Taxes/GDP
GDP/Govt
Taxes/etc.
Trade
Etc.
100
This is an example of a progressive and regressive tax
What is income tax; what is sales tax?
100
Anything used to create or build anything else is this type of good
What is an intermediate good?
100
These are three qualities of a good tax
What is simple to understand, reliable, equitable and efficiently collected?
100
This is an example of trade in labor
What is immigration?
100
This type of policy helps infant industries
What is protectionism?
200
This is the formula for GDP
What C (consumer) plus I (investment) plus G (government) plus (X-M) (exports minus imports)
200
Government spending on a good not required by law
What is discretionary spending?
200
Three examples of automatic stabilizers
What is unemployment insurance, social security and medicare/medicaid?
200
This is an example of trade in services
What are vacations?
200
This type of policy encourages consumer spending
What are damend side policies?
300
This is another word for "flat" tax
What is a proportional tax?
300
These are two examples of mandatory govt. spending
What is spending money on defense and Entitlement services?
300
This is the type of stabilization policies that give benefits to business owners, not individuals directly
What are supply-side stabilization policies?
300
This is an example of trade in capital
What are stocks and bonds or investments?
300
These are four social costs of economic instability
What is breakdown of the family, increase in crime, political and economic instability?
400
These are two examples of an excise tax
What are alcohol and cigarette taxes?
400
This is the word for a tax that is considered fair
What is equity?
400
Scientific research and paying for national parks are examples of this type of spending
What is discretionary spending?
400
These are three examples of promoting trade
What is GATT, NAFTA and Most Favored Nation clause?
400
These are four goals of a healthy economy
What is economic growth (increasing production and innovation) and job creation; economic stability (low inflation and unemployment - low misery indez); economic efficiency (using labor and capital efficiently), and economic equity (fairness, and anti-discrimination laws)
500
The reason sales tax is regressive
What is the poor are charged the same percentage as the rich?
500
These are taxes on imported goods
What are tariffs?
500
This is the definition of a trade deficit; trade surplus?
What is importing more than exporting? Exporting more than importing?
500
These are three examples of limiting trade
What are protectionism, quotas and tariffs?
500
This is when a country has the advantage of producing certain items; These are examples of when it is good to have a strong dollar; a weak dollar
What is absolute advantage? What is cheaper to import and to travel abroad; cheaper to export and attract foreign investment?
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