Economics Unit 6 Review

About what percentage did the federal government spend in 2007 for using borrowed money?

According to this passage at the time it was written (1999) the national debt was...?

Property taxes, which are calculated as a percentage of the value of a home, are an example of

According to monetarists, to prevent the Great Depression the government should have

In terms of the circular flow of income, savings represent

Who begins the budget-making process at the national level?

According to some economists, stagflation is caused by

High unemployment is usually a sign that

Temporary unemployment between jobs because of firings, layoffs, or retraining is called

Flexible exchange rates are determined by

An excise tax is a tax paid on

federal government's use of taxation and spending policies to affect overall business activity

According to the passage, what is the meaning of “Tax Freedom Day”?

theory that prices rise as the result of excessive business and consumer demand

attempts by the federal government to keep the economy healthy

Depreciation of the Japanese yen would make Japanese products sold in the United States

What type of tax does the tax table in the illustration represent?

transactions by people who dont follow federal and state laws with respect to reported earnings

The passage describes rising inflation as a possible result of

Unemployment caused by up and down fluctuations in the business cycle is called

Economists use the term "leakage" to refer to

The ability of one country, to produce a specific product at a lower cost is known as

periods between the time fiscal policy is enacted and the time it becomes effective

The ability of one country to produce a product at a lower opportunity cost than another.

Deficit financing is