Fiscal Policy
This type of fiscal policy is used when the government wants to increase economic activity.
What is expansionary fiscal policy?
This U.S. institution controls the money supply and adjusts interest rates to influence the economy.
The FED
In this type of tax system, higher-income individuals pay a larger percentage of their income in taxes.
What is a progressive tax system?
This term refers to the total value of goods and services produced in a country.
GDP
This video rental chain was once the go-to for renting movies and games before being overtaken by digital streaming services like Netflix.
What is Blockbuster?
This action would be taken by the government to slow down the economy and reduce inflation.
What is decreasing government spending or increasing taxes?
When the Federal Reserve raises interest rates, what is the likely result on the economy?
What is a decrease in borrowing and spending?
A sales tax is an example of this type of tax, where the tax rate is the same for all consumers regardless of income.
What is a regressive tax?
When the government wants to increase economic growth during a recession, it will often use this type of policy.
What is expansionary fiscal policy or monetary policy?
This large continent is the only one to be located in all four hemispheres and is home to the Sahara Desert.
What is Africa?
When the government decreases taxes to increase consumer spending, it’s an example of which fiscal tool?
What is expansionary fiscal policy?
A common tool the Federal Reserve uses to control inflation is adjusting this.
What is the federal funds rate or interest rates?
In a flat tax system, everyone pays the same percentage of their income. What is one disadvantage of this system?
What is it does not account for differences in income, burdening low-income individuals more?
This is the action taken by the government to reduce its spending and raise taxes during an economic boom.
What is contractionary fiscal policy?
Furthest planet from the sun (No Pluto:( )
Neptune
This term refers to a situation where the government spends more than it collects in taxes, often leading to increased borrowing.
What is a budget deficit?
This monetary policy tool involves the Federal Reserve buying or selling government securities to control the money supply.
What are open market operations?
This tax is considered progressive because it taxes individuals based on their income level.
What is the federal income tax?
When the economy is facing high inflation, which type of monetary policy would the Federal Reserve likely use?
What is contractionary monetary policy?
This classical music composer from Austria composed some of the most famous symphonies, including Symphony No. 9 "Ode to Joy."
Beethoven
The government can use this fiscal policy tool to increase demand by injecting money into the economy.
What is increasing government spending?
When the Federal Reserve lowers interest rates, it encourages people and businesses to do this with money.
What is borrow and spend?
What is it called when tax payers pay a certain dollar amount of the income at a certain percent then at the ver noter pay that portion at a higher percent. Etc. Etc.
Tiered or Step System
This is the term used when the economy slows down and businesses are producing fewer goods, often leading to higher unemployment.
What is a recession?
This technology is revolutionizing industries by replacing manual labor with machines and software that can perform tasks with little or no human intervention.
What is automation?