Constitution
What is the supreme law of the land?
Constitution
How long is a President's term length?
4 years
What does GDP stand for?
Gross Domestic Product
What is a tariff?
Tax on imported good
What age must you be to vote in federal elections?
18
What are the first ten amendments called?
Bill of Rights
What is the process by which the President can reject a bill?
Veto
What do we call the cost of the next best alternative when a decision is made?
Opportunity cost
What is an embargo?
Ban on trade with another country
What document protects your freedom of speech and religion?
Bill of Rights
How many branches of government are there?
3
How many U.S. Senators are there?
100
What economic system is controlled mostly by the government?
Command Economy
What is a quota in trade?
A limit on what can be imported
What is jury duty?
Serving on a jury to decide a legal case
What do we call each of our branches of government?
Executive, legislative, judicial
What do we call the first part of the Constitution that outlines its purpose?
What economic system is characterized by customs and beliefs?
Traditional economy
What is globalization?
The process of our world becoming more interconnected
What does the First Amendment protect?
Freedom of speech, religion, press, assembly, and petition
What is the purpose of the checks and balances system?
To prevent any one branch from becoming too powerful
Who signs bills into law?
The President
What happens to price when supply is higher than demand?
Goes down
What could trade barriers lead to in the US?
Without cheaper imported goods, companies might charge more for the same products.
What is the difference between a right and a responsibility?
A right is a freedom guaranteed; a responsibility is a duty expected of citizens