Notgrass Exploring Economics Units 11-15 Exam Questions And Answers Rated A+ New Update Assured Satisfaction

(Write a paragraph.) - On the exam, you will also be asked to summarize five main things you have learned from this Exploring Economics class. This question will be worth 14 points, so take time to look back over the curriculum and prepare to be able to give a complete, well-thought-out answer with five things you have learned. You may want to write them out in advance to study from. 2010 - The Affordable Care Act of __________ mandates that every American with few exceptions must have health insurance coverage or face the disincentive of having to pay a penalty. Bankruptcy - _________________ is the inability to pay one's debts. budget - The two most important elements in a _______________ are making it and keeping it. capital gains taxes - One advantage a person has when owning his own home is that when he sells his house, he does not have to pay ______________ on the first $250,000 that the house has gained in value since he purchased it. charitable contribution - A ____________________ is an example of an itemized deduction from a person's income tax. Chicago Mercantile Exchange - major commodities market commercial paper - Short term loans companies obtain to make their payroll are called ______________. corn - America's largest crop is _____________. Council of Economic Advisors - a three-member group that advises the president on domestic and international economic policydeficit - The term _____________ refers only to the amount that the government spends in a given year which exceeds revenue that it received that year. eternal life - The standard of living Jesus offers is ______________. Fannie Mae - government-sponsored investment corporation that buys mortgages that lending institutions issue gross domestic product - The _______________ includes purchases by consumers, purchases of capital goods by businesses, purchases of goods and services by government, and net exports. gross national product - The _____________ is the production of a nation's permanent residents, whether that production occurs within the country or elsewhere. hazard - The tendency of people to engage in riskier behavior if other people bear or share the cost of that behavior is moral ____________. high-tech - The economic boom of the 1990s was called the ___________ bubble. inputs - Time, number of people employed, and resources used are involved in _______________. Internal Revenue Service - enforces the tax code less - When tax rates are high, people have _________ money to invest. Medicaid - federal program that provides medical coverage for the poor Medicare - federal program that provides medical coverage for the elderlyminivan - Chrysler introduced the _______________ in 1983. months - Eleven ____________ is the average length of a recession since World War II. Moral economy - ________________ is economic activity based on moral principles. mortgage - A loan to purchase a home is called a ________________. NASDAQ - electronic stock market founded in 1971 New York Stock Exchange - largest stock exchange in the world Office of Management and Budget - heads the development of the federal budget and sees that the executive departments follow through on budget guidelines Organization of Petroleum Exporting Countries (OPEC) - The __________________ includes Saudi Arabia, Venezuela, Qatar, and other countries. risk - Insurance manages ___________. Social Security - federal program that began to provide retirement benefits for workers and survivor benefits to families of deceased workers spiritual, physical - Christians live in both the __________ and ___________ realms. subsidies - The federal government pays ______________ to farmers and to companies seeking to develop alternative energy sources. Supply and demand - _________________ determines the prices of shares of stock.