
Econ Unit 4
Flashcard
•
Social Studies
•
12th Grade
•
Practice Problem
•
Hard
NEWTON NICOLE
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24 questions
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1.
FLASHCARD QUESTION
Front
What is it called when you file taxes or lie about taxable income?
Back
Tax evasion
2.
FLASHCARD QUESTION
Front
What is government spending that includes Social Security and Welfare?
Back
Entitlements
3.
FLASHCARD QUESTION
Front
What is it called when a government agency is dominated or captured by the industries it oversees?
Back
regulatory capture
4.
FLASHCARD QUESTION
Front
What is included in your FICA (Federal Insurance Contributions Act) taxes?
Back
Medicare and Social Security
5.
FLASHCARD QUESTION
Front
The BEST example of structural unemployment in an economy is someone:
1. between jobs or just entering the workforce
2. out of work due to a change in the business cycle
3. out of work due to a seasonal downturn in business
4. whose job skills no longer match the economy’s needs
Back
4. whose job skills no longer match the economy’s needs
6.
FLASHCARD QUESTION
Front
When a person has voluntarily left one job and is looking for another one, what type of unemployment are they experiencing?
Back
frictional unemployment
7.
FLASHCARD QUESTION
Front
Taxation and discretionary spending are the components of which government policy?
Back
fiscal policy
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