Unit 7 Review

Question 1

When does the fiscal year begin?

Accepted Answer

October 1

Question 2

This espoused Adam Smith's ideas regarding little government intervention in the economy

Accepted Answer

Wealth of Nations

Question 3

These ban mandatory union membership

Accepted Answer

Right to Work Laws

Question 4

In this economic theory there is a redistribution of wealth

Accepted Answer

Socialist

Question 5

This is a tax you pay on stock market profits

Accepted Answer

Capital Gains

Question 6

In this type of economy the government answers all the key economic questions

Accepted Answer

Command

Question 7

Education, Environment, Military & Transportation are what type of spending?

Accepted Answer

Discretionary

Question 8

In this type of economy the key economic questions are answered on the societies needs.

Accepted Answer

Traditional

Question 9

Which of these tools can be used by a labor union?

Accepted Answer

Media Use

Question 10

This is a tax on goods and services like gas

Accepted Answer

Excise

Question 11

What regulates a capitalist economy?

Accepted Answer

Competition

Question 12

In this economic theory there would be no government intervention

Accepted Answer

Capitalist

Question 13

The tax you pay at the grocery store would be considered...

Accepted Answer

Indirect Tax

Question 14

Which of the folowing is a tool used by the employer?

Accepted Answer

Lockout

Question 15

This is the author of The Jungle

Accepted Answer

Upton Sinclair

Question 16

What type of economy is the US regarded as?

Accepted Answer

Mixed

Question 17

What Motivates in a capitalist economy

Accepted Answer

Profit

Questions 17