wayground logo

Free Printable Worksheets

Font size

S
M
L
XL
Worksheets

Macroeconomics Test 2022

Total questions: 142

Worksheet time: 4hrs 28mins

Name
Class
Date
1.
This type of business is owned by one person.
a)
Partnership
b)
Sole Proprietorship
c)
Corporation
d)
Franchise
2.

The most common form of business organization in the United States is:

a)

Limited Partnership

b)

Sole Proprietorship

c)

Corporation

d)

General Partnership

3.

Which of the following is an advantage of sole proprietorship?

a)

There are almost no requirements to start up a sole proprietorship.

b)

The owner keeps all the profits.

c)

The owner makes all the decisions.

d)

All of the above statements are true.

4.

Which of the following is a disadvantage of sole proprietorship?

a)

They're hard to start up

b)

Personal property is protected under bankruptcy

c)

The owner takes all the risk and responsibility

d)

The owner doesn't get to keep all the profits

5.

Which of the following is a disadvantage of sole proprietorship?

a)

The owner has unlimited liability

b)

The owner has to share business decisions

c)

The owners are protected from all the risk and responsibility

d)

The owners doesn't get to keep all the profits

6.

Limited life applies to ______ .

a)

corporations

b)

sole proprietorships

c)

nonprofit organizations

d)

multinationals

7.

benefit received by employees in addition to wages and salaries. Includes paid vacations, sick leave, retirement, insurance

a)

cooperative

b)

Business organization

c)

Unlimited liability

d)

Fringe Benefits

e)

Corporation

8.

requirement that an owner is personally and fully responsible for all losses and debts of a business; applies to proprietorships, general partnerships

a)

cooperative

b)

Business organization

c)

Unlimited liability

d)

Fringe Benefits

e)

Corporation

9.
A partnership in which all partners assume full personal liability for debts of the firm
a)
limited partnership
b)
trading partnership
c)
non-trading partnership
d)
general partnership
10.
Partners who are only responsible up to the extent of their investment
a)
limited partnership
b)
trading partnership
c)
non-trading partnership
d)
special partnership
11.
How is a general partnership organized?
a)
Every partner shares equally in both responsibility and liability
b)
The doctors, lawyers, or accountants who form a general partnership hire others to run the partnership
c)
No partner is responsible for the debts of the partnership beyond his or her investment
d)
Only one partner is responsible for the debts of the partnership
12.
What is a major advantage of a business that is a partnership rather than a sole proprietorship?
a)
The responsibility for the business is shared
b)
The business is easy to set up
c)
The partners are not responsible for business debts
d)
The business is easy to sell
13.
What is a disadvantage of partnerships?
a)
ease of formation
b)
owners share responsibilities
c)
limited liability
d)
possibility of personality conflict
14.

Characteristics include owned by two or more people and may be general or limited

a)

Sole Propriotorship

b)

Partnership

c)

Corporation

d)

Franchise

15.
Which of the following is a disadvantage of corporations:
a)
High taxes
b)
Unlimited life
c)
Unlimited liability
d)
financial power
16.
Which of the following is an advantage of the corporation as a form of business ownership:
a)
Less complex requirements
b)
Separate owners and managers
c)
Limited liability
d)
High Taxes
17.
The owners of a corporation are called
a)
Directors
b)
Partners
c)
Shareholders
d)
Founders
18.

Which of the following might upset the board of directors in a corporation?

a)

If the company's stocks are bought on an exchange

b)

if the company's stocks are sold on an exchange

c)

if the company's stocks increase in value

d)

if the company's stocks lose value

19.

Suppose a firm that makes appliances merges with a company that makes clothes, and later it buys a slaughter house. What is this combination called?

a)

franchise

b)

horizontal merger

c)

conglomerate

d)

cooperative

20.

Some businesses are not organized to maximize profits. Instead their goals are to work for the good of all their members or to work for the good of society. This describes

a)

franchises and multinationals

b)

cooperatives and nonprofits

c)

general and limited partnerships

d)

horizontal and vertical mergers

21.

