A ______________ occurs when spending equals revenue.

balanced budget

What shows an economy's production after the distortions of price increases have been removed?

real GDP

___________ programs provide health, nutritional, or income
payments to people meeting certain eligibility requirements.

Entitlement

What principle refers to the fact that a person is prevented from consuming private goods unless he or she pays for them?

exclusion

This type of tax takes the same percentage of income from everyone regardless of their earnings.

proportional

Which laws are designed to control monopoly power and to preserve and promote competition?

Antitrust

Which act established the Federal Deposit Insurance Corporation?

Glass-Steagall Banking Act

When passed by Congress, _________ become laws that authorize spending for a particular activity.

appropriations bills

The_______________is deducted from a worker's paycheck to fund Social Security and Medicare.

payroll tax

The ____________ is the interest rate the Federal Reserve charges on its loans.

discount rate