Exam 17: Economic Policy

One benefit of a consumption tax is that it could ______.

Inflation is problematic because it ______.

The alternation of periods between economic peak and valley is called a ______.

John Maynard Keynes was an advocate of ______.

An economic boom is a sign that ______.

The basic principles that regulate the economic market and influence the price of goods are known as laws of ______.

For much of the history of the United States,______.

According to supporters of supply-side economics,lowering taxation would actually create more government revenue and stimulate the economy because ______.

Grover Norquist,president of Americans for Tax Reform,has stated that his goal is to ______.

Which of the following statements is NOT true under current federal law?

Fiscal policy refers to ______.

Republicans are more likely than Democrats to argue that the ______ tax should be reduced.

The cost of borrowing money calculated as a percentage of the amount borrowed is a(n)______ rate.

The ______ is a twelve-bank body established in 1913 to oversee monetary policy by controlling the amount of money banks and other institutions have available to lend.

______ had the largest historical impact on the U.S.government's becoming more involved in economic policy.

What are the two theories of trade policy?