The board of directors of a corporation is responsible for

a)

running the company's day-to-day operations

b)

hiring officers / executives to run the business

c)

determining the price of the company's shares

d)

paying dividends to shareholders

22.
Two local business owners want to reduce competition, so they decide to form one organization from the two companies. This is an example of a
a)
monopoly.
b)
hostile takeover.
c)
merger.
d)
trading bloc.
23.
How is a corporation different from a sole proprietorship?
a)
Corporations are owned by only one person
b)
Corporations can sell stock to raise money for the business. 
c)
Sole proprietorships have limited liability for the owners.
d)
Sole proprietorships require a legal charter to start the business.
24.
Why would a company need to issue stock?  
a)
To increase its' customer base.
b)
To raise money.
c)
To stop the government from regulating it.
d)
To show customers that it's successful.
25.

A __________ takes place when firms involved in different steps of manufacturing or marketing come together.

a)

horizontal merger

b)

diagonal merger

c)

circular merger

d)

vertical merger

26.

Which of the following is an example of a vertical merger?

a)

A shirt factory acquires a button manufacturer.

b)

A computer maker acquires a publisher.

c)

A Chinese company acquires a U.S. company.

d)

A bread bakery acquires a cookie company.

27.

Which of the following is a corporation that issues stock that can be freely bought and sold?

a)

multinational corporation

b)

nonprofit corporation

c)

private corporation

d)

public corporation

28.

What is the name for an individual who owns a share of a corporation and is entitled to part of its profits?

a)

stockholder

b)

president

c)

officer

d)

director

29.

Collective bargaining is the

a)

practice used by employers to hire groups of laborers.

b)

practice used by employers to get the cheapest labor possible.

c)

idea that laborers working in groups are more productive in the workplace.

d)

idea that laborers acting together have greater success in negotiating with management.

30.

Which of the following best describes the concept of unlimited liability?

a)

The shareholders are responsible for repaying the business debts.

b)

Personal assets of the business owner(s) can be used to repay the business debts.

c)

Portions of a company's profit paid to shareholders.

d)

The business owner(s) is/are not responsible for paying the business debts.

31.

A corporation that operates in many different countries or nations

a)

Major

b)

Transcontinental

c)

Multinational

d)

Massive

32.

A form of business where you rent or lease the name, business profile, and way of doing business from the owner

a)

PARTNERSHIP

b)

CORPORATION

c)

SOLE PROPRIETORSHIP

d)

FRANCHISE

33.

__________________ are senior executives who have been elected by the company's shareholders to direct business operations on behalf of their owners.

a)

Managers

b)

Directors

c)

Employees

d)

Supervisors

34.
A partnership agreement:
a)
Helps prevent disagreements
b)
Encourages disagreements
c)
Is a waste of time
d)
None of the above
35.

This business venture is an agreement between two or more groups to form a business entity in order to achieve a specific goal or to operate for a specific period of time.

a)

joint venture

b)

limited liability company (LLC)

c)

S-Corporation

d)

syndicate

36.

How are closely held and publicly held corporations different

a)

Only publicly held corporations issue stock

b)

Only closely held corporations trade stock on the NY stock exchange

c)

Anyone can buy publicly held corporation stock but not closely held stock

37.

The fees a franchisee must pay to a parent company to sell their product

a)

Royalties

b)

Cooperative

c)

Glass Ceiling

d)

Barrier to Entry

38.

An organization that exists to create a better society and fix societal ills

a)

Nonprofit

b)

Mediation

c)

Royalties

d)

Liability

39.

An organization that seeks to improve working conditions and pay

a)

Labor Union

b)

Collective Bargaining

c)

Cooperative

d)

Business Franchise

40.

When a third party hears arguments from two competing parties and renders a decision to be followed by the two parties

a)

Arbitration

b)

Mediation

c)

Cooperative

d)

Collective Bargaining

41.

