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Question 1

What is the significance of the Fair Labor Standards Act?

Answer 1

The Fair Labor Standards Act established minimum wage, overtime pay, and child labor standards.

Question 2

What is laissez-faire economics?

Answer 2

Laissez-faire economics is an economic philosophy of free-market capitalism that opposes government intervention.

Question 3

What is supply-side economics?

Answer 3

Supply-side economics is an economic theory that argues economic growth can be most effectively fostered by lowering taxes and decreasing regulation.

Question 4

What is the difference between progressive and regressive taxes?

Answer 4

Progressive taxes increase as income increases, while regressive taxes take a larger percentage from low-income earners.

Question 5

What are means-tested benefits?

Answer 5

Means-tested benefits are government programs that provide financial assistance to individuals whose income falls below a certain level.

Question 6

What is indexing?

Answer 6

Indexing is the adjustment of income payments to maintain purchasing power, often linked to inflation.

Question 7

What is shadow welfare?

Answer 7

Shadow welfare refers to non-governmental assistance programs that provide support similar to traditional welfare.

Question 8

What are Medicare and Medicaid and how are they different?

Answer 8

Medicare is a federal program for seniors and certain disabled individuals, while Medicaid is a state and federal program for low-income individuals.

Question 9

What is the difference between noncontributory and contributory programs?

Answer 9

Noncontributory programs provide benefits without requiring prior contributions, while contributory programs require individuals to pay into the system.

Question 10

What is a cost-of-living adjustment?

Answer 10

A cost-of-living adjustment is an increase in income to keep up with inflation.

Question 11

How do America’s health care costs compare to the rest of the world?

Answer 11

America’s health care costs are significantly higher than those of other countries, often without corresponding outcomes.

Question 12

When was the last balanced budget?

Answer 12

The last balanced budget occurred in 2001.

Question 13

What is a budget deficit?

Answer 13

A budget deficit occurs when expenses exceed revenue.

Question 14

What is the national debt?

Answer 14

The national debt is the total amount of money that a country’s government has borrowed.

Question 15

What is an income tax?

Answer 15

An income tax is a tax levied on individual or corporate earnings.

Question 16

What is monetary policy and what is fiscal policy?

Answer 16

Monetary policy involves managing the money supply and interest rates, while fiscal policy involves government spending and taxation.

Question 17

What role does the Federal Reserve play in regulating the economy and what tools do they use?

Answer 17

The Federal Reserve regulates the economy by controlling the money supply and using tools like interest rates and reserve requirements.

Question 18

How does Congress regulate the economy?

Answer 18

Congress regulates the economy through legislation that affects taxation, spending, and economic policy.

Question 19

What is the definition of public policy?

Answer 19

Public policy is a system of laws, regulations, and actions adopted by a government.

Question 20

What economic event changed the relationship between the government and the economy?

Answer 20

The Great Depression changed the relationship between the government and the economy, leading to increased government intervention.

Question 21

What is a recession?

Answer 21

A recession is a period of economic decline characterized by falling GDP and rising unemployment.

Question 22

What is a depression?

Answer 22

A depression is a prolonged period of economic downturn that is more severe than a recession.

Question 23

What is inflation?

Answer 23

Inflation is the rate at which the general level of prices for goods and services rises, eroding purchasing power.

Question 24

What is gross domestic product?

Answer 24

Gross domestic product (GDP) is the total value of all goods and services produced within a country in a specific time period.

Question 25

How is the unemployment rate measured?

Answer 25

The unemployment rate is measured by the percentage of the labor force that is unemployed and actively seeking employment.

Question 26

What are tariffs?

Answer 26

Tariffs are taxes imposed on imported goods to protect domestic industries.

Question 27

What are categorical grants?

Answer 27

Categorical grants are funds provided by the federal government to state or local governments for a specific purpose.

Question 28

What is a public good?

Answer 28

A public good is a commodity or service that is made available to all members of society.

Question 29

Who was John Maynard Keynes and what did his economic theory propose governments should do to regulate the economy?

Answer 29

John Maynard Keynes was an economist whose theory proposed that governments should increase spending and lower taxes during economic downturns.

Question 30

What is the significance of the National Labor Relations Act?

Answer 30

The National Labor Relations Act protects the rights of employees to organize and engage in collective bargaining.

Question 31

What are the main types of government?

Answer 31

The main types of government include democracy, authoritarianism, and totalitarianism.

Question 32

What is the difference between majority and plurality rule?

Answer 32

Majority rule requires more than half of votes to win, while plurality rule only requires the most votes, even if less than half.

Question 33

What main problem is caused by the nature of collective goods?

Answer 33

The main problem is the free-rider problem, where individuals benefit without contributing to the cost.

Question 34

Which civil liberty protections are contained in the original constitution?

Answer 34

The original Constitution includes protections such as the right to habeas corpus and prohibitions against ex post facto laws.

Question 35

What is sampling error?

Answer 35

Sampling error is the error caused by observing a sample instead of the whole population.

Question 36

What is the political philosophy of Hobbes & Locke?

Answer 36

Hobbes believed in a strong central authority, while Locke emphasized individual rights and government by consent.

Question 37

What is the main federal legislation aimed at protecting women’s rights?

Answer 37

The main federal legislation is the Equal Pay Act and Title IX.

Question 38

Distinguish between pure and symbolic speech.

Answer 38

Pure speech is verbal communication, while symbolic speech involves actions or symbols to convey a message.

Question 39

Distinguish between interest groups, political parties, and labor unions.

Answer 39

Interest groups advocate for specific issues, political parties seek to gain control of government, and labor unions represent workers' interests.

Question 40

What is the difference between trustee and instructed delegate theories of representation?

Answer 40

Trustee theory allows representatives to make decisions based on their judgment, while instructed delegate theory requires them to act according to constituents' wishes.

Question 41

What is the main way of holding public officials accountable in a democracy?

Answer 41

The main way is through elections, where voters can choose to re-elect or remove officials.

Question 42

What is the main program aimed at ensuring that low-income Americans receive a nutritionally adequate diet?

Answer 42

The main program is the Supplemental Nutrition Assistance Program (SNAP).

Question 43

Which three legal tests are used by the Supreme Court to determine when unequal treatment is legal?

Answer 43

The three tests are strict scrutiny, intermediate scrutiny, and rational basis.

Question 44

What are the key features of the Civil Rights Act of 1964?

Answer 44

Key features include prohibiting discrimination based on race, color, religion, sex, or national origin.

Question 45

What is the minimum voting age in the US?

Answer 45

The minimum voting age in the US is 18 years.

Question 46

What is the rational ignorance effect?

Answer 46

The rational ignorance effect occurs when individuals choose not to become informed about political issues because the cost of information outweighs the perceived benefit.

Question 47

What is the difference between tracking polls, exit polls, and push polls?

Answer 47

Tracking polls measure changes in public opinion over time, exit polls survey voters after they have cast their ballots, and push polls attempt to influence opinions under the guise of polling.

Question 48

What is the difference between “hard” and “soft” money in election campaigns?

Answer 48

Hard money is regulated and directly contributed to candidates, while soft money is unregulated and used for party-building activities.

Question 49

What are: whistle-blowers, the Freedom of Information Act, sunshine laws, and sunset laws?

Answer 49

Whistle-blowers report illegal activities, the Freedom of Information Act allows public access to government records, sunshine laws require meetings to be open to the public, and sunset laws set expiration dates for legislation.