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Melody Pond
Prisoner Zero
Space Cowboy
Don't Blink
Wibbly-Wobbly Timey-Wimey Stuff
100
The main source of revenue for the Federal government.
What is individual income tax?
100
When the IRS checks some returns more carefully.
What is an audit?
100
When a government spends more than they take in.
What is a deficit?
100
Tax system the requires higher income citizens to pay a higher percent of income tax.
What is Progressive?
100
Tax structure that requires lower income individuals to pay more than higher income individuals.
What is Regressive?
200
Tax on items that are given from one person to another that are greater than $12,000.
What is Gift Tax?
200
When the price of foreign goods is raised to be more competitive with domestic goods.
What is a customs duty?
200
When the price of foreign goods is raised higher than domestic goods to make them less competitive.
What is a protective tariff?
200
Person who said, "Nothing is certain, but death and taxes."
Who is Benjamin Franklin?
200
This is the term for the money that your employer holds to pay your income taxes for you.
What is withholding?
300
Tax on items left to others after death that exceeds $2 million
What is Estate tax?
300
This policy is achieved through controlling the money supply and cost of borrowing.
What is monetary policy?
300
This policy is achieved through government spending and taxation.
What is fiscal policy?
300
Spending by the federal government that is deemed in the best interest of the public, but is not required to be spent.
What is discretionary spending?
300
Total amount of all things owed by the federal government.
What is National Debt?
400
The yearly sum of all goods and products produced in a country.
What is Gross National Product?
400
Incredibly safe investments that allow persons to loan small amounts of money to the government.
What are securities?
400
Total income minus deductions and exemptions.
What is taxable income?
400
Taxes on goods that are deemed "unnecessary."
What is an excise tax?
400
Member banks interest rate from the Fed.
What is discount rate?
500
Over half of the federal budget goes to this which includes Social Security, Medicaid, and Medicare.
What is Direct Benefit Payments?
500
Member Banks are more likely to lend when this happens.
What is Lowering Federal Reserve rate?
500
Organization that is the central banking system in the US.
What is the Fed/Federal Reserve?
500
Action that the Fed can use to require members banks to have a certain amount of money on hand.
What is change reserve rate?
500
Banks are less likely to lend when this happens.
What is Raising the Reserve Requirement?