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OCS Civic Mod 7

Review of OCS Civics Module 7

QuestionAnswer
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
Created by: anna.barfield
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