Question 1

Passed in 2010,the Dodd-Frank Wall Street Reform and Consumer Act

Accepted Answer

A) loosens restrictions on large financial institutions considered "too big to fail." 
B) allowed low interest rates and small down payments for first-time home buyers and small business entrepreneurs. 
C) empowers government to more closely oversee financial activities. 
D) sought to promote environmental protection,consumer protection,and worker safety. 
E) required warning labels on all "hazardous" consumer goods,such as cigarettes. 
A) loosens restrictions on large financial institutions considered "too big to fail." 
B) allowed low interest rates and small down payments for first-time home buyers and small business entrepreneurs. 
C) empowers government to more closely oversee financial activities. 
D) sought to promote environmental protection,consumer protection,and worker safety. 
E) required warning labels on all "hazardous" consumer goods,such as cigarettes. C

Question 2

According to John Maynard Keynes's demand-side economic theory,an economic recession can be shortened through

Accepted Answer

A) government spending programs. 
B) the natural workings of the free-market system. 
C) raising tariffs in the global economy. 
D) a determination on the part of government not to spend any more than it receives in taxes. 
E) tax cuts for the wealthy. 
A) government spending programs. 
B) the natural workings of the free-market system. 
C) raising tariffs in the global economy. 
D) a determination on the part of government not to spend any more than it receives in taxes. 
E) tax cuts for the wealthy. A

Question 3

________ wrote Silent Spring (1962).

Accepted Answer

A) Al Gore 
B) George W.Bush 
C) Greenpeace 
D) Rachel Carson 
E) The Sierra Club 
A) Al Gore 
B) George W.Bush 
C) Greenpeace 
D) Rachel Carson 
E) The Sierra Club D

Question 4

What did Congress do in 1995 to reduce overregulation?

Accepted Answer

A) It cut funding for regulatory agencies like the EPA and Securities and Exchange Commission. 
B) It passed the Airlines Deregulation Act,which eliminated government-set airfares and the requirement that airlines provide service to smaller-sized cities. 
C) It restricted the president's ability to directly request administrative regulations from agency heads. 
D) It cut the budget of the Food and Drug Administration. 
E) It enacted legislation that prohibits administrators in some instances from issuing a regulation unless they can show that its benefits outweigh its costs. 
A) It cut funding for regulatory agencies like the EPA and Securities and Exchange Commission. 
B) It passed the Airlines Deregulation Act,which eliminated government-set airfares and the requirement that airlines provide service to smaller-sized cities. 
C) It restricted the president's ability to directly request administrative regulations from agency heads. 
D) It cut the budget of the Food and Drug Administration. 
E) It enacted legislation that prohibits administrators in some instances from issuing a regulation unless they can show that its benefits outweigh its costs.

Question 5

Who was appointed Fed chair in 2014?

Accepted Answer

A) Ben Bernanke 
B) Milton Friedman 
C) Alan Greenspan 
D) Elizabeth Warren 
E) Janet Yellen 
A) Ben Bernanke 
B) Milton Friedman 
C) Alan Greenspan 
D) Elizabeth Warren 
E) Janet Yellen

Question 6

The Federal Reserve plays a large part in establishing ________ policy.

Accepted Answer

A) monetary 
B) military 
C) fiscal 
D) budgetary 
E) security 
A) monetary 
B) military 
C) fiscal 
D) budgetary 
E) security

Question 7

Monetary policy includes all of the following assumptions EXCEPT that

Accepted Answer

A) the money supply is the key to sustaining a healthy economy. 
B) too little money in circulation contributes to inflation. 
C) too little money in circulation contributes to a slowdown in consumer buying. 
D) too little money in circulation contributes to a slowdown in production. 
E) too much money in circulation contributes to inflation. 
A) the money supply is the key to sustaining a healthy economy. 
B) too little money in circulation contributes to inflation. 
C) too little money in circulation contributes to a slowdown in consumer buying. 
D) too little money in circulation contributes to a slowdown in production. 
E) too much money in circulation contributes to inflation.

Question 8

Government support for agriculture in the form of price supports and income subsidies is designed PRIMARILY to

Accepted Answer

A) increase farm production in order to meet the nation's food needs. 
B) stabilize farm income,which would otherwise fluctuate greatly due to market and weather conditions. 
C) promote farm conservation so as to preserve the productive capacity of U.S.agriculture. 
D) encourage rural development. 
E) encourage urban development. 
A) increase farm production in order to meet the nation's food needs. 
B) stabilize farm income,which would otherwise fluctuate greatly due to market and weather conditions. 
C) promote farm conservation so as to preserve the productive capacity of U.S.agriculture. 
D) encourage rural development. 
E) encourage urban development.

