What is the best definition of a mixed economy?

economic system that has elements of command, and/or market economies

What "freedoms" have you been given by the Bill of Rights?

Religion, Speech, Press, Assemble, Petition

What is Sticker Price?

the college's published tuition and fees

What is the final step in a bill becoming a law?

It is signed by the President of the United States

Another benefit of higher education is .....

having various job opportunities

What led to the American Revolution?

Colonist against British control over the colonies and repayment of war

What is "Separation of Powers"?

gov. divided into branches, so no branch is more powerful than the other

What are the two types of interest rates?

Simple Interest and Compound Interest

What flaws of the Articles of Confederations led to the writing of the U.S. Constitution?

the federal government had very little power.

Which of the following is NOT one of the three basic questions of economics when looking at economic systems?

What is the price of the goods?

An opportunity cost is.....

the value of the options you didn't choose

a way to list the money you earn and the money you spend

What does it mean to be underserved?

a person/section of society not attended to, not having services or rights

What does it mean to be underrepresented?

to give inadequate representation to certain group of people or person

studbud

End of Year Review

79 termsStudBud Administration155 plays

Imported from external platform

Flashcards79 cardsFPractice quizPHost liveL

Questions 79

Answers

1
What three categories your money be divided into?
wants, surviving and spending
emergency funds, entertainment and retirement
needs, vacations and spending
needs, wants and savings
2
How many representatives does each state have?
depends on population
4
2
3
3
What is the best definition of a mixed economy?
none of the above
an economy that has all three of the other economic systems present
the least popular type of economic system
economic system that has elements of command, and/or market economies
4
How many senators does each state have?
4
depends on population
2
3
5
What was the first permanent settlement in the New World?
Jamestown
Plymouth Rock
North America
England
6
What "freedoms" have you been given by the Bill of Rights?
Speech, Press, Jury, Assemble, Petition
Speech, Press, Assemble, Remain Silent, Warrants
Religion, Speech, Press, Assemble, Petition
Religion, Speech, Press, Bear Arms, Petition
7
What was the main goal of the Jamestown settlers?
to find sugar
to plant tobacco and rice
to find gold
to farm and raise cattle
8
They get rid of the laws that are unfair or "out of sorts"?
Legislative
Judicial
Executive
9
What is Sticker Price?
the real amount you have to pay after subtracting the aid received
free money you don't have to pay back
the college's published tuition and fees
10
What is the final step in a bill becoming a law?
It is signed by the President of the United States
It is signed by the Speaker of the House
The Supreme Court votes on it
All the Cabinet members sign it
11
The ____amendment gives us the right to bear arms.
3rd amendment
1st amendment
2nd amendment
4th amendment
12
Who can introduce a new bill to Congress?
Regular Citizens
Members of Congress
Special interest groups
All of the above
13
Amendment 5, 6, 7, and 8 are the...
Rights of the Accused
Individual Freedoms
Limits on Government
14
What economic system does the U.S. use?
Mixed Economy
Traditional Economy
Command Economy
Market Economy
15
What is it called when the President rejects a bill and refuses to sign it?
Veto
Sponsor
Filibuster
Impeachment
16
True or False: The sponsor of a bill is someone who does not want it to pass and become a law.
True
False
17
Another benefit of higher education is .....
having a ton of debt
having an extreme amount of knowledge
being able to party
having various job opportunities
18
How many branches of government does the U.S. have?
1
2
3
4
19
If you do not pay your credit card in full you may be charged _______________.
Interest
A one time fee
An overdraft fee
20
What is the main way that states and local governments get money to run the government?
Taxes
selling raffle tickets
fines
asking for donations
21
What led to the American Revolution?
Britain opposition to colonists requesting more tea and stamps
colonial opposition to searching for gold over farming and
Colonist against British control over the colonies and repayment of war
Britains opposition to farming over gold & colonist requesting compensation
22
Which of the basic economic systems allows government to control MOST aspects of the economy?
command economy
traditional economy
market economy
mixed economy
23
The President and his cabinet are part of which branch?
Executive
Judicial
Legislative
24
The ____________ for a profession is the middle of the pay scale for people doing that job.
high salary
starting salary
median salary
final salary
25
What is "Separation of Powers"?
gov. divided into branches, so no branch is more powerful than the other
gov. that gives the people all the powers and ability to make decision
gov. that separates the leaders from the people and had control over them
26
Who is the leader of the Federal Government?
Mayor
City Council
Governor
President
27
What are the TWO ways government works to solve problems?
Regulation and action
Protesting and petition
Action and protesting
28
They "can impeach or remove judges"?
Judicial
Legislative
Executive
29
In a mixed economy who is in charge?
Individuals
Elders
Government and individuals
Government
30
What are the two types of interest rates?
Simple Interest and Comparison Interest
Simple Interest and Compound Interest
Simple interest and Cumulative Interest
Simple interest and Rate of Return
31
Once independent from Britain, what document did the colonists create to address and fix problems in their society?
The Articles of Confederations
The Constitution
Bill of Rights
Magna Carta
32
What flaws of the Articles of Confederations led to the writing of the U.S. Constitution?
the federal government had very little power.
the delegates controlled their states.
the colonist were being controlled by their representatives.
the state government had very little power.
33
What is the HIGHEST level of education?
Masters Degree
Associates Degree
Bachelors Degree
Doctorate Degree
34
True or False: Not every job requires a bachelor’s degree from a 4-year college or university
False
True
35
