In a Parliamentary System, Extended Gridlock (Failure of the Federal

question 8

Multiple Choice

In a parliamentary system, extended gridlock (failure of the federal legislature to act on issues of public concern) often leads to

• A) new elections
• B) revolutions
• C) new constitutions
• D) a return to absolute monarchy

Calculate economic profit and distinguish it from accounting profit.

Identify the components of total revenue and total cost to determine profit.

Understand opportunity costs and how they influence business decisions.

Identify the normal rate of return and its importance in economic profit calculations.

---

Definitions:

American Attitudes

The diverse beliefs, values, and perspectives held by the people of the United States.

September 11

A date marked by terrorist attacks in 2001 against the United States, mainly targeting the World Trade Center in New York City and the Pentagon.

Democratic Primaries

A series of electoral contests within the Democratic Party of the United States to select delegates who will nominate a candidate for presidential elections.

Barack Obama

The 44th President of the United States (2009–2017), notable for being the first African American to hold the office and his significant healthcare reform, the Affordable Care Act.