Economics- 100 pts- THESE ARE OPEN ENDED What has the greatest effect on the distribution of income?

3 criteria for effective taxes

What branch of the US Treasury Department that is in charge of collecting taxes

What is a tax in which the percentage of income is paid in tax is the same regardless of the level of income?

A tax that imposes a higher percentage rate of taxation on higher incomes than lower ones is called a

Define Flat Tax

Define Medicaid

What is the debt ceiling

What role does a tax assessor play in determining property taxes

What is the largest source of income for both state and local governments

Define Keynesian economics

Economic policies designed to stimulate the economy by removing government regulations and increasing production is referred to as

Explain Macroeconomics

Define Aggregate supply curve

What economic philosophy places primary importance on the role of currency in the economy

What shows the different amounts of goods and services an economy can produce at its full potential

List some reasons why countries would trade with another country

Define NAFTA

Why is international trade important to today's economy

Why does a nation need to develop a strong economy

Explain the importance of economic integration in a global economy

Explain the importance of conserving non-renewable resources

Explain advantages of a fixed mortgage rate