Question 1

Roughly what percentage of all national government spending does the interest on the accumulated national debt account for?

Accepted Answer

A)  20% 
B)  53% 
C)  8% 
D)  33% 
E)  45% 
A)  20% 
B)  53% 
C)  8% 
D)  33% 
E)  45%

Question 2

Describe the three ways the Federal Reserve System controls the money supply.

Accepted Answer

The Federal Reserve System controls the

Question 3

The Department of Education successfully lobbies to add to the budget a new federally funded program that would provide for technology in classrooms. This program would be best described as which of the following?

Accepted Answer

A)  Mandatory 
B)  Presidential 
C)  Pork barrel 
D)  Discretionary 
E)  Earmark 
A)  Mandatory 
B)  Presidential 
C)  Pork barrel 
D)  Discretionary 
E)  Earmark

Question 4

Describe some of the ways that the Federal Reserve Board arguably affects the nation's economy more than the president can.

Accepted Answer

The Federal Reserve Board arguably affec

Question 5

Unemployment insurance is an example of what type of program that guarantees benefits to the recipients?

Accepted Answer

A)  Welfare 
B)  Need-based 
C)  Means-tested 
D)  Altruistic 
E)  Entitlement 
A)  Welfare 
B)  Need-based 
C)  Means-tested 
D)  Altruistic 
E)  Entitlement

Question 6

Which president was especially notable for boosting defense spending?

Accepted Answer

A)  John Kennedy 
B)  George H. W. Bush 
C)  Jimmy Carter 
D)  Bill Clinton 
E)  Ronald Reagan 
A)  John Kennedy 
B)  George H. W. Bush 
C)  Jimmy Carter 
D)  Bill Clinton 
E)  Ronald Reagan

Question 7

Which of the following best describes the Federal Reserve?

Accepted Answer

A)  A partner with the U.S. Congress in determining economic volatility 
B)  A source of economic decision-making power in the U.S. government largely independent of the three branches of government 
C)  A division of the Office of Management and Budget 
D)  A resource for college loans and home loans 
E)  A diplomatic arm of the U.S. government that focuses on the foreign exchange market 
A)  A partner with the U.S. Congress in determining economic volatility 
B)  A source of economic decision-making power in the U.S. government largely independent of the three branches of government 
C)  A division of the Office of Management and Budget 
D)  A resource for college loans and home loans 
E)  A diplomatic arm of the U.S. government that focuses on the foreign exchange market

Question 8

Which of the following would involve using fiscal policy to affect changes in economic activity?

Accepted Answer

A)  Altering the amount of money in circulation 
B)  Taxing and government spending 
C)  Altering interest rates 
D)  Court-mandated wage and price controls 
E)  All of these are correct. 
A)  Altering the amount of money in circulation 
B)  Taxing and government spending 
C)  Altering interest rates 
D)  Court-mandated wage and price controls 
E)  All of these are correct.

Question 9

Define fiscal policy and monetary policy. Explain the tools used by the institutions of the national government to shape economic policy.

Accepted Answer

Fiscal policy refers to the use of gover

Question 10

From World War II until the collapse of the Soviet Union, the national budget allowed for the most spending in which area?

Accepted Answer

A)  Social Security 
B)  Transportation 
C)  Welfare 
D)  National defense 
E)  Foreign aid 
A)  Social Security 
B)  Transportation 
C)  Welfare 
D)  National defense 
E)  Foreign aid

Question 11

Which amendment empowered the national government to collect taxes on income?

Accepted Answer

A)  Fourteenth 
B)  Sixteenth 
C)  Seventeenth 
D)  Eighteenth 
E)  Twenty-First 
A)  Fourteenth 
B)  Sixteenth 
C)  Seventeenth 
D)  Eighteenth 
E)  Twenty-First

Question 12

Entitlement programs fall into the text's categorization of which type of spending?

Accepted Answer

A)  Progressive spending 
B)  Mandatory spending 
C)  Uncontrollable spending 
D)  Discretionary spending 
E)  Incremental spending 
A)  Progressive spending 
B)  Mandatory spending 
C)  Uncontrollable spending 
D)  Discretionary spending 
E)  Incremental spending

Question 13

Which of the following is an example of a regressive tax?

Accepted Answer

A)  Income tax 
B)  Medicare tax 
C)  Social Security tax 
D)  Estate tax 
E)  Excise tax 
A)  Income tax 
B)  Medicare tax 
C)  Social Security tax 
D)  Estate tax 
E)  Excise tax

Question 14

Individuals who meet certain requirements, such as age or income level, qualify to receive benefits under a particular federal program. What are these programs called?

Accepted Answer

A)  Entitlements 
B)  Discretionary spending 
C)  Wealth redistribution 
D)  Pensions 
E)  Subsidies 
A)  Entitlements 
B)  Discretionary spending 
C)  Wealth redistribution 
D)  Pensions 
E)  Subsidies

Question 15

Which of the following best describes what is meant by the phrase "uncontrollable spending" in the context of the federal budget?

Accepted Answer

A)  Much of the budget is already committed by past contracts and agreements. 
B)  Congress and the president seldom agree on a budget. 
C)  Politicians lack the courage to make budget cuts. 
D)  The amount of time spent in hearings and debates on the federal budget increases every year. 
E)  Spending is automatic if no budget agreement is reached. 
A)  Much of the budget is already committed by past contracts and agreements. 
B)  Congress and the president seldom agree on a budget. 
C)  Politicians lack the courage to make budget cuts. 
D)  The amount of time spent in hearings and debates on the federal budget increases every year. 
E)  Spending is automatic if no budget agreement is reached.

