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This exam was created by a large language model. Please use it with caution, as inaccuracies may be present. Always verify critical information.

Which of the following best defines federalism in a governmental system?

Select one option

A system where power is divided between a central government and regional governments.

A system where all power is concentrated in a single, national government.

A system where citizens directly vote on all laws and policies.

A system where a single ruler holds absolute power, often inherited.

What is the primary purpose of the system of checks and balances in the U.S. government?

Select one option

It ensures that no single branch becomes too powerful by allowing each to limit the actions of the others.

It allows the President to appoint all federal judges without Congressional approval.

It gives the Supreme Court the authority to declare any law unconstitutional without review.

It grants unlimited power to the Legislative Branch to pass laws.

What was the main reason for the inclusion of the Bill of Rights in the U.S. Constitution?

Select one option

To establish a national religion and promote moral values.

To protect individual liberties and limit the power of the federal government.

To grant states the power to secede from the Union.

To create a powerful executive branch with broad authority.

Which of the following describes the most common method for amending the U.S. Constitution?

Select one option

A simple majority vote by the President and the Supreme Court.

A two-thirds vote in both chambers of Congress and ratification by two-thirds of the states.

A majority vote in both chambers of Congress and ratification by three-fourths of the states.

A national referendum approved by a majority of eligible voters.

Which landmark Supreme Court case established that students do not "shed their constitutional rights to freedom of speech or expression at the schoolhouse gate"?

Select one option

Marbury v. Madison

Miranda v. Arizona

Tinker v. Des Moines

Plessy v. Ferguson

What does 'due process of law' primarily refer to in the context of civil liberties?

Select one option

The right to vote in all elections.

The principle that the government must respect all of the legal rights that are owed to a person.

The power of the President to declare martial law during a crisis.

The ability of states to ignore federal laws they disagree with.

The Equal Protection Clause of the Fourteenth Amendment primarily aims to:

Select one option

Establish a national currency for all states.

Grant the federal government exclusive power over interstate commerce.

Require states to provide equal protection under the law to all people within their jurisdiction.

Allow states to discriminate against certain groups if approved by a state legislature.

Which characteristic is most associated with an authoritarian political system?

Select one option

Regular free and fair elections.

Robust protection of civil liberties.

Power is concentrated in the hands of a single leader or small group, with limited individual freedoms.

Decentralized power with strong local governance.

Which power is specifically held by the Judicial Branch of the U.S. government?

Select one option

Declare war.

Negotiate treaties.

Veto legislation.

Declare laws unconstitutional.

10.

Which of the following is a defining characteristic of a representative democracy?

Select one option

All citizens directly participate in lawmaking.

Citizens elect representatives to make decisions on their behalf.

A single monarch holds ultimate political authority.

The military controls all aspects of government.

11.

According to the Law of Supply, what happens to the quantity of a good supplied as its price increases?

Select one option

As price increases, the quantity supplied decreases.

As price increases, the quantity supplied increases.

Price has no effect on the quantity supplied.

The quantity supplied becomes perfectly inelastic.

12.

Which statement best describes the Law of Demand?

Select one option

As price decreases, the quantity demanded decreases.

As price decreases, the quantity demanded increases.

Quantity demanded is unaffected by changes in price.

Supply always equals demand regardless of price.

13.

Price elasticity of demand measures:

Select one option

How responsive the quantity supplied is to a change in price.

The total revenue generated by a firm.

How responsive the quantity demanded is to a change in price.

The impact of government subsidies on production costs.

14.

Which set of characteristics best describes a perfectly competitive market?

Select one option

One dominant firm, unique product, high barriers to entry.

Many small firms, differentiated products, high advertising costs.

Many small firms, identical products, easy entry and exit.

Few large firms, identical or differentiated products, significant barriers to entry.

15.

What is a defining characteristic of a monopoly?

Select one option

Many small firms competing on price.

A single firm dominates the market with high barriers to entry.

Firms sell slightly differentiated products.

New firms can easily enter and exit the market.

16.

Gross Domestic Product (GDP) is defined as:

Select one option

The total wealth accumulated by a nation over time.

The total value of all final goods and services produced within a country's borders in a specific time period.

The sum of all exports minus imports.

The average income of all citizens in a country.

17.

What is inflation?

Select one option

A sustained decrease in the general price level.

A general increase in the prices of goods and services over time.

A situation where an economy experiences negative economic growth.

A measure of the total output of goods and services in an economy.

18.

Cyclical unemployment refers to:

Select one option

Unemployment caused by a mismatch between skills and available jobs.

Unemployment that occurs as people move between jobs.

Unemployment that rises and falls with the business cycle.

Unemployment that results from a lack of demand for labor during a recession.

19.

Fiscal policy primarily involves:

Select one option

Adjusting interest rates and controlling the money supply.

Government spending and taxation policies.

Regulations on international trade.

Policies aimed at promoting competition in markets.

20.

Monetary policy refers to:

Select one option

Government decisions on how to allocate the national budget.

Central bank actions to control the money supply and credit conditions.

Laws passed by legislatures to regulate industries.

International agreements on currency exchange rates.

21.

Define 'Judicial Review'.

22.

Explain the role of the 'Federal Reserve'.

23.

What is 'Opportunity Cost'?

24.

Define 'Gerrymandering'.

25.

Explain the 'Law of Diminishing Returns'.

26.

Analyze how a specific branch of the U.S. government (Legislative, Executive, or Judicial) exercises its powers and interacts with the other two branches to ensure checks and balances. Provide specific historical or contemporary examples to support your analysis.

27.

Discuss the causes and effects of either inflation or unemployment in a modern economy. Propose and evaluate at least two different policy solutions (fiscal or monetary) that governments or central banks might use to address the chosen economic issue.

28.

Examine how government regulation or deregulation in a specific industry (e.g., healthcare, energy, technology) impacts economic principles such as competition, efficiency, and consumer welfare. Provide arguments for and against the government's role in this industry.