What are the top three things federal taxes pay for?
What are social security, income security (pensions and welfare) and military spending?
100
What is a home loan called?
What is a mortgage?
100
True or false? farms are an example of perfect competition?
What is true?
100
Rent control on apartments is an example of a ________
What is a price ceiling?
200
Income taxes are a) progressive or b) regressive
What is a
200
The better your credit score, the lower your ________ rate will be.
What is interest?
200
What is the point where the supply and demand curve meet?
What is market equilibrium?
200
Minimum wage is an example of a price ___________
What is price floor?
300
Property taxes are a) progressive or b) proportional
What is b
300
List three things that blew up the debt:
What are military spending/wars, interest on previous debt, tax cuts, medicare spending?
300
What is interest?
What is the cost of borrowing money?
300
True or false: Mortgage interest is tax deductible
What is true
300
True or false? Mcdonald's is an example of a monopoly?
False
400
When you fill out a w-4, what are you telling your employer to do?
What is the amount you want taken out for income tax?
400
What is it called when you spend more than you make?
What is a deficit?
400
If you __________ on your loan, you can get your home taken away.
What is default?
400
How many years are most home loans?
What is 30?
400
What are the four aspects of human capital?
What is personality, social attributes, education and skills, competency?
500
What are the two principles of taxation?
What is benefit and ability to pay?
500
Which recent president balanced the budget?
Who is Bill Clinton?
500
In addition to paying your mortgage each month, you must pay: a) closing costs each month, b) property taxes
c) homeowner's insurance. d) a and b only.
What is D
500
What percentage of your monthly income should go to your mortgage, taxes and homeowner's insurance?