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WorksheetsFinal SOL Review #3
Total questions: 55
Worksheet time: 42mins
Name
Class
Date
1.
The first form of national government for the independent states was created by the ___?__.
a)
Declaration of Independence
b)
Articles of Confederation
c)
Mayflower Compact
d)
Virginia Declaration of Rights
2.
Which document established and affirmed the unalienable rights of the colonists?
a)
Charters of the VA Company of London
b)
Declaration of Independence
c)
Articles of Confederation
d)
VA Statute of Religious Freedom
3.
How many Senators are there in Congress?
a)
25
b)
2
c)
100
d)
150
4.
How long is the term for a Senator?
a)
6 years
b)
5 years
c)
4 years
d)
2 years
5.
What is the name for a rough draft of a law?
a)
law
b)
Act
c)
bill
d)
draft
6.
What is the name for a rough draft of a law?
a)
law
b)
Act
c)
bill
d)
draft
7.
The instructions for Congress can be found in the ____
a)
Declaration of Independence
b)
Preamble of the Constitution
c)
Amendments to theConstitution
d)
Article I of the Constitution
8.
Legislate ...
a)
means lawmaking
b)
is a verb that means to make laws
c)
is a person who makes laws
d)
is a written document that is or may become a law
9.
Congress is ___, which means it is made up of 2 chambers.
a)
bicameral
b)
cameral
c)
unicameral
d)
representative
10.
There are currently ___ Representatives serving in Congress.
a)
100
b)
25
c)
435
d)
2
11.
Congress can override a President's veto by a ___ vote.
a)
1/2
b)
2/3
c)
3/3
d)
none of these
12.
Which action will the government take when it needs more money?
a)
hold elections
b)
lower prices
c)
increase taxes
d)
hire workers
13.
Why have only 27 amendments been added to the Constitution of the United States in more than 200 years?
a)
The process of adding amendments is very complex.
b)
The courts strike down many amendments.
c)
National laws limit the number of amendments.
d)
Changes in society are too small to require amendments.
14.
We, the People of the United States, in order to form a more perfect union...
-Constitution of the United States, 1787
This phrase best refers to the-
-Constitution of the United States, 1787
This phrase best refers to the-
a)
failed policies made by foreign officials.
b)
grievances in teh Declaration of Independence.
c)
national problems caused by outdated laws.
d)
weaknesses within the Articles of Confederation.
15.
Which branch of the government has the power to declare Virginia laws unconstitutional?
a)
State judicial branch
b)
Federal executive branch
c)
State executive branch
d)
Federal legislative branch
16.
President Vetoes a Legislative Bill
This action is one way the president can influence-
This action is one way the president can influence-
a)
judicial review
b)
foreign affairs
c)
international trade
d)
national policies
17.
In which court case did the United States Supreme Court establish the power of judicial review?
a)
Dred Scott v. Sanford
b)
Brown v. Board of Education
c)
Marbury v. Madison
d)
Plessy v. Ferguson
18.
President of the United States says-
I ask Congress to make a law to expand the national highway system.
Which executive power is being demonstrated?
I ask Congress to make a law to expand the national highway system.
Which executive power is being demonstrated?
a)
Power to influence legislation.
b)
Ability to veto legislation.
c)
Power to approve cabinet members.
d)
Ability to change judicial decisions.
19.
What is profit?
a)
Price consumers pay for goods and services
b)
Money that is left after all expenses have been paid
c)
Taxes paid to the government
d)
All of the money a business earns
20.
What type of business organization is characterized by the list?
a)
Corporation
b)
Cooperative
c)
Proprietorship
d)
Partnership
21.
Consumers determine what goods and services will be produced based on the products they purchase. This is known as —
a)
Competition
b)
consumer sovereignty
c)
command economy
d)
profit
22.
In what economic system does John live?
a)
Barter
b)
Command
c)
Traditional
d)
Free market
23.
Which type of business organization can act as one legal entity regardless of its number of owners?
a)
Corporation
b)
Partnership
c)
Proprietorship
d)
Entrepreneurship
24.
Which type of business can only be owned by one person?
a)
Corporation
b)
Proprietorship
c)
Partnership
d)
Entrepreneurship
25.
In a free market economy, who decided what, how, and for whom to produce?
a)
Government
b)
Traders
c)
Private business owners
d)
Managers
26.
Who owns the factors of production in a mixed economy?
a)
People
b)
Business owners
c)
Government
d)
All of the above
27.
