Fiscal policy
If unemployment is too high then you need to implement expansionary or contractionary fiscal policies?
Expansionary
Who controls the money supply in the US?
What type of tax is it where all people pay the same % of their income?
Proportional tax
Total amount owed by a country is
Debt
What’s the only number that has the same number of letters as its actual value?
FOUR
What does it mean when the government runs a deficit?
Spends more than it takes in in a given year
Raising interest rates is expansionary or contractionary?
Contractionary
The higher income you make the higher % you pay in taxes. What tax system is this?
Progressive tax
If Congress and the President decide to increase spending on infrastructure, education, and environmental protections, then they are increasing
Discretionary spending
This rapper released the Album UTOPIA in 2023
Travis Scott
Colorado has a state income tax of 4.63% on all income for all citizens regardless of income. What type of tax system does this represent?
Proportional tax
What is the purpose of increasing the reserve requirement
Decrease money supply to stop inflation
What type of Tax system does the US have?
Progressive Tax
The % of deposits banks must keep and not loan out
Reserve Requirement
What type of Bird can fly backwards?
Hummingbird
The government cutting the cost of production to encourage producers to produce more is called more?
Supply side economics
Rising energy prices are pushing prices of many products higher.
Contractionary or Expansionary?
Contractionary
When you attend public schools or use public parks, what principle of taxation does this represent?
Benefits received
The interest rate banks charge each other for overnight loans
Federal Funds Rate
Which NBA team plays their Home games at the Madison Square Garden?
New York Knicks
What is one negative effect of having a high debt?
High debt can lead to higher interest payments, reduce funds for other programs, and potentially cause inflation or reduced investor confidence.
South Holland Bank has deposits of $230,000. If the reserve requirement is 12%, what reserves should the bank hold?
$27,600
What type of tax is sales tax?
Regressive
What tool does the Fed use when it buys or sells government bonds?
Open Market Operations
This show features a group of teens who run a summer beach club and is based on books by Jenny Han
The Summer I turned Pretty