Taxes
Federal Budget
Managing the Economy
Managing the Economy Cont.
Business and Labor Policy
100
The federal income is levied on a person's?
What is Taxable Income
100
The federal budget operates in a _________ a 12 month accounting period that extends from October 1 of one year to September 30 of the next year.
What is fiscal year
100
How much money was the Federal Government spending when Franklin D. roosevelt became president in 1933?
What is $4.6 billion a year
100
The______involves using the government spending and taxation to influence the economy.
What is Fiscal Policy
100
America has a ______Economy?
What is Mixed Economy
200
Payments by individuals and businesses to support the activities of government
What is Taxes
200
The actual day-to-day preparation of the budget is the responsibility of the ______?
What is Office of Management and Budget (OMB)
200
The _______ __________ spends a sizable portion of tax revenues on the environment, transportation, criminal justice, and other areas.
What is The Federal Government
200
The______involves controlling the supply of money and credit to influence the economy.
What is Monetary Policy
200
What is a system in which the government both supports and regulates private enterprise?
What is A Mixed Economy
300
A bureau of the United States Treasury Department that collects taxes through its regional centers?
What is Internal Revenue Service (IRS)
300
Expenditures required by law or resulting from previous budgetary commitments are?
What are Uncontrollables
300
The Government uses two primary devices to influence the direction of the economy: 1._________________ 2._________________
What is: 1.Fiscal Policy 2.Monetary Policy
300
Who supervises the entire Federal Reserve System and how many board members are there?
What is The Board of Governors What is 7 Members
300
What was congress's first attempt to halt monopolies?
What was the passage of the Sherman Antitrust Act
400
What allows taxpayers to reduce their income tax liability?
What is Tax Credits
400
This law set up House and Senate Budget Committees?
What is The Congressional Budget Act of 1974
400
What is known as the central banking system of the United States?
What is The Federal Reserve System (the Fed)
400
How many Federal Reserve Districts is the United States divided into?
What is 12
400
Which Act was passed to clarify the Sherman Act?
What is the Clayton Antitrust Act
500
Which president in 1985 proposed tax changes to eliminate what he termed a "source of confusion and resentment?"
Who is President Reagan
500
What term describes the total budget only changing a little from one year to the next?
What is Incrementalism
500
What is the rate the Fed charges member banks for loans.
What is The discount rate
500
What stimulates and helps expand the Economy?
What are Open-Market Operations
500
_________are Court orders to prevent an action from taking place were often issued to force striking unions back to work
What are Injunctions
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