The type of loan that you take out to purchase a home is known as this.
What is a mortgage?
100
The basic economic problem that arises because people have unlimited wants but resources are limited. Because of this, various economic decisions must be made to allocate resources efficiently
What is scarcity?
200
The United States of America.
What is a democracy ?
200
The tax paid on money earned from all sources.
What is income tax?
200
This branch interprets the law.
What is the judicial branch?
200
There are 4 parts to the business or economic cycle. Name and briefly explain each one.
What are trough, expansion, peak, contraction or recession.
200
The Legislative Branch is made up of these organizations.
What is The Senate and The House of Representatives?
300
Great Britain under King Henry VIII.
What is a Monachy?
300
The more you earn, the more you pay
What is a progressive tax?
300
The 1st Amendment protects this.
What is the freedom of speech, freedom of peaceful assembly, freedom of the press and freedom of religion.
300
Janelle has just been elected President of a new country. She is looking to have an economy that is controlled entirely by her and the government. What type of economy should she have?
What is a command economy.
300
Name 2 things that state taxes pay for:
What is
1. Primary and Secondary Education
2. Higher Education
3. Transportation infrastructure
4. Prisons
5. State Medicaid
400
Iran - ruled by a religious counsel and a Supreme Ayatollah.
What is a theocracy?
400
A hidden tax on items like alcohol and tobacco.
What is an excise tax?
400
The MB case that we studied this year was about which amendment? (Illegal Searches and Seizures)
What is the 4th Amendment?
400
Name one of the 3 Credit reporting bureaus
What are:
Transunion
Equifax
Experian
400
Steve Jobs, Bill Gates, Estee Lauder, Walt Disney, John Rockefeller, Mark Zuckerberg
Who are entrepreneurs?
500
Myanmar - currently ruled by the military.
What is a junta?
500
A tax paid on goods and services imported from other countries.
What is a tariff?
500
Name their titles:
Michael Hancock, John Hickenlooper, Barack Obama.
What is Mayor, Governor, President
500
Name all 3 tools The Federal Reserve uses to control the money supply.
What are:
1. Open Market Operations
2. Reserve Requirements
3. Discount Rate
500
Of a Governor, Supreme Court Justice, President, Representative, Mayor or Senator, and this one has the longest term in office.