The total amount of a good or service. Also when there is not enough of a good or service. (2 answers)
What is supply and shortage.
100
The tax rate on Social Security.
What is 6.2%
100
This tax is regulated by the Federal Government.
What is Income Tax
100
These types of government are characterized by have one person in charge.
What are Autocracy's.
200
An action done by one person for another for a price.
What is a service.
200
A balanced price based on a given supply and a given demand. Also how willing a buyer is to pay for a good or service.
What is the equilibrium price and demand.
200
The tax rate on Medicare
What is 1.45%
200
This tax varies depending on value.
What is Property Tax
200
Name the three time periods that historians split Ancient Egypt in to.
What are Old Kingdom, Middle Kingdom, and New Kingdom.
300
This deals with the production consumption and transfer of wealth.
What is Economics.
300
ToysRUs decides to sell a batman action figure. However at the same time, a joker action figure is being sold and is much more popular. There would be a __________ of batman action figures and ToysRUs would have to ____________ in order to sell the batman action figure.
What is surplus and lower the price.
300
The difference between Gross Annual Income and Net Monthly Income
What is gross annual income is a person's salary per year before anything is taken out where as net monthly income is a persons salary per month after any expenses have been deducted.
300
Medical Services are exempt from this.
What is Sales Tax
300
This man was Caesar's best friend, but fell in love with Caesar's wife after Caesar died.
Who is Marc Antony
400
The definition of inflation
What is the general increase in price and fall in purchasing power of money.
400
If demand ____________, and supply stays the same, then there is a surplus, and price _____________.
What is decreases and decreases.
400
Calculate NMI after Social Security, Medicare, and Income taxes when GAI is 60,000.
What is $3,367.50
400
Name three things that are funded by Income Tax
What are Social Security, Medicare, National Defense, Interest on National Debt, Law Enforcement, Government Administration, Social Programs
400
This International Organization has members only in the northern hemisphere. You must say this organizations full name.
What is NATO (North Atlantic Treaty Organization).
500
Someone gives up going to see a movie to study for a test in order to get a good grade. List the two opportunity costs for this situation.
What is the price of the movie and the entertainment of seeing the movie.
500
In a future world Chipotle is facing a crisis. The countries of Southeast Asia have begun to breed a rare type of cow that only eats rice. Because of the abundance of these new cows, Chipotle is having trouble securing rice for their delicious burritos. At the same time, people in the Western World have caught a genetic disorder that forces them to eat Chipotle at least once a week with extra rice in their burrito or burrito bowl. If these people do not get their Chipotle fix, they will soon die. The world is in absolute chaos. Try a supply and demand curve for this horrible situation, and include what will happen to the price of Chipotle burritos.
What is see Mr. Deignan's example.
500
Roger makes 75,000 annually. Calculate the NAI for Roger after Income Tax, Social Security Tax, and Medicare Tax.
What is $50,512.50
500
Name three items that WE DISCUSSED that are deemed "taxable" items.
What are gas, liquor and tobacco, restaurant food, and shoes and clothing.
500
Name all 7 Characteristics of Civilizations.
What are a Stable Food Supply, Writing, Government, Social Structure, Religion, Arts, and Technology.