A company decides to invest funds into updating it's technology instead of investing in a new product. What is this an example of?
What is opportunity cost
100
The United Nations banned trade to a country in response to their policy of racial segregation. What term best describes this action?
What is economic sanction
100
List two responsibilities of the Federal Reserve
What is controlling the money supply, removing old currency from the economy
100
What is the purpose of NATO?
What is to protect member countries from military attack, an attack against one is an attack against all
100
What is the goal of a requirement that forces welfare recipients to work in order to receive payments?
What is gives individuals an opportunity to learn new skills and get a job
200
Provide an example of government funding based on population.
What is school districts receive money for each student enrolled
200
In 1972 144 countries signed a treaty banning the development, production and storage of biological weapons. What was the goal of this treaty?
What is to prevent the use of biological weapons in war
200
What action by the federal government would reduce inflation?
What is decrease spending and the money supply
200
In what scenarios would the International Red Cross become involved?
What is helping refugees get food and shelter, providing medicine to victims of natural disasters etc.
200
What do Medicaid, food stamps, and Social Security have in common?
What is they provide support for the people in the United States, they are entitlement programs
300
A federal company recently charged Toy R US with pressuring manufacturers to supply exclusively to its store. This is an example of what?
What is preventing unfair competition in an industry
300
The U.S. has set high taxes, or tariffs, on imported lumber. What is the purpose of this type of action?
What is to protect the US lumber industry
300
Why would the federal reserve increase the money supply when unemployment has risen?
What is to make it easier for businesses to borrow money to expand their company and hire more people
300
How has NAFTA impacted trade between the US, Canada and Mexico?
What is tariffs on all goods and services were reduced, improving trade
300
How would a county experiencing population growth be impacted?
What is an increase in the need for public services
400
List two weaknesses of the Articles of Confederation.
What is : no president, inability to collect taxes, no nation wide military, 9 out of 13 majority to pass laws
400
What is the result of free trade between countries?
What is a larger market for goods
400
Which of these activities is more influenced by the Federal Reserve? (A) purchasing plane tickets (B) using medication (C) applying for a home mortgage
What is Applying for a home mortgage
400
The United States has declared that it will "stand by it's ally South Korea" should it be invaded by North Korea. What is the goal of this action?
What is to suppress acts of aggression
400
Which of these has contributed most to the discussion of reforming the social security system?
What is Americans are living longer than ever before
500
Between the 40s and 60s, there was a large population increase called the "baby boom". What federal agency would be most affected by the aging of this population?
(A) department of labor (B) Social Security Administration (C) Federal Trade Commission (D) Agriculture Department
What is (B) Social Security Administration
500
Why would a country refuse to cooperate with international fishing limits? (A) avoid high tariffs (B) encourage international trade (C) guard economic self-interest
What is (A) avoid high tariffs
500
What specific action by the Federal Reserve would combat inflation? (use actions from your packet)
What is Sell Securities, raise the discount rate, raise the reserve requirement
500
What is the main goal of the World Bank and the International Monetary Fund?
What is to improve the economies of member nations
500
If tax revenue decreased, what would be the effect on the state of Maryland?
What is Maryland would reduce funding for some programs