Which of the following is NOT one of the three basic questions of economics when looking at economic systems?
Who will be responsible for producing the goods and services?
What goods and services will be produced?
What is the price of the goods?
How will the goods and services be distributed to the consumers?
36
The three levels of government follow the same system of ______.
Fines
Taxing
Checks and balance
Voting
37
The Judicial branch main job is to _________.
Carry out the Laws
Interpret the Laws
Make the Laws
38
______ is the stand the government takes about a problem or an idea for improvement.
Public Policy
Meetings
Protest
Petition
39
Credit cards are a form of ___________.
insurance
gift
loan
40
True or False: Once a bill has passed Congress, the President has up to 1 year to sign a bill into law?
True
False
41
They "make sure the rules are carried out"?
Executive
Judicial
Legislative
42
Congress is part of which branch?
Legislative
Judicial
Executive
43
Which of the following is NOT something that state and local governments provide?
Schools
Police
Roads
The army
44
True or False: College is the ONLY path that you can take after high school
False
True
45
An opportunity cost is.....
when you have the opportunity to buy what you have been waiting for
the value of the purchases you made
when you have the opportunity to save instead of buying what you want
the value of the options you didn't choose
46
What is budgeting?
is a digital program to keep track of your routine
a way to list the money you earn and the money you spend
is a car company
is a way to subtract what you earn from what you spend in a week
47
What system does our government use to make sure not one branch becomes more powerful than the other?
system of laws
system of checks and balances
system of separation of powers
system of congressional powers
48
Where is the bill sent after it has been introduced to Congress?
To the Cabinet for approval
To the Vice President
To the Supreme Court
To a committee
49
What does it mean to be underserved?
a section of society that attends to everyones needs
to give inadequate representation to certain group of people or person
a person or group of people who are overly represented
a person/section of society not attended to, not having services or rights
50
The powers and responsibilities between city governments and county governments are always the same in every state.
False
True
51
What does it mean to be underrepresented?
to give inadequate representation to certain group of people or person
a section of society that attends to everyones needs
a person or group of people who are overly represented
a person/section of society not attended to, not having services or rights
52
Who is the leader of the Local Government?
President
City council
Mayor
Governor
53
What are the three ways in which the powers of the U.S. are divided?
Executive, Judicial, and County
Legislative, Executive, and State
Legislative, Executive, and Judicial
Legislative, State, and City
54
The state and federal level of government have the same amount of senate and house members. True or False?
False
True
55
They "make the laws and the bills"?
Legislative
Executive
Judicial
56
What is Rate of Return?
A tool used by businesses to decide which investment strategy to use.
The percentage amount of cash needed to make a good investment.
amount you receive after the cost of your initial investment
The amount you receive after the cost of your initial investment
57
The Executive branch main job is to _______.
Carry out the Laws
Interpret the Laws
Make the Laws
58
The higher the educational level, the higher the_____.
earnings
dreams
debt
struggle
59
Who can come up with the idea for a new law?
All of the above
Regular Citizens
Senators and House of Representatives
The President
60
What is the written down idea for a law called before it officially becomes a law?
Act
Veto
Will
Bill
61
Why did pilgrims come to America?
to find gold for the king
for religious freedom & economic opportunity
for fun
to travel across the sea
62
They "have the final say if the branches don't agree"?
Executive
Judicial
Legislative
63
Why is budgeting important?
it is important because it helps you save for when you almost pass away
it is important because you can see your future closer
it is important because it helps you reach your financial goals.
it is important because it helps you graduate
64
They "serve until they die or retire"?
Executive
Legislative
Judicial
65
The Supreme Court is part of which branch?
Judicial
Legislative
Executive
66
The ____ amendment protects us from unreasonable search and seizures
6th amendment
1st amendment
5th amendment
4th amendment
67
Who is the leader of the State Government?
The president of the state
The governor
The vice president
The mayor
68
How many amendments are in the Bill of Rights?
27
10
12
8
69
What is it called when a Senator tries to delay the vote on a bill by giving a really long speech?
Ratification
Impeachment
Veto
Filibuster
70
They "nominate or choose" judges?
Judicial
Legislative
Executive
71
The Local, State and Federal government have three branches of government. True or False?
False
True
72
The Legislative branch main job is o _________.
carry out the laws
make the laws
interpret the laws
73
When the ROR is positive, it is considered a _____ and when the ROR is negative, it reflects a ______ on the investment.
gain, loss
negative, positive
positive, negative
loss, gain
74
What two groups were colonists divided into during the American Revolution due to their different ideologies?
Colonists and Pilgrims
Patriots and Loyalist
Middle class and lower class
Democrats and Republicans
75
What is the best definition for the word Amendment?
Changes or additions
Legal information
To make worse
76
How would a free market economy be described?
An economy based on supply and demand with little or no government control
The international exchange of goods.
An economy in which decisions are made by the government.
An economy that is communist
77
What is the meaning of net income?
amount of money you spend
amount of money you bring home after taxes and deductions
amount of money you save
amount of money you inherited
78
The four types of economic systems are:
Communism, Capitalism, Free Market, and Macroeconomics
Traditional, Command, Mixed, & Market
Traditional, Command, Combined, & Market
Microeconomics, Macroeconomics, Individual, and Traditional.
79
_______ is another word for Market Economy.
Capitalism
Communism
Socialism

End of Year Review Flashcards | StudBud