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Economics

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Jasen Runte

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Term1/18
In both the socialist and communist systems the government will have a large influence on the economy
Definition1/18

True

Term1/18
Who enforces fiscal policy
Definition1/18

congress

Term1/18
During this event a country stops all trade with another country
Definition1/18

Embargo.

Term1/18
What are taxes paid on imports and exports called
Definition1/18

tariffs

Term1/18
Property tax may be levied on what type of property
Definition1/18

Real

Term1/18
Which of these taxes is paid by the consumer when a product is purchased
Definition1/18

consumption

Term1/18
If the country is in a recession what will the government do to the interest rates to stimulate the economy
Definition1/18

lower

Term1/18
Which of these does fiscal policy deal with
Definition1/18

taxation

Term1/18
Caveat emptor means that the producer will be protected against fraudulent business practices but must protect the consumer
Definition1/18

false

Term1/18
Social security payments may be paid to dependent surviving children until they are 18
Definition1/18

Social security payments may be made to dependent children until they are 18.

true

Term1/18
There is very little business activity and high unemployment during which of these
Definition1/18

trough

Term1/18
A program called the new deal was put into effect in which year
Definition1/18

1932

Term1/18
The growth of technology has had little effect on the amount of goods and services produced in other countries
Definition1/18

False

Term1/18
A progressive tax means that as taxable income increases the percentage of income paid on taxes also increases
Definition1/18

True(Kaylop)

Term1/18
Which taxes is one that supports schools
Definition1/18

ad valorem

Term1/18
A sales tax on gasoline is and example of what type of tax
Definition1/18

A sales tax on gasoline is an example of sales tax.

Term1/18
The basic problems of scarcity and allocation of limited resources are solved by production for use or need rather than production for profit.
Definition1/18

Socialism (A+)

Term1/18
Which of these are types of sales tax
Definition1/18

general and selective (A+)

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Cards in this guide (18)
In both the socialist and communist systems the government will have a large influence on the economy

True

Who enforces fiscal policy

congress

During this event a country stops all trade with another country

Embargo.

What are taxes paid on imports and exports called

tariffs

Property tax may be levied on what type of property

Real

Which of these taxes is paid by the consumer when a product is purchased

consumption

If the country is in a recession what will the government do to the interest rates to stimulate the economy

lower

Which of these does fiscal policy deal with

taxation

Caveat emptor means that the producer will be protected against fraudulent business practices but must protect the consumer

false

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

There is very little business activity and high unemployment during which of these

trough

A program called the new deal was put into effect in which year

1932

The growth of technology has had little effect on the amount of goods and services produced in other countries

False

A progressive tax means that as taxable income increases the percentage of income paid on taxes also increases

True(Kaylop)

Which taxes is one that supports schools

ad valorem

A sales tax on gasoline is and example of what type of tax

A sales tax on gasoline is an example of sales tax.

The basic problems of scarcity and allocation of limited resources are solved by production for use or need rather than production for profit.

Socialism (A+)

Which of these are types of sales tax

general and selective (A+)

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