Exam 7: Economic and Budgetary Policy

Which branch of government typically initiates the budgetary process?

When the economy grows, often inflation increases as well. This condition illustrates the principle of ______.

How has the nature of U.S. jobs changed in the past few decades?

What does the Bureau of Labor Statistics do?

Which statement best describes the trend in the labor force participation rate?

Explain fiscal policy.

Regulation is defined as ______.

Discuss the following national trends related to the U.S. workforce: labor force participation by women.

Tax policy includes a variety of methods used to increase revenues. Explain the variables of taxation noted by b. Guy Peters (2006).

According to the Congressional Budget Office (CBO), the United States can expect to see a ______ billion deficit in 2017.

How is inflation measured?

In general, increasing levels of unemployment will lead to ______ government revenue and ______ government expenditures.

Which of the following economic policy concerns is often present with a growing economy and high levels of employment?

What is monetary policy?

Explain three policy options available to the U.S. government to reduce its annual deficits and accumulating national debt. For each option, discuss considerations relative to that option, such as economic, political, or equity concerns.

According to the authors, there has been an economic downturn since ______.

How does an increase in unemployment levels affect the federal budget?

The name of the agency that compiles all of the statistics on employment patterns in the United States is the ______.

The ______ is a measure that represents the average change in price over time of a market basket of consumer goods and services.

What is the difference between the federal deficit and the federal debt? How does the deficit relate to economic growth?