When a neutral party works with two opposing parties to sort out their differences

a)

Mediation

b)

Collective Bargaining

c)

Outsourcing

d)

Arbitration

42.

The lowest legal wage allowed for one hour of work.

a)

wage floor

b)

wage ceiling

c)

glass ceiling

d)

minimum wage

43.

Samuel Gompers founded an organization that focused on the interests of ________.

a)

temporary workers

b)

unskilled workers

c)

skilled workers

d)

contract workers

44.

Typically, the demand is high but the supply is low for

a)

professional workers.

b)

semi-skilled workers.

c)

temporary workers.

d)

unskilled workers.

45.
_______ is when workers refuse to work in order to force an employer to meet their demands.
a)
labor unions
b)
party
c)
strike
d)
sweatshop
46.

how will labour unions affect an employee?

a)

They negotiate the working conditions and wages received.

b)

Support restrictions on imported goods through quotas and tariffs.

c)

The prices of products raise to a higher amount.

d)

They don't affect an employee.

47.

how will labour unions affect an employer?

a)

The high-skilled workers are more likely to be represented by a union.

b)

Products cost more than usual.

c)

They have to pay more for low-skilled employees.

d)

They don't affect them at all.

48.

How would strike positively affect workers?

a)

It would "force" employers to accept a "reasonable" proposition by employees.

b)

It would allow them to get back their old position without a decrease in a positive employee and employer relationship bond.

c)

Both parties lose money because of delayed service and loss of production time.

49.

work that requires minimal specialized skill and training

a)

derived demand

b)

productivity of labor

c)

equilibrium wage

d)

unskilled labor

e)

semi-skilled labor

50.

work that requires advance skills and education

a)

featherbedding

b)

labor union

c)

glass ceiling

d)

professional labor

e)

skilled labor

51.

work that requires specialized skills and training

a)

featherbedding

b)

labor union

c)

glass ceiling

d)

professional labor

e)

skilled labor

52.

work that requires no specialized skills education or training

a)

derived demand

b)

productivity of labor

c)

equilibrium wage

d)

unskilled labor

e)

semi-skilled labor

53.
Samuel Gompers was the leader
a)
National Labor Union
b)
Knights of Labor
c)
American Federation of Labor
d)
American Railway Union
54.
The labor union that only accepted skilled workers who were difficult to replace during strikes.
a)
Knights of Labor
b)
American Federation of Labor
c)
World Wide Federation of Labor
d)
Nights and Days of Labor
55.
What was the first permanent labor union; it used strikes as a tactic?
a)
American Federation of Labor
b)
Labor Goals
c)
International Workers of the World
d)
Knights of Columbus
56.

Wages are governed by what two primary forces:

a)

Government and Economy

b)

Workers and Employers

c)

Supply and Demand

d)

Corona and Virus

57.

Which of the following is NOT a Phase?

a)

Expansion

b)

Contraction

c)

Neutral

d)

Peak

e)

Trough

58.

The Business Cycle measures ___ over time.

a)

wealth

b)

inflation

c)

economic growth

59.

The business cycle is made up of how many phases?

a)

5

b)

4

c)

3

d)

2

60.

Which option presents the business cycle in the correct order

a)

trough, contraction, peak, recovery

b)

trough, expansion, peak, contraction

c)

peak, expansion, trough, recovery

d)

peak, contraction, recovery, trough

61.

If a news headline says, "Finally!!! 2 straight months of increased jobs."

Where on the business cycle is the current economy?

a)

Peak

b)

Contraction/Recession

c)

Trough

d)

Expansion/Growth/Recovery

62.

If a news headline says, "6 straight years of growth! How much longer can the economy keep up?"

Where on the business cycle is the current economy?

a)

Peak

b)

Contraction/Recession

c)

Trough

d)

Expansion/Growth/Recovery

63.

If a news headline says, "3 months of consecutive job losses is impacting consumer confidence."

