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5 Written questions

5 Matching questions

  1. Monetarism
  2. Consumer Price Index (CPI)
  3. National Environmental Policy Act (NEPA)
  4. Progressive Tax
  5. Regressive Tax
  1. a The law passed in 1969 that is the centerpiece of federal environmental policy in the U.S. This law established the requirements for environmental impact statements.
  2. b The key measure of inflation that relates the rise in prices over time.
  3. c An economic theory holding that the supply of money is the key to a nation's economic health. Monetarists believe that too much cash and credit in circulation produces inflation.
  4. d A tax in which the burden falls relatively more heavily upon low-income groups than upon wealthy taxpayers. The opposite of a progressive tax, in which tax rates increase as income increases.
  5. e A tax by which the government takes a greater share of the income of the rich then of the poor. For example, when a rich family pays 50% of its income in taxes and a poor family pays 5%.

5 Multiple choice questions

  1. The "shares" of the national income earned by various groups.
  2. the policy that describes the impact of the federal budget-taxes, spending, and borrowing-on the economy
  3. The federal agency created during the New Deal that regulates stock fraud.
  4. The principle that government should not meddle in the economy.
  5. A tax by which the government takes the same share of income from everyone, rich and poor alike- for example, when both a rich family and a poor family pay 20%.

5 True/False questions

  1. MedicaidA program added to the Social Security system in 1965 that provides hospitalization insurance for the elderly and permits older Americans to purchase inexpensive coverage for doctor fees and other health expenses.


  2. Social Security Trust FundCreated both the Social Security Program and a national assistance program for poor children, usually called AFDC.


  3. Endangered Species Act of 1973The law that charged the Department of Transportation with the responsibility to reduce automobile emissions.


  4. National Labor Relations ActBusinesses with vast holdings in many countries, many of which have annual budgets exceeding that of many foreign governments.


  5. Temporary Assistance for Needy Families (TANF)Once called "Aid to Families With Dependent Children," the naw name for public assistance to needy families.


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