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Economics Semester Test Review

Authored by Emily DeCook

Other

9th - 12th Grade

Used 3+ times

Economics Semester Test Review
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35 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The sum of all government borrowing up to that time, minus the borrowings that have been repaid. Is called what?

Debt

Surplus

Deficit

Balanced Budget

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

By lowering taxes how does some in the federal government think that will expand the economy?

Individuals will have more money to spend

Individuals will have less to spend

It will cause businesses to lay off workers

There will be less money in circulation

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

By increasing taxes how does some in the federal government think that will slow down economic growth?

Individuals will have more money to spend

Individuals will have less to spend

It will cause businesses to lay off workers

There will be less money in circulation

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does your taxable income NOT include?

Salaries

Wages

Tips

All of these

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of tax is the Federal Government’s main source of revenue?

Sales

Income

Pay-as-you-earn

Property

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary way the US government collects money?

Taxes

Bonds

Investment accounts

Banks

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

General increase in prices is called what?

Deflation

Stagflation

Poverty

Inflation

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