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5 Written questions

5 Matching questions

  1. Multinational Corporations
  2. Wealth
  3. Federal Reserve System
  4. Social Welfare Policies
  5. Antitrust Policy
  1. a Policies that provide benefits to individuals, either through entitlements or means testing.
  2. b The main instrument for making monetary policy in the United States. It was created by Congress in 1913 to regulate the lending practices of banks and thus the money supply.
  3. c A policy designed to ensure competition and prevent monopoly, which is the control of a market by one company.
  4. d Businesses with vast holdings in many countries, many of which have annual budgets exceeding that of many foreign governments.
  5. e The value of assets owned.

5 Multiple choice questions

  1. 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%.
  2. Benefits given by the government directly to individuals. These may be either cash transfers, such as Social Security payments and retirement payments to former government employees, or in-kind transfers, such as food stamps and low-interest loans for college education.
  3. A compulsory insurance program for all Americans that would have the government finance citizens' medical care. First proposed by President Harry S. Truman, the plan was soundly opposed by the American Medical Association.
  4. 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.
  5. The law that charged the Department of Transportation with the responsibility to reduce automobile emissions.

5 True/False questions

  1. Labor UnionA fund created by Congress in 1980 to clean up hazardous waste sites. Money for the fund comes from taxing chemical products.


  2. MonetarismAn economic system in which individuals and corporations, not the government, own the principal means of production and seek profits.


  3. Means-Tested ProgramsGovernment programs available only to individuals below a poverty line.


  4. Fiscal Policythe policy that describes the impact of the federal budget-taxes, spending, and borrowing-on the economy


  5. IncomeA 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.


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