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5 Written questions

5 Matching questions

  1. Earned Income Tax Credit (EITC)
  2. Means-Tested Programs
  3. Antitrust Policy
  4. Progressive Tax
  5. Social Welfare Policies
  1. a A "negative income tax" that provides income to very poor individuals instead of charging them federal income taxes
  2. b A policy designed to ensure competition and prevent monopoly, which is the control of a market by one company.
  3. c Policies that provide benefits to individuals, either through entitlements or means testing.
  4. d Government programs available only to individuals below a poverty line.
  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 law that charged the Department of Transportation with the responsibility to reduce automobile emissions.
  2. The rise in prices for consumer goods.
  3. Negotiations between representatives of labor unions and management to determine pay and acceptable working conditions.
  4. Businesses with vast holdings in many countries, many of which have annual budgets exceeding that of many foreign governments.
  5. 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.

5 True/False questions

  1. Food and Drug Administration (FDA)the federal agency formed in 1913 and assigned the task of approving all food products and drugs sold in the United States. All drugs, with the exception of tobacco, must have their authorization.


  2. Minimum WageThe legal minimum hourly wage for large employers.


  3. National Health InsuranceA 1935 law, also known as the Wagner Act, that guarantees workers the right of collective bargaining sets down rules to protect unions and organizers, and created this to regulate labor-managment relations.


  4. WealthThe value of assets owned.


  5. Transfer PaymentsBenefits 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.