Personal Finance Mixed Bag Government Budgets Government Revenue State Government

-This is a type of bank composed of members who pool their money and offer bank services at discount rates? Row Question

-credit unions Row Answer

-This term refers to the price paid to borrow someone’s money? Row Question

-interest Row Answer

-Name the item of value that is promised in order to borrow a large sum of money? Row Question

-collateral Row Answer

-Place where shares of corporations or mutual funds are sold on the open market? Row Question

-Stock Market Row Answer

-This is an economic fund that combines the money of many investors and is operated by a professional fund manager who makes the investment decisions? Row Question

-mutual fund Row Answer

-These are certificates issued to investors who loan their money to businesses or governments and are repaid with interest? Row Question

-Bonds Row Answer

-This is the remaining balance on a loan after interest has been paid? Row Question

-principle Row Answer

Row Question -This is the legal term for someone who has stated in court their inability to repay their debts?

-bankruptcy Row Answer

Row Question -When are your taxes due to the federal and state government each year?

-April 15th Row Answer

-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 Question

-progressive Row Answer

-This is the economic term for the money that is received? Row Question

-revenue Row Answer

-Name the economic term for the money that is spent? Row Question

-expenditures Row Answer

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

-fiscal year Row Answer

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

-deficit Row Answer

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

-balanced budget Row Answer

-Who is the head of the state executive branch and leader of state government. Row Question

-Governor Row Answer

-This is an elected position that is similar to the Vice President but on the state level. Row Question

-Lieutenant Governor Row Answer

-What is the name for the North Carolina Legislature? Row Question

-General Assembly Row Answer

-How is representation determined in each house? Row Question

-population Row Answer

-What is the largest problem usually facing state government? Row Question

-funding Row Answer

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

-regressive Row Answer

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

-income tax Row Answer

-When are your taxes due to the federal and state government each year? Row Question

-April 15th Row Answer

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

-excise tax Row Answer

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

-tariffs Row Answer