Taxes
Government Spending
Money & Banking
Federal Reserve
Misc.
100
The main reason the Federal Government collects taxes is to do this.
What is pay for things?
100
A social welfare program providing benefits to people who meet certain requirements is this.
What is an entitlement?
100
Money that can also be used as an economic good is called this.
What is commodity money?
100
The Federal Reserve was established in this year.
What is 1913?
100
M1 money contains this.
What are currency and traveler's checks?
200
The tax on the manufacture and sale of selected items is called this.
What is excise tax?
200
When revenue exceeds expenditures, it is called this.
What is a budget surplus?
200
The three functions of money are Medium of Exchange, Measure of Value, and this.
What is what is Store of Value?
200
The Federal Reserve is divided into this number of districts.
What is 12?
200
Money by government decree is called this.
What is Fiat Money?
300
When your tax rate goes up as your pay check goes up, it is called this.
What is a progressive tax?
300
Besides taxes, the Federal Government gets money from the selling of ________, which is like a loan to the Government.
What is a bond?
300
The four characteristics of money are Portability, Durability, Limited Availability, and this.
What is Divisibility?
300
In the short run, what happens to interest rates when the Fed increases the money supply?
What is lower interest rates?
300
If a Tight Money Policy lasts too long, it could lead to this.
What is recession/unemployment.
400
Social Security and Medicare are paid for with this tax.
What is FICA?
400
The Federal Government always ends its fiscal year on this date.
What is September 30th?
400
Debts and obligations are called this.
What are liabilities?
400
The Fed will lend money to a bank in a financial emergency. This means the Fed is the "Lender of ...."
What is "last resort"?
400
Changing the reserve requirement, and buying and selling of bonds, are both tools of the Fed. The last one is this.
What is changing the discount rate?
500
The authority for the Federal Government to tax your income comes from this.
What is the 16th Amendment?
500
The "crowding-out-effect" is caused by this.
What is big budget deficit?
500
This insurance corporation was established by the government to protect the average American's savings.
What is FDIC?
500
If an Easy Money Policy goes on for too long, it can lead to this.
What is inflation?
500
A bank balance sheet shows net worth, legal reserves, and this.
What are deposits and loans?
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