Economics QRT 2

What are tariffs?

• Profit.

• Taxes on imports or exports.

• A progressive tax.

Why do nations have trade barriers?

• In an effort to increase imports.

• In an effort to reduce the demand for foreign goods or imports.

• In effort to reduce demand for domestic goods or exports.

Why has the U.S. government increased its spending significantly over the years?

• The population has decreased.

• The number of government programs has increased and more people are using government services.

• There has been a decrease in government programs and services.

The type of tax where the higher income you earn, the higher percentage you pay in taxes is called?

• Descending tax.

• Regressive tax.

• Progressive tax.

What is the goal of monetary policy?

• Create a national deficit.

• Stabilize the economy.

• Increase consumer credit.

What would be a reason for buying stock in a company?

• To lose money.

• As an investment and to make a profit.

• To obtain a job.

What was the purpose of labor unions, when they were first established?

• To improve the poor working conditions in factories.

• To lower wages of workers.

• To lower production and decrease job turnover.

What strategy (ies) might labor unions utilize in an effort to obtain an agreement with an employer?

• Have workers quit and find new jobs.

• Strikes and boycotts.

• Withhold money from the employer.

Consumers' demand for a particular good creates a demand for labor and other resources. This is know as

• Motivation

• Intrinsic Rewards

• Derived Demand

There is direct relationship between a worker's education and his or her:

• Sadness

• Number of friendships.

• Income level.