Taxes
THIS type of tax involves all people paying the same percentage of their income.
What is a flat/ proportional tax?
US bills are the finest quality THIS in the world.
What is engraving?
THIS type of economy includes both market and centrally planned principles.
What is mixed?
This is the economic question governments ask when deciding how to spend their revenue.
What is guns or butter?
THIS type of economy involves the government making the decisions about the three economic questions.
What is centrally planned?
THIS is the type of income tax that Americans currently pay.
What is progressive?
THIS type of money describes the US dollar.
What is fiat?
The law of demand states that when these go up, demand goes down.
What are prices?
THIS type of economics looks at individual decisions of consumers and businesses.
What is microeconomics?
The factors of production include labor, capital, entrepreneurs, and THIS.
What is land?
THIS organization oversees taxation in the US.
What is the IRS?
A goat is THIS type of money.
What is commodity?
THIS is the concept that when prices go up, so does the amount produced.
What is the law of supply?
THIS type of business is owned by stockholders.
What is a corporation?
Bananas have THIS type of supply because it is difficult to increase their production.
What is inelastic?
Your tax bracket increases as THIS increases.
What is income?
The first federal US bank had a charter for THIS many years.
What is 20?
This is where the supply and demand curves meet.
What is equilibrium price?
THIS type of business only hires union workers.
What is closed shop?
This occurs when the price of a product does not fall where the supply and demand curves cross.
What is disequilibrium?
The two purposes of a tax are to generate revenue and this.
What is discourage (disincentivize) behaviors?
The buying and selling of bonds by the Fed is called THIS; it is the Fed's most important function.
What is open market operations?
THIS is what it is called when the government puts a maximum amount a seller can charge on an item.
What is a price ceiling?
THIS type of unemployment occurs when someone has a job that is necessary for only part of the year.
What is seasonal?
THIS type of unemployment is caused by a recession in the economy.
What is cyclical?