5 Written questions
5 Matching questions
- Regressive Tax
- National Environmental Policy Act (NEPA)
- Water Pollution Control Act of 1972
- Earned Income Tax Credit (EITC)
- a A law intended to clean up the nations rivers and lakes. It requires municipal, industrial, and other polluters to use pollution control technology and secure permits from the EPA for discharging waste products into waters.
- b 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.
- c A "negative income tax" that provides income to very poor individuals instead of charging them federal income taxes
- d A public assistance, health care program, administered through Social Security, designed to provide health care for poor and/or disabled Americans. It is funded by both the federal government and state governments.
- e 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.
5 Multiple choice questions
- The theory emphasizing that government spending and deficits can help the economy weather its normal ups and downs. Proponents of this theory advocate using the power of government to stimulate the economy when it is lagging.
- 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.
- International organization that regulates international trade.
- This law requires the federal government to protect actively each of the hundreds of species listed as endangered-regardless of the economic effect on the surrounding towns or region.
- A report required by the National environmental policy act that specifies the likely environmental impact of a proposed action.
5 True/False questions
Progressive Tax → 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%.
Minimum Wage → A 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.
Social Security Act of 1935 → Created both the Social Security Program and a national assistance program for poor children, usually called AFDC.
Means-Tested Programs → Government programs available only to individuals below a poverty line.
Income Distribution → The amount of funds collected between any two points in time.