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Economics Part 2 Study Guide (SHM-2015-2016) Flashcards | StudBud
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Economics Part 2 Study Guide (SHM-2015-2016)
Economics Part 2 Study Guide (SHM-2015-2016)
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Questions
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Answers
1
What is the relationship between education level and income?
Higher education= Higher Income
Lower Education= Higher Income
Higher Education = Lower Income
Higher Education= McDonalds
2
Which is not a current and valid form of currency?
Coins
Coupons
All of the above
Checks
3
What government agency acts as the nation's central bank?
Capital One
Federal Reserve
Bank of America
Citi Bank
4
What are some ways to try to identify some career opportunities?
Randomly go to places for a job
Eat at Chipotle
Eat at McDonalds
Identify talents and interests
5
What agency protects the environment?
FCC
FED
FTC
EPA
6
What are the name of laws used to discourage monopolies?
Entrepreneurship
Antitrust
Trade
Reserve
7
What government agency regulates trade?
EPA
FCC
FTC
FED
8
What is one way that the government can help to stimulate the economy?
Hide fees
Lower Interest Rates
Raise taxes
Raise prices
9
What is the general relationship between level of education and income
Lower education leads to higher income
There is no relationship
Higher education leads to lower income
Higher education leads to higher incom
10
Public health and safety are protected by what?
Local restuarants
School Rules
Government guidelines
Federal Reserve
11
Why do people accept coins and currency in exchange for goods and services?
They have confidence in the government
They think it looks cool
They want to get rich
They don't know another way
12
How is the right to private property ownership protected?
Betting for property
The 13th Amendment
The 19th Amendment
Negotiated Contracts enforced by law
13
What duties does the U.S. Federal Reserve have?
manage money supply to keep inflation low and stable
Maintain the value of currency
regulate banks to ensure the safety of deposits
All of the Above
14
How does the government pay for goods and services?
Tax revenue
Money from the FED
Other country's money
Stocks
15
How does government pay for public goods and services?
Tax revenue
All of the Above
Borrow Funds
Fees
16
What does APR stand for?
American Popular Rates
Academic Power Race
Annual Percentage Rate
Annual Progress Run
17
What are some types of money used in the United States?
Deposits in bank accounts
Federal Reserve Notes
Coins
All of the Above
18
Which Amendment authorizes Congress to tax personal and business incomes?
14th
15th
16th
17th
