Economics Exam 4 Review

After intergovernmental revenue, the largest source of revenue for local governments is

States receive most of their intergovernmental revenue funds from

The terms proportional, progressive, and regressive refer to

An effective tax is one that exhibits one or more of the following characteristics.

The characteristics of money include all of the following except

When the general level of prices rises, the economy is experiencing ______.

In the early 1800s, currency in the United States was issued by

For which of these is demand MOST expected to decline by 2050?

Which economic sector is NOT determined by measuring specific sources of income?

A call option lets investors cancel a contract to _______ commodities, whereas a put option lets them _____.

Most successful investors invest __________.

The risk of ending up with the equivalent of a never-ending loan is one of the disadvantages of using

A trend line is ______________.

The monthly or quaterly fee for an insurance policy is called the

Which is the primary source of revenue for the federal government?

A severe economic downturn results in __________.

Supply-side policies aim to _________.

Which of these groups is MOST vulnerable to poverty?

Which of the following is a DDA?

Which of the following terms describes a strong stock market?

Investment analysts recommend people to make investments in ______.

A demand-sider is most likely to support what?

Which type of tax is levied on the sale of an asset held for 12 months or longer?

Which of these describes the Census Bureau's forecast for life expectancy in the United States?

Advocates of supply-side economics argue that spending by the federal government _________.

Which is a good synonym for the word barter in the term barter economy?

Why would the sale of a secondhand car NOT be included in a calculation of GDP?

The concept of aggregate supply assumes that ________.

What does a Lorenz curve of the U.S. economy show?

Which of the following is an example of federal mandatory spending?

Which of these is one of the two biggest reasons for the nation's widening income inequality?

Which person would NOT be included in the civilian labor force?

A period of recovery from a recession is known as ______.

If all production takes place within a country's border, the aggregate supply over one year will be ______.

How do production costs affect aggregate supply?

Which type of unemployment is natural in a free market economy, where workers have the freedom to change occupations?

A money market investment is based on _______.

What conditions stop the economy from growing and turn an expansion into a contraction?

Supply-siders generally favor ________________.

Which of the following is NOT a cause of inflation?

The Federal Reserve is the nation's _____ bank.

Keynesian economic policies are designed to lower unemployment by ___________.