Econ: Money (Ch. 10)
Quiz by Cory West
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- Q 1/25Score 0According to the 2019 Federal Budget, discretionary spending accounts for _____ of the GDP291.3%17.2 %16.3%6.3%
25 questions
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- Q1According to the 2019 Federal Budget, discretionary spending accounts for _____ of the GDP1.3%17.2 %16.3%6.3%60s
- Q2Net interest is the government’s interest payments on debt held by the public, offset by interest income the government receivesTrueFalse60s
- Q3The deficit (or shortage) of the 2019 GDP was ____________, adding debt to you and me in the future.1 billion dollars3 trillion dollars1 trillion dollars3 billion dollars60s
- Q4Gross Domestic Product (GDP) is the dollar value of all final goods and services produced within a country’s borders in one year.TrueFalse60s
- Q5Mandatory spending includes things like medicare, medicaid, and...Social securitydefensenet interestnon-defense60s
- Q6According to the image above, how much do banks reserve (hold on hand) of deposits made by individuals or businesses?90%50%10%33%60s
- Q7According to the bureau of economic analysis and international monetary fund, as noted in the above image, in 2015 Texas' GDP was most similar to which country?The United StatesBrazilCanadaCuba60s
- Q8Unemployment includes workers that are actively looking for a job but aren’t working, while the Unemployment Rate is the percent of people in the labor force who want a job but are not working.FalseTrue30s
- Q9The Inflation Rate is the percent change in prices from year to year.TrueFalse60s
- Q10How does the government stabilize the economy?by using GDPmonetary policyfiscal policy and monetary policyfiscal policy60s
- Q11American currency is both portable and durableTrueFalse60s
- Q12The three types of unemployment are...frictional, structural, businesscyclical, structural, businessfrictional, cyclical, and structuralfrictional, cyclical, original60s
- Q13Money is the same as wealth or income.FalseTrue60s
- Q14Money is ______________ that is generally accepted in payment for goods and servicesanythingcurrencyresourcesa good60s
- Q15The United States' Federal Reserve is the nation's central bankTrueFalse60s
