Ch 11 MCQ Vocab

What is an "Agenda"?

• A list of items to be discussed or acted upon

• A financial obligation between parties

• A type of tax system

• An economic policy by the government

What are "Bonds"?

• Stocks owned by a company

• Loans made to the government or corporations

• Monetary units of currency

• Types of tax exemptions

What does "Discount Rate" refer to?

• The interest rate on savings accounts

• The rate at which banks can borrow from the Federal Reserve

• A rate used for consumer loans

• A tax reduction for consumers

What are "Entitlements"?

• Programs that provide financial assistance to businesses

• Guaranteed benefits paid to individuals

• Tax incentives for wealthy individuals

• Loans given to citizens for education

What is the role of the "Federal Reserve Board"?

• To oversee national parks

• To manage the nation’s monetary policy

• To regulate healthcare costs

• To implement trade agreements

What is "Fiscal Policy"?

• The government’s approach to taxing and spending

• Policies regarding environmental protection

• Regulations on international trade

• Standards for corporate governance

What is a "Flat Tax"?

• A tax system where everyone pays the same rate

• A tax that varies based on income levels

• A type of import tax

• A tax exemption for low-income individuals

What does "Globalization" refer to?

• The process of increasing trade between countries

• The isolation of national economies

What is the "IRS"?

• The body that regulates international relations

• The agency responsible for tax collection and enforcement

• A type of savings account

• A government organization for healthcare

What is "Mandatory Spending"?

• Expenditures that are at the discretion of Congress

• Required spending on certain programs like Social Security

• Investments in national defense

• Spending on state projects