If a corporation fails, the owners' liability is their —
a)
Savings
b)
Investment
c)
Property
d)
income
28.
In which type of economic system does Mary Ann work?
a)
Mixed
b)
Command
c)
Traditional
d)
Free market
29.
In a command economy, the ____ has few choices because the ____decides what, how and for whom to produce?
a)
consumer -
businesses
businesses
b)
individuals -
customs
customs
c)
government -
businesses
businesses
d)
consumer -
government
government
30.
A ___ is a business owned by many but treated by the law as one person.
a)
corporation
b)
manager
c)
board of directors
d)
partnership
31.
What type of economic system does the United States have?
a)
Mixed
b)
Traditional
c)
Free market
d)
Command
32.
Which type of economy is being described?
a)
Command
b)
Free market
c)
Mixed
d)
Traditional
33.
An entrepreneur is a person who —
a)
shares the risk of producing goods and services with the government
b)
buys shares of a business in order to get dividends in return
c)
owns a business that is controlled by the government
d)
takes a risk to produce goods and services in hopes of gaining profit
34.
The type of economy a country has is determined by the ____.
a)
amount of government involvement in economic decision-making
b)
number of consumers and producers in the market
c)
the interaction of supply and demand in the market
d)
the people’s vote in the economic decision-making
35.
An example of a government-owned resource is:
a)
Restaurant
b)
postal system
c)
grocery store chain
36.
An example of entrepreneurship is:
a)
starting a computer business
b)
working at a factory
c)
teaching at a school
37.
A market economy has
ownership of property and resources.
ownership of property and resources.
a)
private
b)
government
c)
tribal
38.
Which economic system would be the worst for competition between producers?
a)
command
b)
market
c)
Traditional
39.
What term describes the tools and technology used to make a product?
a)
capital goods
b)
human capital
c)
exports
d)
imports
40.
A person that takes a risk by starting a new business.
a)
human capital
b)
capital goods
c)
entreprenuer
d)
tariff
41.
Choosing to make cars instead of trucks results in
a)
opportunity cost
b)
increased wealth
c)
expanding the production possibilities curve
d)
TINSTAAFL rating upgrade
42.
Who controls the monetary policy?
a)
The President
b)
Federal Government
c)
Federal Reserve
d)
Mr. Shinn
43.
What term describes the Federal Reserve’s control of the money supply by adjusting interest rates?
a)
Fiscal Policy
b)
Federal Control
c)
Monetary Policy
d)
banking
44.
In a traditional economy, how are economic decisions made?
a)
custom and habit
b)
government leaders
c)
consumers and planners
d)
combination of consumers and producers
45.
What is human capital?
a)
Taxes collected from a country's workers
b)
Money paid to workers for producing goods
c)
Skills and education workers have
d)
The amount of goods sold in foreign trade in a year
46.
Which of the following is a need?
a)
clothes
b)
car
c)
job
d)
smart phone
47.
Opportunity Cost is best defined as
a)
The best rejected alternative you give up when making a decision
b)
The price you pay to purchase something
c)
The benefit you gain by making a decision
d)
The amount of debt you take on by making a decision
48.
The Federal Reserve System conducts its business directly with
a)
the government and banks
b)
stock markets and bond markets
c)
individuals and firms
d)
product markets and factor markets
49.
What type of business must go through steps to be certified by the government?
a)
Properietership
b)
Partnership
c)
Corperation
d)
Conglomeration
50.
Sole proprietorship, partnerships, and corporations are the three types of WHAT?
a)
Schools
b)
Companies
c)
Businesses
d)
Corporations
51.
Interstate highways, the postal service, and national defense are all examples of WHAT?
a)
Private goods
b)
Antitrust legislation
c)
Public goods
d)
Government agencies
52.
Banks, credit unions, and savings and loans, and any firm that receives deposits and makes loans are all types of what?
a)
Financial communication commissions
b)
Private financial institutions
c)
Public financial institutions
d)
Deposit insurance companies
53.
Where does Congress get the authority to tax personal and business incomes?
a)
14th Amendment
b)
16th Amendment
c)
1st Amendment
d)
5th Amendment
54.
Which government agency oversees how businesses advertise, and protects consumers from false or misleading advertisements?
a)
FCC
b)
FTC
c)
EPA
d)
FDIC
55.
The federal reserve is the nation's central ______.
a)
Lender
b)
Vault
c)
Bank
d)
Tax database
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