Question 16

Social Security and Medicare are funded by taxes on which of the following?

Accepted Answer

A)  Luxury items 
B)  Employer's gross receipts 
C)  An individual's salary 
D)  Value of an individual's personal property 
E)  Capital gains 
A)  Luxury items 
B)  Employer's gross receipts 
C)  An individual's salary 
D)  Value of an individual's personal property 
E)  Capital gains

Question 17

Describe the historic role of the U.S. government in addressing unemployment.

Accepted Answer

The historic role of the U.S. government

Question 18

Explain the taxation systems used in the United States.

Accepted Answer

The United States uses a combination of

Question 19

What was the federal government's single largest budgeted spending item for fiscal year 2017?

Accepted Answer

A)  Social Security 
B)  Food stamps 
C)  Welfare 
D)  National defense 
E)  Foreign aid 
A)  Social Security 
B)  Food stamps 
C)  Welfare 
D)  National defense 
E)  Foreign aid

Question 20

President Reagan backed a sweeping tax reform that reduced the number of brackets. Such a plan incorporates which type of tax?

Accepted Answer

A)  Progressive 
B)  Flat 
C)  Payroll 
D)  Value added 
E)  Excise 
A)  Progressive 
B)  Flat 
C)  Payroll 
D)  Value added 
E)  Excise

Roughly what percentage of all national government spending does the interest on the accumulated national debt account for?

Describe the three ways the Federal Reserve System controls the money supply.

The Department of Education successfully lobbies to add to the budget a new federally funded program that would provide for technology in classrooms. This program would be best described as which of the following?

Describe some of the ways that the Federal Reserve Board arguably affects the nation's economy more than the president can.

Unemployment insurance is an example of what type of program that guarantees benefits to the recipients?

Which president was especially notable for boosting defense spending?

Which of the following best describes the Federal Reserve?

Which of the following would involve using fiscal policy to affect changes in economic activity?

Define fiscal policy and monetary policy. Explain the tools used by the institutions of the national government to shape economic policy.

From World War II until the collapse of the Soviet Union, the national budget allowed for the most spending in which area?

Which amendment empowered the national government to collect taxes on income?

Entitlement programs fall into the text's categorization of which type of spending?

Which of the following is an example of a regressive tax?

Individuals who meet certain requirements, such as age or income level, qualify to receive benefits under a particular federal program. What are these programs called?

Which of the following best describes what is meant by the phrase "uncontrollable spending" in the context of the federal budget?

Social Security and Medicare are funded by taxes on which of the following?

Describe the historic role of the U.S. government in addressing unemployment.

Explain the taxation systems used in the United States.

What was the federal government's single largest budgeted spending item for fiscal year 2017?

President Reagan backed a sweeping tax reform that reduced the number of brackets. Such a plan incorporates which type of tax?

Freedom, Order, or Equality

Majoritarian or Pluralist Democracy

The Constitution

Federalism

Public Opinion and Political Socialization

The Media

Participation and Voting

Political Parties

Nominations, Elections, and Campaigns

Interest Groups

Congress

The Presidency

The Bureaucracy

The Courts

Order and Civil Liberties

Equality and Civil Rights

Policymaking and Domestic Policy

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Exam 17: Economic Policy

Roughly what percentage of all national government spending does the interest on the accumulated national debt account for?

Describe the three ways the Federal Reserve System controls the money supply.

The Department of Education successfully lobbies to add to the budget a new federally funded program that would provide for technology in classrooms. This program would be best described as which of the following?

Describe some of the ways that the Federal Reserve Board arguably affects the nation's economy more than the president can.

Unemployment insurance is an example of what type of program that guarantees benefits to the recipients?

Which president was especially notable for boosting defense spending?

Which of the following best describes the Federal Reserve?

Which of the following would involve using fiscal policy to affect changes in economic activity?

Define fiscal policy and monetary policy. Explain the tools used by the institutions of the national government to shape economic policy.

From World War II until the collapse of the Soviet Union, the national budget allowed for the most spending in which area?

Which amendment empowered the national government to collect taxes on income?

Entitlement programs fall into the text's categorization of which type of spending?

Which of the following is an example of a regressive tax?

Individuals who meet certain requirements, such as age or income level, qualify to receive benefits under a particular federal program. What are these programs called?

Which of the following best describes what is meant by the phrase "uncontrollable spending" in the context of the federal budget?

Social Security and Medicare are funded by taxes on which of the following?

Describe the historic role of the U.S. government in addressing unemployment.

Explain the taxation systems used in the United States.

What was the federal government's single largest budgeted spending item for fiscal year 2017?

President Reagan backed a sweeping tax reform that reduced the number of brackets. Such a plan incorporates which type of tax?

Freedom, Order, or Equality

Majoritarian or Pluralist Democracy

The Constitution

Federalism

Public Opinion and Political Socialization

The Media

Participation and Voting

Political Parties

Nominations, Elections, and Campaigns

Interest Groups

Congress

The Presidency

The Bureaucracy

The Courts

Order and Civil Liberties

Equality and Civil Rights

Policymaking and Domestic Policy

Filters