Question 9

Economic efficiency requires

Accepted Answer

A) that the free market not be regulated by government. 
B) that the output of goods and services is the highest possible given the amount of input used to produce them. 
C) the economy to be organized around large firms. 
D) economic transactions to be fair to each party. 
E) economic transactions to be equal to each party. 
A) that the free market not be regulated by government. 
B) that the output of goods and services is the highest possible given the amount of input used to produce them. 
C) the economy to be organized around large firms. 
D) economic transactions to be fair to each party. 
E) economic transactions to be equal to each party.

Question 10

The total cumulative amount the federal government owes to its creditors is known as

Accepted Answer

A) a trade deficit. 
B) a budget deficit. 
C) the national debt. 
D) a credit imbalance. 
E) income disparity. 
A) a trade deficit. 
B) a budget deficit. 
C) the national debt. 
D) a credit imbalance. 
E) income disparity.

Question 11

The $787 billion stimulus bill passed by Congress in 2009

Accepted Answer

A) illustrated classic supply-side principles. 
B) focused primarily on lowering tax rates for businesses. 
C) was passed with strong bipartisan support. 
D) had almost no Republican support. 
E) was not necessary,according to most Democratic-leaning economists. 
A) illustrated classic supply-side principles. 
B) focused primarily on lowering tax rates for businesses. 
C) was passed with strong bipartisan support. 
D) had almost no Republican support. 
E) was not necessary,according to most Democratic-leaning economists.

Question 12

Fiscal policy is a mechanism the government employs to influence the economy.Fiscal policy is based on

Accepted Answer

A) the idea that a balanced budget is the key to a healthy economy. 
B) the money supply. 
C) the government's taxing and spending decisions. 
D) the importance of maintaining a 12-month (fiscal year)economic cycle. 
E) the projections of the Federal Reserve Board. 
A) the idea that a balanced budget is the key to a healthy economy. 
B) the money supply. 
C) the government's taxing and spending decisions. 
D) the importance of maintaining a 12-month (fiscal year)economic cycle. 
E) the projections of the Federal Reserve Board.

Question 13

If the economy is sluggish,with low productivity and high unemployment,the fiscal policy action on the demand side would be to

Accepted Answer

A) increase taxes. 
B) cut business taxes. 
C) increase government spending. 
D) decrease government spending. 
E) None of these answers is correct. 
A) increase taxes. 
B) cut business taxes. 
C) increase government spending. 
D) decrease government spending. 
E) None of these answers is correct.

Question 14

Government benefits for business include all of the following EXCEPT

Accepted Answer

A) low-interest loans and government-guaranteed loans. 
B) corporate tax breaks. 
C) a national transportation system. 
D) minimum-wage laws. 
E) a national education system. 
A) low-interest loans and government-guaranteed loans. 
B) corporate tax breaks. 
C) a national transportation system. 
D) minimum-wage laws. 
E) a national education system.

Question 15

What has been the preferred strategy of U.S.lawmakers for combating the problem of global warming?

Accepted Answer

A) reducing regulation on businesses to allow more private-sector solutions to develop creatively 
B) raising interest rates to slow down the economy 
C) business-tradable carbon tax credits 
D) reduction of carbon emissions 
E) alternative energy sources and energy conservation 
A) reducing regulation on businesses to allow more private-sector solutions to develop creatively 
B) raising interest rates to slow down the economy 
C) business-tradable carbon tax credits 
D) reduction of carbon emissions 
E) alternative energy sources and energy conservation

Question 16

The creation of the Food and Drug Administration and the passage of the Securities and Exchange Act were intended to

Accepted Answer

A) promote equity in the economy. 
B) eliminate the problem of externalities in the economy. 
C) destroy the legal foundation of the business trust. 
D) promote efficiency in the economy. 
E) None of these answers is correct. 
A) promote equity in the economy. 
B) eliminate the problem of externalities in the economy. 
C) destroy the legal foundation of the business trust. 
D) promote efficiency in the economy. 
E) None of these answers is correct.

Question 17

The Federal Reserve System

Accepted Answer

A) was created in 1933. 
B) is run by a congressional committee. 
C) regulates only national banks. 
D) was created specifically to conduct fiscal policy. 
E) None of these answers is correct. 
A) was created in 1933. 
B) is run by a congressional committee. 
C) regulates only national banks. 
D) was created specifically to conduct fiscal policy. 
E) None of these answers is correct.

Question 18

Keynesian economics emphasizes ________ as a means of curtailing economic downturns.

Accepted Answer

A) reduced taxes 
B) increased government spending 
C) decreased regulation 
D) decreased inflation 
E) increased taxes 
A) reduced taxes 
B) increased government spending 
C) decreased regulation 
D) decreased inflation 
E) increased taxes

Question 19

The Fed chair

Accepted Answer

A) is appointed by the president,with no approval from the Senate. 
B) serves a four-year term. 
C) rarely cares about monetary policy. 
D) has absolute authority over the Fed. 
E) All of these answers are correct. 
A) is appointed by the president,with no approval from the Senate. 
B) serves a four-year term. 
C) rarely cares about monetary policy. 
D) has absolute authority over the Fed. 
E) All of these answers are correct.