Where on the business cycle is the current economy?

a)

Peak

b)

Contraction/Recession

c)

Trough

d)

Expansion/Growth/Recovery

64.
What is happening to the economy in a period of economic contraction?
a)
GDP is rising and unemployment is falling.
b)
GDP is rising and unemployment is rising.
c)
GDP is falling and unemployment is rising.
d)
GDP is falling and unemployment is falling.
65.
The period between the peak and the trough is the _____; the period between the trough and the peak is the _____.
a)
recession; expansion
b)
expansion; recession
c)
peak; trough
d)
trough; peak
66.

What are the three economic goals every society seeks to accomplish?

a)

full employment, stable prices, economic growth

b)

6% inflation, 10% unemployment, slow economic growth

c)

Everyone employed, control inflation, flat economic growth

d)

Promote economic growth, full unemployment, limit inflation

67.

a gradual, steady increase in prices combined with unemployment and low consumer demand

a)

stagflation

b)

influence

c)

inflation

d)

consumer price index

68.

a gradual, steady increase in the prices of goods and services

a)

stagflation

b)

influence

c)

inflation

d)

consumer price index

69.

In a recession, uncertainty about employment can deter spending. Which of the following is a synonym for “deter?”

a)

Discourage

b)

Enable

c)

Facilitate

d)

Permit

70.

Where does the largest share of federal tax revenue come from?

a)

Corporate taxes

b)

General sales taxes

c)

Individual income taxes

d)

Property taxes

71.

Which of the following do homeowners pay based on the value of the residence?

a)

Corporate taxes

b)

General sales taxes

c)

Individual income taxes

d)

Property taxes

72.

A tax rate is applied to an income range, or

a)

Progressive Taxes

b)

Tax Bracket

c)

Other Taxes

d)

Tax Credit

73.

Takes a smaller share of one's income as the amount of income grows is

a)

Progressive Taxes

b)

Revenue

c)

Regressive Taxes

d)

Evasion

74.

Takes a larger share of one's income as the amount of income grows is

a)

Proportional Taxes

b)

Progressive Taxes

c)

Tax Evasion

d)

Tax

75.

The terms proportional, regressive, and progressive refer to _____

a)

principles of taxation

b)

criteria for effective taxes

c)

types of taxes

d)

benefit principle

76.

The FICA deduction taken from your paycheck is

a)

Social Security and Medicare

b)

Medicare and sales tax

c)

Medicare and tax loopholes

d)

sales tax and flat tax

77.

Oversees the entire banking system, 7 members appointed by the president and approved by the Senate; serve 14 year terms

a)

Board of Governors

b)

open market committee

c)

Federal Reserve

d)

FDIC

78.

Who appoints members of the Fed's Board of governors?

a)

the President

b)

House of Representatives

c)

Senate

d)

Chair of the Board of Governors

79.

When people pay the same percentage regardless of income it is

a)

a progressive tax

b)

a proportional tax

c)

a regressive tax

80.
Billy gets charged tax every time he buys a new pair of shoes.  What kind of tax is this?
a)
Income
b)
Property
c)
Payroll
d)
Sales
81.
The county charges the Henry family a tax on the value of the house they own.  What kind of tax is this?
a)
Income
b)
Property
c)
Payroll
d)
Sales
82.
Sales Tax is-
a)
Tax on things you buy or purchase
b)
tax on the house you own
c)
tax take out of your paycheck
d)
tax that you pay once a year on your income
83.
The federal government levies a tax on personal income to provide for 
a)
national defense and law enforcement
b)
veterans and foreign affairs
c)
social programs like food and housing assistance and college grants
d)
All answers shown
84.

Taking payments out of your pay before you receive it.

a)

withholding

b)

tax return

c)

taxable income

d)

personal exemption

85.

Tax on the estate, or total value of money and property of a person who has died. Includes money, real estate, cares, furniture, investments, jewelry, paintings and insurance

a)

sales tax

b)

property tax

c)

estate tax

d)

gift tax

86.

Form used to file income taxes.

a)

withholding

b)

tax return

c)

taxable income

d)

tax credit

87.

