taxes & gov’t spending fiscal policy monetary policy potpourri federal reserve & more...
TRANSCRIPT
![Page 1: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/1.jpg)
![Page 2: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/2.jpg)
Taxes & Gov’t Spending Fiscal Policy
Monetary Policy Potpourri
Federal Reserve & More
Monetary Policy
10 10 10 10 10
20 20 20 20 20
30 30 30 30 30
40 40 40 40 40
50 50 50 50 50
![Page 3: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/3.jpg)
Question 1 - 10
• This type of tax system is used in the U.S. for personal income taxes. It is a tax for which the percentage of income paid in taxes increases as income increases.
![Page 4: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/4.jpg)
Answer 1 – 10
• What is a progressive tax?
![Page 5: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/5.jpg)
Question 1 - 20
• This budget issue occurs when tax revenues are less than government spending.
![Page 6: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/6.jpg)
Answer 1 – 20
• What is a budget deficit?
![Page 7: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/7.jpg)
Question 1 - 30
• This budget issue occurs when tax revenues are more than government spending.
![Page 8: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/8.jpg)
Answer 1 – 30
• What is a budget surplus?
• Bonus 10: What do we call it when tax revenues equal government spending?
![Page 9: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/9.jpg)
Question 1 - 40
• This is a tax system for which the percentage of income paid in taxes remains the same for all income levels.
![Page 10: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/10.jpg)
Answer 1 – 40
• What is a proportional tax?
![Page 11: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/11.jpg)
Question 1 - 50
• This tax system is a tax for which the percentage of income paid in taxes decreases as income increases.
![Page 12: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/12.jpg)
Answer 1 – 50
• What is a regressive tax?
![Page 13: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/13.jpg)
Question 2 - 10
• Cutting taxes is an example of expansionary fiscal policy, true or false.
![Page 14: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/14.jpg)
Answer 2 – 10
• What is true?
![Page 15: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/15.jpg)
Question 2 - 20
• If the federal government were to cut taxes, this would be an example of _____ fiscal policy.
![Page 16: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/16.jpg)
Answer 2 – 20
• What is contractionary fiscal policy?
![Page 17: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/17.jpg)
Question 2 - 30
• For expansionary fiscal policy, the federal government would decrease spending, true or false.
![Page 18: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/18.jpg)
Answer 2 – 30
• What is false?
![Page 19: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/19.jpg)
Question 2 - 40
• In contractionary fiscal policy, government would decrease spending, true or false.
![Page 20: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/20.jpg)
Answer 2 – 40
• What is false?
![Page 21: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/21.jpg)
Question 2 - 50
• Name the two tools of fiscal policy.
![Page 22: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/22.jpg)
Answer 2 – 50
• What are taxes and government spending?
![Page 23: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/23.jpg)
Question 3 - 10
• The actions the Federal Reserve takes to influence the level of real GDP and the rate of inflation in the economy.
![Page 24: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/24.jpg)
Answer 3 – 10
• What is monetary policy?
![Page 25: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/25.jpg)
Question 3 - 20
• The Federal Reserve does _____ _____ so that banks can cash checks to one another.
![Page 26: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/26.jpg)
Answer 3 – 20
• What is check clearing?
![Page 27: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/27.jpg)
Question 3 - 30
• This rate is the interest rate banks charge each other for loans.
![Page 28: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/28.jpg)
Answer 3 – 30
• What is the federal funds rate?
![Page 29: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/29.jpg)
Question 3 - 40
• The Federal Reserve regulates the money supply, true or false.
![Page 30: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/30.jpg)
Answer 3 – 40
• What is true?
![Page 31: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/31.jpg)
Question 3 - 50
• This 10% of all assets is the amount required by banks of the the Federal Reserve.
![Page 32: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/32.jpg)
Answer 3 – 50
• What is the required reserve?
![Page 33: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/33.jpg)
Question 4 - 10
• This is the price paid for the use of borrowed money.
![Page 34: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/34.jpg)
Answer 4 – 10
• What is simple interest?
![Page 35: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/35.jpg)
Question 4 - 20
• This is the term used for a stock market that is doing poorly.
![Page 36: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/36.jpg)
Answer 4 – 20
• What is a bear market?
• Bonus 10: What if the market is doing well?
![Page 37: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/37.jpg)
Question 4 - 30
• One of the advantages of corporations, LLCs and LLPs is this.
![Page 38: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/38.jpg)
Answer 4 – 30
• What is limited liability?
![Page 39: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/39.jpg)
Question 4 - 40
• This is something that is paid for by someone other than the producer.
![Page 40: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/40.jpg)
Answer 4 – 40
• What is an externality?
![Page 41: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/41.jpg)
Question 4 - 50
• This index is used to calculate inflation.
![Page 42: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/42.jpg)
Answer 4 – 50
• What is the Consumer Price Index?
![Page 43: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/43.jpg)
Question 5 - 10
• The Board of Governors of the Federal Reserve is made up of the 12 Federal Reserve Bank presidents and the Chairman of the Federal Reserve, true or false.
![Page 44: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/44.jpg)
Answer 5 – 10
• What is true?
![Page 45: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/45.jpg)
Question 5 - 20
• The number of districts in the Federal Reserve System.
![Page 46: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/46.jpg)
Answer 5 – 20
• What is 12?
![Page 47: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/47.jpg)
Question 5 - 30
• The Federal Reserve serves the government by selling securities, acting as the bank for the government and issuing currency, true or false.
![Page 48: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/48.jpg)
Answer 5 – 30
• What is true?
![Page 49: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/49.jpg)
Question 5 - 40
• This rate is the rate the Federal Reserve charges for loans to commercial banks.
![Page 50: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/50.jpg)
Answer 5 – 40
• What is the discount rate?
![Page 51: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/51.jpg)
Question 5 - 50
• The buying and selling of government securities to alter the money supply.
![Page 52: Taxes & Gov’t Spending Fiscal Policy Monetary Policy Potpourri Federal Reserve & More Monetary Policy 10 20 30 40 50](https://reader036.vdocument.in/reader036/viewer/2022070410/56649ea85503460f94bab590/html5/thumbnails/52.jpg)
Answer 5 – 50
• What are open market operations?