How do Medicare and Medicaid assist the needy?

They provide health care for the elderly and poor.

What is economic contraction "AKA" a recession

A time when Real GDP is decreasing

Which of the following does not affect the price of a stock?

Change in the name of a company

Why is Real GDP a better indicator of economic growth than GDP

GDP does not show changes in the prices of goods over time.

A country with a trade deficit has...

A higher value of imports than exports

Which of the following would cause the United States currency to increase in value.

The United States States GDP increases

studbud

Economics Unit 4

15 termsStudBud Administration407 plays

Quiz Unit 4 United States Economic Systems

Flashcards15 cardsFPractice quizPHost liveL

Questions 15

Answers

1
How do Medicare and Medicaid assist the needy?
They provide monthly checks for disabled Americans.
They provide job training for unemployed workers.
Provide a monthly low income families with stipends for food
They provide health care for the elderly and poor.
2
This welfare program is the largest expenditure in government spending.
Medicaid
TANF
Social Security
SNAP
3
What is a Bull Market
When Bulls have a market
When market prices are rising
When market prices are falling
When market prices are stable
4
Which of the following is an indicator of the healthiness of the US economy?
All of these things
Employment rate
Consumption
How much investing is occurring in US businesses
5
Bears and Bulls are found on the stock market.
True
False
6
Which of the following is not an example of an organization that keeps a check on businesses?
FICA
FTC
FDA
EPA
7
What is economic contraction "AKA" a recession
A time when Real GDP increases
A time when GDP is decreasing
A time when Real GDP is decreasing
A time when GDP increases
8
Which of the following does not affect the price of a stock?
Change in a company's leadership
Change in the name of a company
Changes in demand
Company profits
9
This tax specifically targets goods, such as gasoline, airplane tickets and alcohol....
Sales tax
Payroll tax
Customs tax
Excise tax
10
Which of the following government institutions is not involved in setting the federal budget?
President
Congress
Supreme Court
Cabinet department heads
11
Why is Real GDP a better indicator of economic growth than GDP
GDP does not show changes in the prices of goods over time.
Real GDP uses quarterly increments
Real GDP is based on reality/ GDP is rooted in fantasy.
Real GDP is measured whereas GDP is based upon predictions
12
A country with a trade deficit has...
A higher value of imports than exports
a command economy
No tariffs or quotas
A higher value of exports than imports
13
The NYSE is not a good indicator of how the US economy is doing.
True
False
14
Which of the following groups is not covered by Social Security?
UNemployed workers
Elderly
Families who have lost a parent
Disabled
15
Which of the following would cause the United States currency to increase in value.
The government decides to print more money
A recession occurs
Inflation occurs at incredibly high levels
The United States States GDP increases

Economics Unit 4 Flashcards | StudBud