GED Social Studies Question and answer rated A+ 2023

GED Social Studies Question and answer rated A+ 2023Monarchy One person from a royal family is ruler Dictatorship Absolute power of one leader Oligarchy Governed by a smart upper class group Representative democracy people elect officials to represent their views Central Government Also known as Federal Government Legislative branch Branch of the federal government that makes laws Executive branch Branch of the federal government that carries out laws Judicial branch Branch of the federal government that interprets laws Checks and balances A system that regulates the power of the federal government branches Veto refuse; not accept Republicans and Democrats two main political parties in US Immigrants People moving to another country Three basic economic systems Capitalism, Socialism, Communism Recession Period of low productivity and income Depression Severe recession Inflation Increase in prices Deflation Decrease in prices Communism Economic system where government interference is the most Capitalism Economic system where government interference is the least Federal Reserve System Keeps economy in balance Gross Domestic Product (GDP) Total value of goods and services produced; is used to measure economic growth Gross National Product (GNP) Indicator of GDP plus foreign investments Consumer Price Index (CPI) Measures changes in cost of living