Government and Economic Systems Review

The United States buys $100 million in goods from Country Y but only sells them $50 million in goods. This situation represents:

• Trade Surplus

• Trade Deficit

• Balance of Trade

• Trade Equilibrium

When smartphone manufacturers rely on parts from Korea, assembly in China, and sales in America, this demonstrates:

• Economic Interdependence

• Globalization

• Outsourcing

• Trade Deficit

A legal system for assessing the amount of money made and placing value on property as a means to collect money from citizens.

• Tax System

• Legal Framework

• Financial Regulation

• Property Assessment

In Nation Z, religious leaders make all governmental decisions based on their holy book. Their laws are derived from sacred texts. This system of government is:

• Democracy

• Theocracy

• Monarchy

• Oligarchy

A state passes laws requiring specific ID types that many minority communities don't have easy access to obtain. This practice is an example of:

• Voter Suppression

• Voter Empowerment

• Civic Engagement

• Political Participation

A country where there is no functioning government, different groups fight for control, and basic services have broken down would be experiencing:

• Anarchy

• Democracy

• Monarchy

• Oligarchy

When public schools receive different funding based on local property taxes, creating better-resourced schools in wealthy areas, this reflects:

• Socio-Economic Status

• Educational Inequality

• Government Policy

• Urban Development

The difference between a CEO making $10 million per year while entry-level workers make $30,000 represents:

• Income Distribution

• Wealth Inequality

• Economic Disparity

• Salary Gap

In Country B, local communities still trade goods directly for other goods, and economic decisions are based on centuries-old customs. This is an example of:

• Market Economy

• Command Economy

• Traditional Economy

• Mixed Economy

When the price of bread rises from $2 to $4, then to $8, while wages stay the same, this economic situation is called:

• Deflation

• Stagflation

• Inflation

• Recession