Dave
vocabulary
economies of the world
taxes
miscellaneous
100
What is the dollar amount you need in an emergency fund if you earn less than $20,000
$500
100
This is a situation in which some necessities have little value while some non-necessities have a much higher value
What is paradox of value
100
The purpose of government in this economy is to make all the major decisions
What is a command economy
100
This type of tax is more hurtful to those with lower incomes
What is a regressive tax (sales tax)
100
This is a proportional tax that is used to pay Medicare and Social Security.
What is FICA (Federal Insurance Contributions Act)
200
$1000 What is amount you need in a savings account if you earn $20,000 or more
$1000
200
Manufactured goods needed to produce other goods and services
What are capital goods
200
The United States has this type of economy
What is market economy (capitalism / free market or free enterprise)
200
This type of tax is applied equally to eveyone no matter the income level
What is a proportional tax (state income tax / medicare and social security)
200
This is a name given for women who never are able to reach the top of the corporate ladder
What is the glass ceiling
300
You must never touch this unless there is an urgent need
What is your emergency fund
300
A division of labor can be shown by this in a factory setting
What is the assembly line
300
All economies of the world are this
What is mixed
300
This is an income tax that is used in the United States ...
What is progressive taxation
300
Many states are complaining because they are not collecting state sales tax because of these sales costing them billions of dollars.
What are the internet sales
400
Dave prefers these to certificates of depostis
What are mutual funds
400
The final dollar value of all goods and services produced within a country's borders in a single year is
What is GDP or Gross Domestic Product
400
The 3 economic questions are answered in this economy by habit or custom
What is a traditional economy
400
The authority to levy taxes came from this...
What is the 16th amendment
400
This type of tax would simplify the tax code but be unduly harsh are those with lower incomes
What is a flat tax
500
This means to spread your money and investments around
What is diversification
500
A popular model used to illustrate the concept of opportunity cost is the
What is the production possibilities frontier
500
Which economic system is inequitable?
What is a market economy
500
This type of tax is used to steer people's behavior. What is it called?
What is a sin tax.
500
Minimum wage fulfills this economic goal of the US
What is equity.
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