Chapter 11
This governmental group enforces the tax code
What is the IRS?
The largest stock market in the world
What is the NYSE?
The is one of two government-sponsored investment corporations that buys mortgages that lending companies issue.
What is Fannie Mae or Freddie Mac?
America's largest crop
What is corn?
The inability to pay one's debts
What is bankruptcy?
The federal government pays these to farmers and companies seeking to develop alt. energy sources.
What are subsidies?
An electronic stock market founded in 1973
What is the NASDAQ?
The average length of a recession since World War II
What is eleven months?
A federal program that provides medical coverage for the poor
What is Medicaid?
Insurance manages this four-letter word
What is risk?
The amount that the government spends in a given year that exceeds its revenue for that year
What is a deficit?
The prices of shares of stocks is determined by _______ and _______.
What is supply and demand?
An emergency supply of oil that the U.S. government maintains in underground storage facilities
What is the Strategic Petroleum Reserve?
The economic boom of the 1990s
What was the high-tech bubble?
Christians are spiritual beings in this kind of world
What is physical?
This three-member group advises the president on economic policy
What is the Council of Economic Advisors?
The consumer price index is an estimate of what the typical _______ consumer has to pay for a sampling of typical goods and services.
What is urban?
The tendency of people to engage in riskier behavior if other people bear or share the cost of that behavior
What is moral hazard?
A federal program that provides retirement benefits for workers and survivor benefits for their families
What is Social Security?
This type of economy is based on principles such as goodness, fairness, honesty and justice
What is moral?
This person develops trade and conducts trade negotiations with other countries
Who is the U.S. Trade Representative?
The production of a nation's permanent residents, whether that production occurs within the country or elsewhere
What is the Gross National Product?
This act passed in 2010 mandates that every American (with a few exceptions) must have health insurance coverage or pay a penalty.
What is the Affordable Care Act?
Short-term loans that companies obtain to make their payroll
What is commercial paper?
This two-word phrase describes the standard of living that Jesus offers
What is eternal life?