The Financial Reform Act of 2010 Established the __________ Within

question 60

Multiple Choice

The Financial Reform Act of 2010 established the __________ within the _________ to regulate credit rating agencies.

• A) a. Bureau of Thrift Agency Supervision; Treasury Department
• B) a. Office of Credit Ratings; Securities and Exchange Commission
• C) a. Federal Ratings Assurance Corporation; Treasury Department
• D) a. Ratings Oversight Commission; Federal Reserve

Understand the changes in the distribution of personal income tax responsibilities across income groups over time.

Identify the main sources of federal government revenue and their relative significance.

Recognize the economic implications of the size and structure of government on economic growth.

Explain the concept of progressive taxation and its effects on government revenue.

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Definitions:

Creditor

An entity or person that lends money or extends credit to another party, expecting to be repaid, usually with interest.

Investment

The action of dispensing resources, often capital, with a view towards gaining profit or income.

College Education

College education is the stage of learning that occurs at universities and colleges, often leading to an undergraduate or graduate degree.

Compounded Monthly

A method of calculating interest where the interest is added to the principal each month, resulting in interest being calculated on a progressively larger base each period.