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Government, Economy, and Political Influences Quiz

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Which economic system is characterized by private ownership of the means of production and market-based allocation of resources?

Capitalism

Explanation

Private ownership and market allocation define capitalism.

Who is often referred to as the 'Father of Economics'?

Adam Smith

Explanation

Adam Smith is renowned as the 'Father of Economics.'

Which of the following is a characteristic of a democratic form of government?

Regular free and fair elections

Explanation

Regular free and fair elections are a hallmark of democracy.

Who is the head of state in the United States?

President

Explanation

The President serves as the head of state in the United States.

What is the term for a system of government in which power is divided between a central authority and constituent political units such as states or provinces?

Federal system

Explanation

A federal system divides power between central and local authorities.

Which of the following is NOT a branch of the U.S. government?

Confederate

Explanation

Confederate is not a branch of the U.S. government.

Which economic theory suggests that government intervention in the economy should be limited to ensure free markets?

Neoliberalism

Explanation

Neoliberalism advocates limited government intervention.

Which political ideology advocates for the abolition of private property and the establishment of a classless society?

Anarchism

Explanation

Anarchism aims for a classless society and abolishing private property.

In the United States, which branch of government is responsible for interpreting laws?

Judicial

Explanation

The judicial branch interprets laws in the United States.

#10

Which economic theory argues that government spending should be increased during economic downturns to stimulate demand?

Keynesian economics

Explanation

Keynesian economics advocates increased government spending during downturns.

#11

Who wrote the book 'The Wealth of Nations,' which laid the groundwork for classical economics?

Adam Smith

Explanation

Adam Smith authored 'The Wealth of Nations,' a foundation of classical economics.

#12

Which term refers to the total value of all goods and services produced by a country in a given period?

Gross Domestic Product (GDP)

Explanation

GDP measures the total value of a country's production.

#13

Which of the following is a characteristic of a parliamentary system of government?

Ceremonial head of state

Explanation

A ceremonial head of state is characteristic of a parliamentary system.

#14

Who is often credited with developing the concept of the 'social contract'?

Thomas Hobbes

Explanation

Thomas Hobbes is credited with developing the concept of the social contract.

#15

Which term refers to the ability of a government to control its own territory and exert authority over its citizens?

Sovereignty

Explanation

Sovereignty refers to a government's control over its territory and citizens.

Government, Economy, and Political Influences Quiz

Which economic system is characterized by private ownership of the means of production and market-based allocation of resources?

Who is often referred to as the 'Father of Economics'?

Which of the following is a characteristic of a democratic form of government?

Who is the head of state in the United States?

What is the term for a system of government in which power is divided between a central authority and constituent political units such as states or provinces?

Which of the following is NOT a branch of the U.S. government?

Which economic theory suggests that government intervention in the economy should be limited to ensure free markets?

Which political ideology advocates for the abolition of private property and the establishment of a classless society?

In the United States, which branch of government is responsible for interpreting laws?

Which economic theory argues that government spending should be increased during economic downturns to stimulate demand?

Who wrote the book 'The Wealth of Nations,' which laid the groundwork for classical economics?

Which term refers to the total value of all goods and services produced by a country in a given period?

Which of the following is a characteristic of a parliamentary system of government?

Who is often credited with developing the concept of the 'social contract'?

Which term refers to the ability of a government to control its own territory and exert authority over its citizens?

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