Cards in this guide (21)
What protections are guaranteed to the people by the First Amendment to the US Constitution
gives us the freedom of speech
Under what heading did the social programs of the 1930s come
During this event a country stops all trade with another country
Which of these agencies is health insurance program for most elderly persons
Caveat emptor means that the producer will be protected against fraudulent business practices but must protect the consumer
Social security payments may be paid to dependent surviving children until they are 18
Social security payments may be made to dependent children until
they are 18.
true
A program called the new deal was put into effect in which year
The growth of technology has had little effect on the amount of goods and services produced in other countries
Under which of these were dams built where they were needed to provide electric power to urban and rural areas
Tennessee Valley Authority
Which of these terms is defined as an ordered suspension of activity
Which of these terms is defined as a decline in economic activity that usually lasts six months or longer
How can the national debt be eliminated
By balancing the budget. This can be done by increasing
government income (raising taxes) and decreasing government
expenditure.
What term refers to the situation that results when a country imports more goods than it exports
What was the housing bubble
A housing bubble is when, throughout the economy, more money has
been borrowed against the paper value of a home than it can be
resold for. During the last bubble, roughly 2007 -12, many people
had borrowed against and/or refinanced their homes up to inflated
values. Essentially, they were treating the equity in the home as a
bank, cashing out to consolidate debt or to buy other things. The
banks who made the loans, then bundled these mortgages into
investments. When the economy tanked, people lost their jobs and
could not make the payments. They became "underwater", which meant
that they would owe more money on the loan than they could sell
for. This caused a lot of foreclosures, where people walked away
from their loans and the banks owned the houses which they could
not sell either. The investments dropped in value. Another piece of
this was that, with the easy money policies, underwriting of loans
was extremely loose. There were loan applications where people
could merely state their income and what they owed and the loan was
given to them on that basis. These were called "liar's loans." They
generated large commissions for the brokers who sold them to the
banks. Millions were made and lost because the stated values had no
basis.
Who did not attend the financial summit on June 27 2010 in Toronto Canada
Which of these means spending beyond the amount of money one has available
Which term describes the state of the American economy in the first decade of the twenty-first century
To which time period does the word contemporary refer
Under which president did ben bernanke assume the role of chairman of the federal reserve system
Ben Bernanke was appointed Chairman of the Federal Reserve Sytem
on February 1, 2006 by George W. Bush.
Which terms is defined as the national government spending more money than it takes in
The basic problems of scarcity and allocation of limited resources are solved by production for use or need rather than production for profit.