Financial Literacy Unit 3 Test Review

Front

Goods purchased from abroad (outside of the country)

Back

Import

Front

Tactics that make imported goods more expensive than domestic goods

Back

Protectionism

Front

Protectionism often helps a country's economy because it increases consumer options.

Back

False

Front

A limit on the amount of foreign goods imported

Back

Quota

Front

Taxes on imports

Back

Tariff

Front

The money spent on Social Security each year is an example of mandatory spending.

Back

True

Front

The U.S. Government's biggest source of revenue is income taxes.

Back

True

Front

Which of the following is NOT a responsibility of the Federal Reserve? They regulate banks, They serve as the bank of the federal government, They insure deposits up to $250,000, The regulate the nation's money supply

Back

They insure deposits up to $250,000

Front

One way the Fed protects consumers is by...

Back

specifying information lenders must provide

Front

... is the changing of the money supply to stimulate growth & keep prices stable

Back

Monetary Policy