The Government and Economy
A tax that individuals and corporations pay on wages received
Income Tax
This word is used to describe the VA General Assembly; it is split into two houses
Bicameral
Powers listed in the Constitution are ________ powers
Expressed powers
____________ ____________ are political subdivision created by the General Assembly
Local Governments
This leads to the production of higher quality goods at a lower price
Competition
The government establishes and enforces this type of legislation to discourage monopolies
Antitrust
Which document outlines the powers of our state government?
The Virginia Constitution
These are the two houses of Congress
House of Representatives and Senate
These types of local officials are hired by people already in government
Appointed Officials
The amount of a good or service that consumers are willing and able to buy at different prices during a given time period
Demand
What is one way financial institutions encourage savings
Pay interest
This person is the head of our state's executive branch
The Governor
This is the money earned after expenses
Profit
This is the legislative body in a Virginia County
Board of Supervisors
What is the point where supply and demand meet?
Equilibrium Price
This amendment allows the U.S. Government to tax personal incomes
16th Amendment
Virginia's Constitution explains that bills must be introduced in one of these places
The House of Delegates or Virginia Senate
All state laws must conform to these two documents
Virginia and United States Constitution
Zoning land for agricultural use is an example of this power
Regulating land use
Corporation
What acts as our federal government's central bank
The Federal Reserve System
How many levels are in the Virginia Court system
4
This is the only court in the Virginia court system that has a jury
Circuit Court
This officer keeps records for the courts
Clerk of the Circuit Court
The inability to satisfy all wants at the same time is known as __________
scarcity