Terms
The institutional mechanism through which resources are utilized to satisfy humans wants.
What is the Economic System?
Tax rate can be created by?
What is total taxable income?
When did the slave trade last?
What is 1500 to 1866?
The unemployment rate for African Americans is currently
What is 6.8%?
Land, Labor, Capital, and Entrepreneurship are
What are the four factors of production?
What does GDP stand for?
What is Gross Domestic Product
What is the current social security rate?
What is 6.2%?
How many slaves were on the first boat to America?
What are 12 slaves?
People who have a job and those who are in employment.
What are the components of the labor force?
Change in taxes due/Change in taxable income
What is the Marginal Tax Rate?
What are net exports?
What is total exports - total imports
Unit tax refers to..?
What is constant tax assessed on each unit good sold?
The Southern economy foundation started from this?
What is slavery?
What is the Labor Force?
What is Employed + Unemployed
the main source of government funding
what are taxes?
What is the distribution of tax burdens among groups.
What is Tax Incidence ?
What is the formula for net income?
Gross income - expenses
Where did slaves come from?
What is West Africa?
What is unemployment?
What is people that are without work but looking and receiving assistance.
What makes up net worth
what are Assets-Liabilities
What is Net Capital Inflow?
what is the total flow of funds into a country minus the total flow of funds out of a country.
What are dividends?
What are good that were produced on plantations?
What is tobacco,sugar,rice,rum, and cotton?
When someone has a job during the winter season, but not other seasons.
What is seasonal unemployment?
What percentage of African Americans are homeowners?
What is 41%?