Taxes
Unemployment, Inflation, and the debt
GDP
Econ Hodge Podge
Fed and Fiscal
100
Mark Twain said there are only two sure things in life. What are they?
What is death and taxes.
100
If we balanced the budget would that eliminate the problem with the national debt
What is no.
100
Name 2 parties that inflation helps
What is the nation's standard of living.
100
Does anyone have any economic ______?
What is newwws.
100
Head of the Fed
Who is Ben Bernancke.
200
Which form will you receive in January telling you how much has been taken out for federal taxes
What is a W-2
200
If you bring in more money than you spend it is called a _______   If you spend more money than you bring in it is called a ______
What is surplus deficit
200
Using the expenditure model, what is the largest component of GDP spending?
What is Consumer spending.
200
The more you eat the more you want contradicts this economic theory
What is diminishing marginal utility.
200
The part of the Fed that makes the major decisions on Monetary policy
What is the Board of Governors
300
Tell whether the tax is local, state, or federal   Sales Tax Property Tax Medicare
What is state local Federal
300
This is what we use to measure inflation
What is Consumer Price Index (CPI)
300
What is it called when GDP removes the effects of inflation?
What is Real GDP.
300
What is the largest city by population in the USA
What is New York City.
300
If you want to fight inflation, you should use a policy in a _______ way also called a _______
What is tight, contraction
400
Tell whether the tax is progressive, regressive, or proportional   Excise Tax Federal income tax State Income tax
What is regressive progressive proportional
400
The type of unemployment that is the most harmful to society
What is structural.
400
Tell whether these are counted in GDP   Used good sale Professional lawn mowing Soc sec check
What is no yes no
400
What function of money does the number 1 on a dollar bill represent
What is unit of account
400
Tell whether these moves are contractionary or expansionary   Raise taxes Lower the discount rate Sell bonds
What is contractionary expansionary contractionary
500
Why does Indiana not charge a sales tax on necessities
What is becaues sales tax is regressive.
500
Name 2 parties that inflation helps
What is owners of land and owners of precious metals.
500
Give the full and correct definition of GDP
What is the total marketvalue of all final goods and services produced annually in an economy
500
What type of advantage is most important in International trade
What is comparative.
500
Name 3 advantages of monetary vs fiscal policy
What is more long term in nature can be enacted more quickly less likely to be politically motivated
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