This headline describes a case involving —

One goal of the Federal Reserve System is to —

Which is the best action the government can take to increase the amount of funds

available for businesses?

The federal government's overall approach to spending and taxes is called

"The Fed refers to the Federal Reserve System, which is the Central Bank of the United States. The FOMC is the Federal Open Market Committee, the group responsible for implementing ____________."

"In February, lawmakers set themselves up to reach a more permanent spending agreement by the end of March. Congress agreed to increases to domestic and defense spending over the next two years, raising funding for domestic programs by $128 billion and hiking defense budgets by $160 billion. But they didn’t actually decide where the money would go."

____ is the main source of revenue for the Government.

A rise in the cost of goods and services is called...

IRS stands for

Which of the following are responsible for making fiscal policy decisions? 

________ uses tax revenue from individuals and businesses to provide public goods and services.

Sales tax is added to the things you

Federal Contribution Insurance Act (FICA) requires that taxes be withheld from your paycheck and sent to the government. These are used for (Two answers are to be selected)

The North Carolina legislature voted to place a $0.25 tax on each gallon of gasoline to pay for new roads. What kind of tax is this?

The United States puts an import tax on cars from Germany that are sold in the United States. What kind of tax is this?

What types of taxes contribute to Federal tax revenue? (more than one)

This is the yearly plan for how the US Government will spend the money it takes from taxes and borrowing

When a government is spending more money than its revenues:

Interest on debt is...

The Budget Control Act requires that the Federal budget be proposed by

The federal budget is created by

What are some ways the government influences the economy (Hint 3 are correct)

In addition to monitoring banking & economic conditions, what are some of the functions of the Federal Reserve System?

The FED increases/decreases the nation’s money supply in order to meet the 3 main government economic goals. These goals are

The Fed uses tight money policy tools in the _______ and _______ phases of the business cycle.

Which of the following actions by the FED is most likely to increase the money supply?

How is the Chairman of the Federal Reserve Board of Governors selected for the job?

Coins and paper bills make up the _____ of the United States.

_____ serve as the bank for banks, by lending them money at the discount rate, which is set by the FOMC.

A _____ is a 12 month period chosen for accounting.

_____ spending is spending required by laws outside the budget process.

_____ spending is based on choices made and approved each year.

In a _____ budget, revenues and expenses are equal.

In a budget _____, expenses are higher than revenues.

In a budget _____, revenues are higher than expenses.

Budget deficits cause the government to borrow money, which adds to the "national _____."

Which number is closest to the current "national debt?"

What is the largest expense for the state of North Carolina's budget?

Who is the current Chairman of the Board of Governors?

Which government agency investigates crimes involving counterfeit money?