Tax on money or property that one living person gives to another.

a)

estate tax

b)

gift tax

c)

property tax

d)

income tax

88.

Tax on IMPORTED goods

a)

tax incentive

b)

estate tax

c)

sales tax

d)

tariff

89.
Most of the discretionary spending of the federal government is spent on:
a)
Education
b)
Healthcare
c)
Military
d)
Space Exploration
90.

In this tax structure a single tax rate (percentage) is applied to all levels of income. Some states use this as structure for State Income tax, and our FICA taxes are collected in this way.

a)

Progressive Tax

b)

Regressive Tax

c)

Proportional or Flat Tax

d)

Excise Tax

91.

In the US, Taxes are levied (imposed & collected) by

a)

Businesses

b)

Parents

c)

Foreign countries

d)

Government

92.

What are the four

characteristics of a “good tax?”

a)

Small, Funds Education, Easily Paid, Fun

b)

Estate, Income, Corporate, Proportional

c)

Withholding, Gift, Federal, State

d)

Simplicity, Efficiency, Certainty, Equity

93.

A tax on the sale or production of a domestic good is called a(n)…

a)

Estate Tax

b)

Import Tax

c)

"Sin" Tax

d)

Excise Tax

94.
The primary purpose of taxes is to
a)
provide goods and services that are too expensive for people to buy
b)
provide services that improve our quality of life
c)
take money from one group and give it to another
d)
allow people to have free goods and services
95.
The division of the United States Treasury that is charged with the responsibility of maintaining confidence in and managing the federal tax system is called the
a)
Department of Justice
b)
President
c)
Internal Revenue Service
d)
Congress
96.
The gasoline tax is an example of the _____ principle.
a)
benefit received
b)
progressive tax
c)
free rider
d)
ability to pay
97.
The overall goal of tax policy in the United States is to ensure that taxes are
a)
low
b)
illegal
c)
equal
d)
fair
98.
The federal income tax has different tax bracket percentages and income levels for single individual. As a result of this practice,
a)
the federal income tax is based on the benefits-received theory of taxation
b)
you pay different percentages of taxes as your income increases
c)
all of your income is taxed at the highest percentage rate
d)
the federal income tax is a regressive tax
99.
The ability to pay tax principle says that
a)
people who can afford to pay taxes should pay more than those with limited ability to pay
b)
people who use certain public goods and services should pay for them with taxes
c)
the proportion of income paid in taxes decreases as income decreases
d)
the proportion of income paid in taxes increases as income increases
100.

October 1st -- September 30

a)

Fiscal Year

b)

Physical Year

c)

Tax Return

d)

Appropriations Bills

101.

Programs to help the needy so long as they meeting eligibility standards

a)

Entitlements

b)

Appropriations

c)

Deductions

d)

Surplus

102.

Which of the following NOT considered mandatory spending?

a)

medicare

b)

national parks

c)

Assistance for low-income families

d)

social security

103.

When a government it spending more money than it is making, it is operating in a...

a)

deficit

b)

surplus

c)

IOU

d)

interest

104.
"The Fed" refers to the....
a)
Federal Bureau of Investigation
b)
Federal Government
c)
Federal Reserve System
d)
Federal Income Tax
105.
The Federal Reserve System was established in
a)
1799
b)
1913
c)
1863
d)
1881
106.

When are taxes (generally) due?

a)

April 15th

b)

February 11th

c)

January 25th

d)

April 1st

107.

Your employer withholds part of your income and sends it to the government to pay your taxes

a)

Pay-As-You-Earn

b)

Taxable Income

c)

Gift

d)

Excise

108.

When the government uses revenue and spending to manipulate the economy

a)

Fiscal Policy

b)

Monetary Policy

c)

Fiscal Year

d)

Tax Exempt

109.
The primary role of the Federal Reserve Bank is to steer the economy by
a)
controlling the budget
b)
setting spending levels.
c)
controlling the money supply.
d)
loaning out money.
110.
If the economy is expanding too quickly, the Federal Reserve will institute which type of monetary policy?
a)
Expansionary
b)
Contractionary
c)
Equanimitous
d)
Whole Dollar
111.

