Regulation
This is one of the cons (disadvantages) associated with regulations
What are higher consumer prices?
What is individual income tax?
This is the biggest spending category for the U.S government
What is health insurance?
These are the three biggest governmental expenditures
What is health care, social security, and defense?
This governmental branch creates the agencies that decide and enforce regulations
What is the Legislative Branch? (What is Congress?)
The reason the U.S tax system is considered progressive
What are lower taxes for low-income households?
This is the reason the national debt keeps growing
What is government spending more than it earns?
Two words used to describe the American budget deficit
(+100 if you explain them)
What is structural and counter-cyclical?
What is the EPA?
Who is Donald Trump?
What is a 21% tax rate?
This economic security program provides financial aid to unemployed people
What is unemployment insurance?
What is cutting costs and staff?
Agencies that are not within the executive branch are known as this
What are Independent Regulatory Commissions?
The reason sales tax affects low-income households more
What is spending more income on essentials?
(They spend more of their income on necessities)
This healthcare program is for low-income families
What is Medicaid?
This is the percent of GDP the US spent in defense in 2024
What is 3.4%?
This "era" was the beginning of the regulatory state in the USA
What is the Progressive Era?
These two southern states have no state income tax
This is the number of Americans (percentage) that do not have health insurance
What is 8%?
This economic philosophy promotes government budget discipline and structural involvement for economic stimulation
What is Keynesian Economic Philosophy?