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Ohio/Econ Test Readiness Assessment

Authored by Aimee Wilson

Social Studies

9th - 12th Grade

Used 3+ times

Ohio/Econ Test Readiness Assessment
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21 questions

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1.

MATCH QUESTION

1 min • 5 pts

VOCAB: Match the term to its definition.

Loan to gov paid back with interest

Reserve Requirement

Amount of Money banks keep on hand

Discount Rate

Social Security, Medicare, Medicaid

Deficit

Spending more money than you make

Entitlements

Fee paid on loans (Interest)

Securities/Bonds

2.

MATCH QUESTION

1 min • 5 pts

VOCAB: Match the term to its definition.

Money spent on gov programs

Government Spending

tax on imports and exports

Taxes

Income, sales and other fees paid to gov

Tariffs

More money you make the more you pay

Regressive Tax

Flat tax-affects poor people more

Progressive Tax

3.

MATCH QUESTION

1 min • 5 pts

VOCAB: Match the term to its definition.

prices increase over time

Recession

All gov $ except entitlements

Mandatory Spending

Entitlements (SS, Medicare/Medicaid)

Inflation

Economy in decline for 6+months

Discretionary Spending

Control where money goes in gov

Appropriate (gov definition)

4.

MATCH QUESTION

1 min • 5 pts

VOCAB: Match the term to its definition.

The amount of money in the economy

Expansionary policy

Controlling taxes and spending

Fiscal Policy

Slow down the economy

Contractionary Policy: trying to

Speeding up the economy

Balanced Budget

Spending = revenue ($ coming in)

Monetary Policy: Controlling...

5.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Econ Concept: To slow down the economy, the Fed SHOULD: ​ ​

Raise "Discount" interest rates
Raise the reserve requirements
Lower "Discount" interest rates
Lower reserve requirements

6.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Econ Concept: To slow down the economy, the Fed SHOULD: ​ ​

Raise Discount" interest rates
Lower the reserve requirements
Lower "Discount" interest rates
Raise reserve requirements

7.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Econ Concept: To slow down the economy, the Government SHOULD: ​ ​

Raise Discount" interest rates
Lower Government Spending
Raise Taxes
Raise reserve requirements
Raise government spending

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