If the Fed wanted to contract or tighten the economy to help fight inflation, they might

a)

Increase reserves to limit what banks can loan out

b)

Lower the interest rate

c)

Decrease reserves allowing banks to loan more

d)

Decrease government spending

112.

What led to the creation of the Federal Reserve System?

a)

The stock market crash in 1929

b)

The establishment of the Department of Treasury

c)

A series of bank panics and failures in the early 1900s

d)

The great recession of 2008

113.

Fiscal Policy is controlled by...

a)

The Government

b)

The Federal Reserve System

c)

The states

d)

The Department of Commerce

114.
Taxing & spending to help the economy grow is referred to as
a)
expansionary policy
b)
monetary policy
c)
contractionary policy
d)
budget deficit
115.
If the unemployment rate is rising and GDP is falling, the fiscal policy action that the federal government should MOST likely follow is 
a)
decreasing taxes.
b)
decreasing spending.
c)
decreasing the money supply.
d)
decreasing the reserve requirement.
116.
An example of expansionary fiscal policy would be
a)
cutting taxes.
b)
cutting government spending.
c)
cutting production of consumer goods.
d)
cutting prices of consumer goods.
117.
If and economy experiences a dramatic rise in prices, which fiscal policy action could be taken?
a)
Selling securities on the open market
b)
Raising interest rates
c)
Reducing government spending
d)
Raising reserve requirements
118.
The Federal government is concerned that economic growth is too high, that it is unsustainable, and that inflation is resulting. Which of the following fiscal policies  might be enacted to reduce inflation?
a)
Increasing taxation
b)
Open market sales
c)
decreasing taxation
d)
Increasing government spending
119.
When the government raises taxes, what does it take out of circulation?
a)
Money
b)
Credit
c)
People
d)
Jobs
120.

Which of the following statements is true?

a)

Contractionary monetary policy would increase government revenue & slow down the economy.

b)

Contractionary fiscal policy would decrease the reserve requirement & slow down the economy.

c)

Contractionary fiscal policy would lead to an increase in the national debt.

d)

Contractionary monetary never works

121.

Monetary Policy is the Federal Reserve Systems attempt to...

a)

control the amount of money in circulation

b)

control the Federal Government's debt

c)

control state governments' spending

d)

none of these answers are correct.

122.

Who is in charge of Monetary Policy

a)

The Government

b)

The Federal Reserve System

c)

The states

d)

The Department of the Treasury

123.
Which part of the Fed decides when to raise or lower interest rates?
a)
Board of Governors
b)
Advisory Committee
c)
Chairman
d)
Federal Open Market Committee
124.
The Fed ______________ banks to ensure the soundness of the banking system.
a)
regulates
b)
closes
c)
opens
d)
runs
125.

The Federal Reserve

a)

is made up of 12 district banks.

b)

is managed by a 10-member board of directors.

c)

is made up of district banks that operate independently from one another.

126.

_____ carry out Fed policy and oversee banking within its district.

a)

Financial Institutions

b)

Federal Reserve System

c)

District banks

127.

What does FOMC stand for?

a)

Federal Open Money Committee

b)

Federal Operational Money Corporation

c)

Federal Open Market Committee

d)

Federal Operational Market Corporation

128.

How many Federal Reserve Districts are there?

a)

5

b)

7

c)

10

d)

12

129.

Who does the FOMC consist of?

a)

7 Fed District Presidents and 5 Board of Governors

b)

12 Board of Governors

c)

7 Board of Governors and 5 Fed District Presidents

d)

12 Fed District Presidents

130.

The annual statement of outlays, tax revenues, and surplus and/or deficit of the United States government is called the _____.

a)

federal spending

b)

US deficit record

c)

federal budget

d)

federal spending plan

131.

