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of 116 available terms

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5 Written Questions

5 Matching Questions

  1. Discouraged Worker
  2. Underground Economy
  3. National Debt
  4. Capital Goods
  5. Vertical Equity
  1. a total sum of money a government owes
  2. b buildings, machinery, tools, and other goods that provide productive services over a period of time.
  3. c the idea that taxpayers with a greater ability to pay taxes should pay larger amounts. The problem is "how much more?"
  4. d a person who wants a job but has given up looking
  5. e exchanges of goods and services that are not reported to the government and thereby escape taxation

5 Multiple Choice Questions

  1. book that introduced Keynesian economics
  2. The owner is personally and fully responsible for all losses and debts of the business
  3. Budget philosophy prior to the great depression; aimed at matching annual revenues with costs except during times of war
  4. when the rate of inflation turns out to be roughly what most people had expected
  5. Unemployment that occurs because job-seekers and employers need time to find each other

5 True/False Questions

  1. Underemployed Workerworkers are overqualified for their jobs or work fewer hours than they would prefer


  2. Monetary PolicyRegulation of money supply to influence economy-wide activity


  3. HyperinflationA very high rate of inflation


  4. Limited Liabilitythe responsibility of a business's owners for losses only up to the amount they invest


  5. Proportional Taxa tax for which the percentage of income paid in taxes remains the same for all income levels


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