Summary GED Social Studies

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