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Final Economics Test 2021

Total questions: 21

Worksheet time: 12mins

Name
Class
Date
1.

Cash received are inflows, and __________ spent are outflows.

a)

coins

b)

money

c)

bonds

d)

income

2.

Many of the tax benefits set up to help individuals and families will expire in

a)

2022

b)

2025

c)

2028

d)

2030

3.

TRUE OR FALSE:

The average tax cut was approximately $1,600 based on the returns the company processed in 2018.

a)

TRUE

b)

FALSE

4.

The law creates a single corporate tax rate of

a)

20%

b)

21%

c)

22%

d)

23%

5.

The Great Recession refers to the economic downturn from

a)

2003 - 2006

b)

2007 - 2009

c)

2010 - 2012

6.

TRUE OR FALSE:


Financial institutions do not vary by size, scope, and geography.

a)

TRUE

b)

FALSE

7.

This is a company engaged in the business of dealing with monetary transactions

a)

independent business

b)

financial institution

c)

credit lenders

8.

TRUE OR FALSE:


Infrastructure spending is designed to increase productivity by enabling businesses to operate more efficiently.

a)

TRUE

b)

FALSE

9.

Used to return money to consumers and boost spending

a)

tax cuts and rebates

b)

economic growth

c)

deregulation methods

10.

Conditions, Capacity, Capital, Collateral and Character all make you the 5 C's of

a)

credit

b)

profit

c)

money

11.

TRUE OR FALSE:


Every creditworthy borrower has 5 things

a)

TRUE

b)

FALSE

12.

When something occurs between a buyer and a seller

a)

advertisement

b)

transaction

c)

lender agreement

13.

The total spending divided by the total quantity equals the

a)

price

b)

profit

c)

income

14.

Money + Credit =

a)

total spending

b)

total earning

c)

total income

15.

TRUE OR FALSE:


Cash flows are the net amount of cash and cash-equivalents being transferred to and out of a business

a)

TRUE

b)

FALSE

16.

____________ relaxes the rules imposed on businesses and have been credited with creating growth

a)

deregulation

b)

infrastructure spending

17.

The Great Depression occurred in the

a)

1930's

b)

1940's

c)

1950's

18.

This Act consisted of ____________ raised overall in tax cuts/credits and unemployment benefits for families

a)

$831 billion

b)

$832 billion

c)

$833 billion

19.

The American Recovery and Reinvestment Act of 2009 (ARRA) was a fiscal stimulus bill signed by

a)

The 44th President

b)

The 45th President

c)

The 46th President

20.

Which one of the (3) main forces that drive the economy is missing?


- Productivity Growth


- Long Term Debt Cycle

(a)  

21.

BONUS QUESTION:


What is Mr. Lee's middle name? :)

(a)