All About Money
This is the main reason we use currency.
What is a way to trade?
This is what currency loses when the economy experiences an inflation
What is purchasing power?
What are SNAP benefits or Food Stamps?
This is the form you can look at to find your yearly total income along with how much was withheld for state and federal taxes.
What is a W-2 Form?
This type of insurance is often required by law to have in most states.
What is auto insurance?
This is the index most commonly used to understand the buying power of a currency.
What is the Coca Cola Index?
The inflation rate measures this economic metric.
What is the changes in prices in a year?
When taxes go to providing schools with updated technology and textbooks, they were used to fund this federal program.
What is Education?
This is used to describe the amount of money you have after federal taxes have been deducted from your income, sometimes it is called a "Take Home Pay".
What is net income?
This system is used by most health insurance companies where everyone pays into the system, but only the people who need it file claims.
What is risk-pooling?
This is the national system of banks that influences and controls the economy and the money supply.
What is the Federal Reserve or the FED?
A measure of the average change over time in the prices paid by urban consumers for a market basket of goods and services.
What is the Consumer Price Index?
The most common place American tax dollars go, the United States is ranked number one in the world in this regard.
What is the Military Budget?
This is the legal way to reduce your taxes as opposed to the illegal way to do so.
What is tax avoidance?
This is the money you pay upfront for a medical expense if you are covered by insurance.
What is a co-pay?
The first known coins were minted this year in this place.
What it 600 BCE in Ancient Lydia?
Venezuelan consumers had to do this in order to pay for average item during the height of Venezuela's economic hyperinflation.
What is weigh their money on a scale?
When taxes go to support our veterans, this bill supports the use of funding to go towards a college tuition.
What is the GI Bill?
This is the tax system used by the American government in which the more money you make, the higher you are taxed.
What is a progressive tax system?
This type of life insurance is used by the average American worker, and it only lasts for a set number of years.
What is Term Life Insurance?
A type of currency declared as legal tender by a government, for example: the United States Dollar.
In the video game Diablo III, a failure of these systems caused a hyperinflation rate of 1,000,000%.
What are economic faucets and drains?
When taxes go into funding the upkeep of roads, bridges, and buildings they are being sent to this federal program.
What is infrastructure?
This was the federal amendment to the US Constitution that gave the government the right to place a federal income tax on its citizens.
What is the sixteenth amendment?
This is what happens if the prices of health insurance rise so high that even healthy people drop out.
What is a Death Spiral?