2. 200 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 300 Government Budgets Economic Mixed Bag Gov’t Revenues Business and Labor Executive Departments

3. -This is the economic term for the money that is received? Row 1---100 Question

4. -revenue Row 1---100 Answer

5. -Name the economic term for the money that is spent? Row 1---200 Question

6. -expenditures Row 1---200 Answer

7. -What term describes the process of spending more money than you have? Row 1---300 Question

8. -deficit spending Row 1---300 Answer

9. -This term is used to describe the large amount of money the government borrows each year when they spend more than they received? Row 1---400 Question

10. -national debt Row 1---400 Answer

11. -Name the concept that in North Carolina, governments can not spend more money than it has received? Row 1---500 Question

12. -balanced budget Row 1---500 Answer

13. -This is the term for a year period of time in respect to a government or business budget? Row 2---100 Question

14. -fiscal year Row 2---100 Answer

15. -This is the idea that there is not enough of a product for everyone to have and this fact causes goods to have a value. Row 2---200 Question

16. -scarcity Row 2---200 Answer

17. Row 2---300 Question -Situation when demand is greater than the supply of a product---price will usually increase?

18. -shortage Row 2---300 Answer

19. Row 2---400 Question -Situation when supply is greater than demand---price will usually decrease?

20. -surplus Row 2---400 Answer

21. -Term describing the situation when one nation produces a product better or cheaper than other nations? Row 2---500 Question

22. -comparative advantage Row 2---500 Answer

23. -This is a type of tax that is based on the ability of a person to pay and people who make more money should pay a greater percentage? Row 3---100 Question

24. -progressive Row 3---100 Answer

25. -Type of tax that is paid on an equal percentage by everyone-- -can be unfair to those with less of a disposable income? Row 3---200 Question

26. -regressive Row 3---200 Answer

27. -Tax that is based on the money one earns and this tax is usually progressive? Row 3---300 Question

28. -income tax Row 3---300 Answer

29. -Which tax is placed upon certain items such as gas, alcohol, and cigarettes? Row 3---400 Question

30. -excise tax Row 3---400 Answer

31. -Tax rate that is placed upon certain items as they are imported into the nation? Row 3---500 Question

32. -tariffs Row 3---500 Answer

33. -What group coordinates the government’s response to natural disasters? Row 4---100 Question

34. -FEMA Row 4---100 Answer

35. -This agency inspects visitors and goods as they enter the nation? Row 4---200 Question

36. -Customs Row 4---200 Answer

37. -This agency protects the President, VP, and other important officials? Row 4---300 Question

38. -Secret Service Row 4---300 Answer

39. -This newest department oversees the security of Americans in the aftermath of the 9-11 terrorist attacks? Row 4---400 Question

40. -Homeland Security Row 4---400 Answer

41. -What is the VA? Row 4---500 Question

42. -Veteran’s Administration Row 4---500 Answer

43. -Name for two or more businesses becoming one larger business? Row 5---100 Question

44. -merger Row 5---100 Answer

45. -This occurs when government begins a general period of fewer restrictions governing a type of business? Row 5---200 Question

46. -deregulation Row 5---200 Answer

47. -This is a process where workers join together and make demands as a larger group in order to gain leverage with their employers. Row 5---300 Question

48. -collective bargaining Row 5---300 Answer

49. -Name this process where two groups within a dispute try to use a third party to give a suggested solution to their problem? Row 5---400 Question

50. -mediation Row 5---400 Answer

51. -This is a process where two groups within a dispute go to a third party who is given legal binding authority to decide the issue? Row 5---500 Question

52. -arbitration Row 5---500 Answer