Question: 1	Given by government, raised by taxes, to assist individuals who give the government nothing in return. This is known as_______.
Answer:	Subsidies and Incentives Grants in Aid Transfer Payments Transfer Payments

Designed by President Clinton, this Act was an attempt to trim approximately $500 billion from the deficit over a five-year period. This was known as the ___________.	2
Answer:	Omnibus Budget Reconciliation Act of 1993 Budget Enforcement Act (BEA) of 1990 Omnibus Budget Reconciliation Act of 1990 Budget Enforcement Act (BEA) of 1993
The_________was a set of federal deficit targets for Congress and the President to meet over a six year span of time. The federal deficit was to decrease each year until it reached zero in 1991.	3
Answer:	Budget Enforcement Act (BEA) of 1990 Balanced Budget and Emergency Deficit Control Act of 1985 Omnibus Budget Reconciliation Act of 1993 Omnibus Budget Reconciliation Act of 1985

_____were jobs associated with women like nursing, secretarial, etc. This being a rather sexist term, is no longer used.	4
Answer:	White Collar Blue Collar Pink Collar None of the above

______workers were manual laborers.	5
Answer:	Blue Collar White Collar Pink Collar None of the above

TheKnights of Laborcaptured the public imagination. Formed in 1869 by __________.	6
Answer:	Samuel Gompers Uriah Stephens Terrance Powdery None of the above

TheAmerican Federation of Labor was founded by ___________.	7
Answer:	Terrance Powdery Uriah Stephens Samuel Gompers None of the above

In November 1935, ____________announced the creation of the CIO, the Committee for Industrial Organization, composed of about a dozen leaders of AFL unions, to carry on the effort for industrial unionism.	8
Answer:	Eugene V. Debs Terrance Powdery John L. Lewis Uriah Stephens

:9	The Social Security Act passed in ___________.
Answer:	1930 1935 1937 1938

The 2002 Farm Bill was the first in history to contain a separate energy title, reflecting a fundamental policy linking of agriculture to energy.	10
Answer:	True False

A___________________imposes the same percentage of taxation on everyone, regardless of income. If the percentage tax rate is constant, the average tax rate is constant, regardless of income. This means that if a person's income goes up, the percentage of total income paid in taxes doesn't change.	11
Answer:	progressive tax proportional tax regressive tax None of the above

A_______ imposes a higher percentage rate of taxation on those with higher incomes.	12
Answer:	progressive tax proportional tax regressive tax None of the above

A_________imposes a higher percentage rate of taxation on low incomes than on high incomes.	13
Answer:	progressive tax proportional tax regressive tax None of the above

The value-added tax (VAT) is a tax imposed on business at all levels of production, and based on the increase in value, provided by each level.	14
Answer:	True False

The most important taxes on consumption are ____________.	15
Answer:	sales tax payroll tax excise tax property tax Both A and C Both A and D

The Federal Government operates on a fiscal year that begins on __________.	16
Answer:	September 1 October 1 September 30 November 1

:17	______________ is directly related to swings in the business cycle. During a recession many people put off buying certain durable goods resulting in durable goods industries laying off workers until the economy recovers.
Answer:	Seasonal unemployment Cyclical unemployment Structural unemployment Frictional unemployment

_________states that labor groups cause inflation. If a strong union wins a large wage contract, it forces producers to raise their prices in order to compensate for the increase in salaries they have to pay.	18
Answer:	The Federal Reserve System Demand-pull theory Cost-push theory None of the above

_________are areas where companies can locate free of certain local, state, and federal tax laws and operating restrictions.	19
Answer:	General Assistance Negative income tax Social service programs Enterprise zones

___________ occurs when a fundamental change in the operations of the economy reduces the demand for workers and their skills. Sometimes consumer tastes change and certain goods and services are no longer required.	20
Answer:	Frictional unemployment Structural unemployment Cyclical unemployment Technological unemployment