AG Unit 6

What are the economic goals of the U.S.?

• Growth, stability, and full employment

• Growth, stability, and equality

• Growth, stability, and sustainability

• Growth, stability, and security

When does a budget surplus happen?

• When a country spends less than it makes.

• When a country spends more than it brings in.

• When a country spends just as much as it makes.

• When a country creates a budget.

What name is given to expenditures required by law, and make up about 70% of spending?

• Uncontrollables

• Indispensables

• Surpluses

• Budgets

Which of these is NOT an example of an Entitlement?

• Social Security

• Medicare

• Electric Vehicle production tax breaks

• VA Benefits

What is a progressive tax?

• A tax that increases as someone makes more money.

• A tax that is flat, meaning everyone pays the same rate.

• A tax that disproportionately hurts people of lower incomes.

• A tax that is only placed on people with progressive ideologies.

What are economic indicators used for?

• To measure the overall health of an economy

• To determine the national debt

• To predict future government revenue

• To regulate monetary policy

What government agency exists to promote the stability of prices, preserve the power of the dollar, and promote stable long-term interest rates?

• The Federal Reserve

• The FDA

• The National Bank

• The Federal Deposit Insurance Corporation

Which of these best describes Domestic Policy?

• Policy that impacts relations with foreign governments.

• Policy that impacts people within their own country

• Policy that impacts home sales

• Policy that impacts only one part of society

What were the purposes of the Sherman and Clayton Anti-trust Acts?

• They were created to prevent companies from dominating industries which would decrease competition.

• They allowed companies like American Steel and Standard oil to dominate their respective industries.

• They were developed to increase American economic positions on the global stage.

• They prevented foreign governments from creating companies in the United States.

How has the government regulated industry to promote the protection of consumers?

• Placed restrictions on what can and cannot be used in food production.

• Restricted the ability of companies to use lead based paint in children's toys.

• Targets sketchy business practices to prevent future recessions.

• All of these.