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Ohio/Econ Test Readiness Assessment

Authored by Aimee Wilson

Social Studies

9th - 12th Grade

Used 3+ times

Ohio/Econ Test Readiness Assessment
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21 questions

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1.

MATCH QUESTION

1 min • 5 pts

VOCAB: Match the term to its definition.

Spending more money than you make

Deficit

Fee paid on loans (Interest)

Entitlements

Loan to gov paid back with interest

Discount Rate

Social Security, Medicare, Medicaid

Reserve Requirement

Amount of Money banks keep on hand

Securities/Bonds

2.

MATCH QUESTION

1 min • 5 pts

VOCAB: Match the term to its definition.

tax on imports and exports

Tariffs

Money spent on gov programs

Regressive Tax

Flat tax-affects poor people more

Progressive Tax

Income, sales and other fees paid to gov

Taxes

More money you make the more you pay

Government Spending

3.

MATCH QUESTION

1 min • 5 pts

VOCAB: Match the term to its definition.

prices increase over time

Appropriate (gov definition)

All gov $ except entitlements

Discretionary Spending

Entitlements (SS, Medicare/Medicaid)

Inflation

Control where money goes in gov

Recession

Economy in decline for 6+months

Mandatory Spending

4.

MATCH QUESTION

1 min • 5 pts

VOCAB: Match the term to its definition.

Spending = revenue ($ coming in)

Balanced Budget

Slow down the economy

Contractionary Policy: trying to

The amount of money in the economy

Monetary Policy: Controlling...

Controlling taxes and spending

Fiscal Policy

Speeding up the economy

Expansionary policy

5.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Econ Concept: To slow down the economy, the Fed SHOULD: ​ ​

Raise "Discount" interest rates
Raise the reserve requirements
Lower "Discount" interest rates
Lower reserve requirements

6.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Econ Concept: To slow down the economy, the Fed SHOULD: ​ ​

Raise Discount" interest rates
Lower the reserve requirements
Lower "Discount" interest rates
Raise reserve requirements

7.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Econ Concept: To slow down the economy, the Government SHOULD: ​ ​

Raise Discount" interest rates
Lower Government Spending
Raise Taxes
Raise reserve requirements
Raise government spending

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