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OCS Civic Mod 7
Review of OCS Civics Module 7
Question | Answer |
---|---|
When the government increases or decreases taxes and spending on government programs to help the economy it is called... | Fiscal Policy |
The government provides public goods at what level of government... | Federal, State and Local Levels of Government |
If jobs are increasing, then we can expect ___ to also increase. | Production |
The lowest point in a phase of the business cycle before the economy starts to grow is called a... | Trough |
The highest point in a phase of the business cycle is called a: | Peak |
Government pays for services such as: | Healthcare, National defense, Education |
A period of financial well-being is called: | Prosperity |
Early American colonists used _____ as a way to obtain goods and services. | Bartering |
Banks make a profit by charging ______ on loans. | Interest |
Banks allow you to save money and ____ money. | Borrow |
A program provided by the government to help pay for housing and medical care for those in need is called: | Public Welfare |
A growing industry in NC that involves adapting living things to create new products is: | Biotechnology |
The federal government program that provides payments to aging and disabled Americans is: | Social Security |
The level of government that pays to help maintain highways is the: | State Government |
After the federal government’s budget is written by the Presidents’ offices, it is sent to ___ for approval. | Congress |
Taxes that the government places on imported goods are called: | Tariffs |
When a company pays for an outside source to provide goods or services for its company it is called: | Outsourcing |
Developing countries might be lacking: | Education, Healthcare, Technology |