferred shareholders
54
Who will be the next star of Man v. Wild
Andrew Wells
Jacob Rasberry
Nikki Tullis
Caleb Myers
55
how pregnant am I
kinda
73 weeks
a lot
2/3
56
Which is the best?
Africa by Toto
Peace, Land, and Bread
Too Late to Apologize (Declaration of Independence)
Fleas on Rats
57
Why does the government sometimes give monopoly power to a company by issuing a patent?
The company makes a product better than anyone else’s.
The company can profit from their research w/out competition.
The company pays the government for the patent.
Gov wants to make money on royalties from the product.
58
Who is brockys fav student?
Wrong but this color
Wrong
Wrong
Kali
59
Who would run an entire marathon in Crocs?
Jacob Coco
Izzy Marolla
Logan Gilley
Aidan Penton
60
Which is regressive tax?
Jordan's collection of thumb tacks
Malia paying a sales tax on a giant spoon
Bum Kristen paying 12% income tax, same as millionaire Aaron
Luke paying a height tax for being too tall
61
When ___ value exceeds ____ value then a market bubble is occurring and there will probs be a crash
extrinsic, intrinsic
intrinsic, resale
intrinsic, extrinsic
resale, intrinsic
62
Which of the following describes an international tribunal?
Being/ put in jail for crimes committed during a genocide
Bringing a decision to an appeals court
Bringing a decision to the Supreme Court for justification
A council of judges created after the Vietnam war
63
If a country chooses
more ammo for the military instead of supplying more food, this is called..
All of the above
Wasteful spending.
Thinking at the margin.
Guns or butter.
64
SELF RELIANCE PHILOSOPHY NORTH KOREA
JUS SOLI
JUCHE
JUS SANGUINI
JUULS
65
What was the chief effect/ goal of the Sherman Antitrust Act?
Discourage monopolistic competition
End monopolies
Enforce monopoly power
Encourage the formation of trusts
66
Spend 500 million dollars on one thing:
Green Infrastructure
Extreme School Makeovers
Scholarship Programs
Super yacht
67
Kyoto Protocol and Paris Agreements are all abouttttttttt
INFLATION
CLIMATE
ECONOMY
TAXATION
68
When Ivy is 70 years old she will not want to work anymore, but she can collect _____.
Medicaid
Social Security
1040ez form
Property taxes
69
Putting money away today to gain for tomorrow is called...
ingesting
smesting
resting
Investing
70
Luke was a personal trainer until Crossfit was in demand--he didn't have the right skills.
Structurally Unemployed
Frictionally Unemployed
Seasonally Unemployed
Cyclically Unemployed
71
What was the Red Scare?
The fear that anyone in the US could be a communist
The spread of communism in Eastern Europe
When too many gingers came to America
All of these
72
Select all of the following (2) which are a condition for perfect competition?
Sellers are able to enter and exit the market freely.
Few buyers and sellers participate in the market.
Sellers offer a wide variety of products.
Buyers and sellers are well informed about products.
73
What is a Mutual Fund?
collection of rocks, brings you happiness
Collection of bonds, reduces risk
collection of savings accounts, helps you invest
Collection of stocks to help you diversify
74
WHO BACKED NORTH KOREA DURING KOREAN WAR ?
USA
UNITED KINGDOM
RUSSIA
USSR
75
The main advantage of diversification as an investment policy is that it (why pick many stocks?)
guarantees a fixed rate of return on an investment.
reduces risk to investors.
increases investors’ access to their money.
offsets the effects of inflation on investments.