Question 20

The Tennessee Valley Authority is

Accepted Answer

A) an electricity industry owned by the United States. 
B) a private industry regulated by the United States. 
C) a private electricity industry exempt from government regulation. 
D) a private environmental organization that receives federal funding. 
E) a private environmental organization with power to regulate industry. 
A) an electricity industry owned by the United States. 
B) a private industry regulated by the United States. 
C) a private electricity industry exempt from government regulation. 
D) a private environmental organization that receives federal funding. 
E) a private environmental organization with power to regulate industry.

Passed in 2010,the Dodd-Frank Wall Street Reform and Consumer Act

According to John Maynard Keynes's demand-side economic theory,an economic recession can be shortened through

________ wrote Silent Spring (1962).

What did Congress do in 1995 to reduce overregulation?

Who was appointed Fed chair in 2014?

The Federal Reserve plays a large part in establishing ________ policy.

Monetary policy includes all of the following assumptions EXCEPT that

Government support for agriculture in the form of price supports and income subsidies is designed PRIMARILY to

Economic efficiency requires

The total cumulative amount the federal government owes to its creditors is known as

The $787 billion stimulus bill passed by Congress in 2009

Fiscal policy is a mechanism the government employs to influence the economy.Fiscal policy is based on

If the economy is sluggish,with low productivity and high unemployment,the fiscal policy action on the demand side would be to

Government benefits for business include all of the following EXCEPT

What has been the preferred strategy of U.S.lawmakers for combating the problem of global warming?

The creation of the Food and Drug Administration and the passage of the Securities and Exchange Act were intended to

The Federal Reserve System

Keynesian economics emphasizes ________ as a means of curtailing economic downturns.

The Fed chair

The Tennessee Valley Authority is

Political Thinking and Political Culture: Becoming a Responsible Citizen

Constitutional Democracy: Promoting Liberty and Self-Government

Federalism: Forging a Nation

Civil Liberties: Protecting Individual Rights

Equal Rights: Struggling Toward Fairness

Public Opinion and Political Socialization: Shaping the Peoples Voice

Political Participation: Activating the Popular Will

Political Parties,candidates,and Campaigns: Defining the Voters Choice

Interest Groups: Organizing for Influence

The News Media: Communicating Political Images

Congress: Balancing National Goals and Local Interests

The Presidency: Leading the Nation

The Federal Bureaucracy: Administering the Government

The Federal Judicial System: Applying the Law

Income,welfare,and Education Policy: Providing for Personal Security

Foreign Policy: Protecting the American Way

Filters

Exam 15: Economic and Environmental Policy: Contributing to Prosperity

Passed in 2010,the Dodd-Frank Wall Street Reform and Consumer Act

According to John Maynard Keynes's demand-side economic theory,an economic recession can be shortened through

________ wrote Silent Spring (1962).

What did Congress do in 1995 to reduce overregulation?

Who was appointed Fed chair in 2014?

The Federal Reserve plays a large part in establishing ________ policy.

Monetary policy includes all of the following assumptions EXCEPT that

Government support for agriculture in the form of price supports and income subsidies is designed PRIMARILY to

Economic efficiency requires

The total cumulative amount the federal government owes to its creditors is known as

The $787 billion stimulus bill passed by Congress in 2009

Fiscal policy is a mechanism the government employs to influence the economy.Fiscal policy is based on

If the economy is sluggish,with low productivity and high unemployment,the fiscal policy action on the demand side would be to

Government benefits for business include all of the following EXCEPT

What has been the preferred strategy of U.S.lawmakers for combating the problem of global warming?

The creation of the Food and Drug Administration and the passage of the Securities and Exchange Act were intended to

The Federal Reserve System

Keynesian economics emphasizes ________ as a means of curtailing economic downturns.

The Fed chair

The Tennessee Valley Authority is

Political Thinking and Political Culture: Becoming a Responsible Citizen

Constitutional Democracy: Promoting Liberty and Self-Government

Federalism: Forging a Nation

Civil Liberties: Protecting Individual Rights

Equal Rights: Struggling Toward Fairness

Public Opinion and Political Socialization: Shaping the Peoples Voice

Political Participation: Activating the Popular Will

Political Parties,candidates,and Campaigns: Defining the Voters Choice

Interest Groups: Organizing for Influence

The News Media: Communicating Political Images

Congress: Balancing National Goals and Local Interests

The Presidency: Leading the Nation

The Federal Bureaucracy: Administering the Government

The Federal Judicial System: Applying the Law

Income,welfare,and Education Policy: Providing for Personal Security

Foreign Policy: Protecting the American Way

Filters