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Economics
Benchmark II Study Guide
glass ceiling
macroeconomics
tax loophole
regressive tax
progressive tax
regressive tax
fiat money
commodity money
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6.
7.
skilled labor
unskilled labor
medicare
bull market
bear market
tax return
401 K
IRA
inflation
deflation
consumer price index
collective bargaining
subsidy
ration
strike
collective bargaining
What three major federal taxes bring in most revenue?
Who determines interest rates?
What does the Federal Reserve “Fed” do?
How can the Federal Reserve stimulate investments?
What was established to bring credibility and protect savings in the bank?
What is the difference between mutual funds and stocks?
What is the difference between discretionary and mandatory spending? Give
examples of each spending.
8. Why is the U.S. not on the Gold standard any more?
9. What four characteristics must money possess to have value?
10. Who are the largest borrowers?
11. Explain reserve requirement
12. What two broad expenditures does the federal government have?
13. What are transfer payments? Give examples.
14. What three criteria are needed to be an effective tax?
15. What are monetary incentives? Give examples.
16. What is the government dong when they spend more money than their annual
revenue?
17. What is the largest category of state spending?
18. What unemployment rate shows a healthy economy?
19. What are the three functions of money?
20. What type of monetary standard is the U.S. currently under?