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Economics

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Esperanza Hahn

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Cards in this guide (16)
What is the purpose of taxation

To provide revenue to government for its operation and programs.

Which of these is an example of a tax on wealth

Real estate tax

What is the principle that justifies a regressive tax

The benefits-received principle justifies a regressive tax.

Choose the pair of phrases that correctly completes this sentence taxes are charged while tariffs are charged

internally; on imports

What does a budget reveal about a government

A budget reveals the spending plan for the fiscal year, as well as the government's financial priorities and goals.

What best explains the difference between a fixed currency and a floating currency

The price of a floating currency is determined by the currency exchange market while the price of a fixed currency is connected to the price of some other commodity.

An increase in the standard of living results from an increase in what

an increase in standard of living comes from increase in income. An increase in national income will increase the standard of living of the people of that nation.
Income

Which of the following is one disadvantage for a company that goes public

The pressure to make profits is increased.

What best states the difference between seed capital and startup capital

Seed capital is for research and planning while startup capital is for operating expenses.

What is one difference between government agencies anf government contractors

H

Which of the following is a disadvantage of debt financing

Banks are usually unwilling to fund a business in its early stages of development. Banks generally don't want to take the risk that a business will fail and default on its debt obligations.

Which ofthe following happens when a company goes public

It begins selling shares of stock in a public stock

Which of the following accurately describes the effect of a situation of scarcity

Jjj

What is an example of a labor law in economics

A restriction on when a union may call a strike

Which of the following is an example of expansionary fiscal policy

cutting taxes

Match each organization with its correct relationship to the government

A. Social security _ government agency

B. U.S. Postal Service _ government corporation

C. Boeing _ government contractor

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