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Economics

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Gretchen Medhurst

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Cards in this guide (20)
What are expressed powers

Expressed powers are powers written down for Congress in the Constitution.

The federal program created in the 1960s which provides medical care to the poor and indigent who qualify is called

The federal program created in the 1960's which provides medical care to the poor and indigent who qualify is called Medicaid. Medicaid is a social program that was created in 1965,

Who runs unemployment insurance programs

Each state is responsible for and runs its own unemployment insurance program.

Which program did the Supplemental Nutrition Assistance Program replace

food stamp program

Which president signed the Medicare bill into law on July 30 1965

Lyndon B. Johnson

Who provided most charity services to the public in ancient times

churches

Which of these describes what maturity means with regard to securities

the set date upon which the treasury agrees it will pay back the loan plus the interest amount A+

How are government social programs funded

tax revenues

Which of these federal institutions carries the responsibility of managing the process of borrowing money by issuing bonds and notes

Department of the Treasury

Which type of tax is imposed on those who inherit assets from a deceased person

inheritance tax

Why are excise taxes often referred to as sin taxes

Because they are placed on items to help act as a deterrent.

Which social program provides vouchers the poor can use to purchase food

Supplemental Nutrition Assistance Program

Which event brought about a significant increase in American social programs due to its devastating effects on society

Great Depression

Which point in the business cycle has the greatest economic activity

Peak a+

How is the tax rate for inheritance tax determined

it depends on the value of the property received by the beneficiary and the relationship to the deceased.

What do most businesses and citizens prefer

Stable economy

Which phase in the business cycle occurs when the GDP increases and the amount of and services produced increases

Expansion

At which level of government is property tax assessed

Local A+

If strikes threaten national health or security the Taft-Hartley Act gives the executive branch of the Federal Government the right to break the strikes with what

80-day court injunctions

Under which circumstances do individuals and couples qualify for earned Income Tax Credit

Low income or having dependent children

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