Which term describes a company that provides all the goods and services for a particular market such that competition is nonexistent?
2
The power of the federal government to issue economic regulations was largely dormant until approximately
Which of the following is an organization founded in 1...
Which term describes a good that, after it is provided, may be enjoyed by anyone and
may not be denied to anyone? - ANSWER-public good
Laws that structure the conditions under which you can sell your property are called -
ANSWER-? market standards, contractual terms, trade agreements (wrong), laws of
exchange, collective bargaining agreements
Universal compulsory education is an example of government efforts to - ANSWER-
create a labor force
Which term describes a company that provides all the goods and services for a
particular market such that competition is nonexistent? - ANSWER-Monopoly
The most fundamental way that government affects investment is by - ANSWER-
promoting business, investor, and consumer confidence.
National tariff policies promote domestic markets by - ANSWER-restricting imported
goods.
The government's use of taxing and spending powers to manipulate the economy is
called - ANSWER-fiscal policy.
The income tax in the United States today is a _________ tax. - ANSWER-progressive
A sales tax is deemed ___________ because everybody pays at the same rate, but the
more you make, the lower the percentage of your income that goes to buying items and
paying sales tax. - ANSWER-regressive
, The amount by which government spending exceeds revenues in a fiscal year is called
the - ANSWER-budget deficit.
As a percentage of GDP, total government receipts in the United States are
______________ those of most other industrialized countries. - ANSWER-smaller than
Fiscal policy is made by - ANSWER-the President and Congress.
According to the text, state and local governments' revenues depend primarily on -
ANSWER-sales and property taxes.
The federal government raises most of its revenue from ______________. - ANSWER-
individual income taxes
Federal taxes on the sale of alcohol, tobacco, and gasoline are examples of
______________ taxes. - ANSWER-excise
Which of the following statements is true regarding capital gains? - ANSWER-Capital
gains are taxed at a lower rate than ordinary income.
In 2010, defense expenditures were approximately ______________ of all federal
expenditures. - ANSWER-20 percent
According to the text, the Federal Reserve is most responsive and accountable to -
ANSWER-bankers.
The authority of the federal government to issue economic regulations stems primarily
from what the Constitution says about - ANSWER-interstate commerce.
The power of the federal government to issue economic regulations was largely
dormant until approximately - ANSWER-1890
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller tuition. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.99. You're not tied to anything after your purchase.