Suppose the government increases the amount of money it spends. This is an example of which of these?

a)

using fiscal policy to decrease inflation

b)

using fiscal policy to stimulate the economy

c)

using monetary policy to stimulate the economy

d)

using monetary policy to slow down the economy

132.

A yard and lawn landscaper requires enough mechanical skill or training to run a lawn mower. This type of job falls under the category of...

a)

unskilled labor

b)

semi-skilled labor

c)

skilled labor

d)

professional labor

133.

A computer programmer writing software has the highest levels of education. This type of job falls under the category of...

a)

unskilled labor

b)

semi-skilled labor

c)

skilled labor

d)

professional labor

134.

A carpenter is able to operate complex machinery and can perform their job with little supervision. This type of job falls under the category of...

a)

unskilled labor

b)

semi-skilled labor

c)

skilled labor

d)

professional labor

135.

When the economy experiences an expansion, it is most likely the case that

a)

GDP is increasing, unemployment is increasing, and inflation is decreasing

b)

GDP is decreasing, unemployment is decreasing, and inflation is increasing.

c)

GDP is increasing, unemployment is decreasing, and inflation is increasing

d)

GDP is decreasing, unemployment is decreasing, and inflation is decreasing.

136.

During recessions all of the following usually happen EXCEPT

a)

inflation decreases

b)

unemployment increases

c)

GDP decreases

d)

GDP increases

137.
Which of the following statements is true regarding joint ventures:
a)
Joint-venture arrangements are usually short-term relationships.
b)
Joint ventures are used only when it is necessary to raise a lot of capital.
c)
Large corporations are the only business structures that can benefit from joint ventures.
d)
An independent attorney must always be consulted before signing a joint-venture agreement.
138.

GDP is an important economic measurement because it

a)

provides valuable data on unemployment rates.

b)

provides valuable data on inflation rates.

c)

measures the value of final goods and services produced by a country.

d)

measures only the exports of a country

139.

What term is used to describe the percent of the labor force that does not have a job but is currently looking for one?

a)

Leading economic indicator

b)

Full employment

c)

Unemployment rate

d)

workforce

140.

Which would most likely occur during a period of recession?

a)

Real gross domestic output falls

b)

Unemployment rate falls

c)

Production increase

d)

Personal income increases

141.
FICA taxes are
a)
U.S. federal payroll taxes imposed on both employees and employers to fund Social Security and Medicare
b)
U.S. federal payroll taxes imposed on employees only to fund Social Security and Medicare.
c)
U.S. federal payroll taxes imposed on both employees and employers to fund Social Security.
d)
U.S. federal payroll taxes imposed on employers only to fund Social Security and Medicare
142.
The amount of money subtracted from the gross income for taxes. Typically about 30% of your paycheck
a)
social security
b)
medicare
c)
payroll withholdings
d)
income tax withholdings

Similar Resources on Wayground

World History Midterm Review (Lessons 4-10)

146 questions

World History Midterm Review (Lessons 4-10)

quiz

Worksheet

•

10th Grade

CoGo Mega Review

145 questions

CoGo Mega Review

quiz

Worksheet

•

10th - 12th Grade

MID TERM MCQS PAKISTAN STUDIES

139 questions

MID TERM MCQS PAKISTAN STUDIES

quiz

Worksheet

•

10th Grade

Midterm Review

138 questions

Midterm Review

quiz

Worksheet

•

10th Grade

Jr. Beta Social Studies

145 questions

Jr. Beta Social Studies

quiz

Worksheet

•

7th - 10th Grade

World History Final Exam Fall

140 questions

World History Final Exam Fall

quiz

Worksheet

•

9th - 10th Grade

7.5 Part B-Rule of French Monarchy pg 267

146 questions

7.5 Part B-Rule of French Monarchy pg 267

quiz

Worksheet

•

9th - 12th Grade

7.5 period 7

146 questions

7.5 period 7

quiz

Worksheet

•

9th - 12th Grade