Exam 7: Economic and Budgetary Policy

The economic goal of stable prices is typically measured using the ______.

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

The distributive effects of a tax are ______.

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.

______ is critical to all other areas of policy but is not often recognized for its central role.

The Labor Department's ______ is the primary agency responsible for collecting data on employment and unemployment.

The national debt, which is the accumulation of all of the deficits the nation has run, was nearly ______ in December 2016.

Which statement accurately reflects how regulatory policy is typically used with regard to the economy?

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

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

The economic policy goal of ______ refers to policies that are designed to increase productivity, commerce, sales, employment, and the general pace of activity within the economy.

As a part of the federal budgeting process, an executive agency called the ______ reviews all agency budgets and ensures that they conform to the intent of the policy.

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 major instrument through which any government sets its overall economic policy each year?

Which of the following terms refers to the ability of a method of taxation to keep up with inflation and economic growth?

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

Inflation is measured by the ______.

Discuss the two major ways that the federal government can reduce the deficit. In your discussion, explain the advantages and obstacles to each major approach.

A CPI between ______% and ______% is one that most government policy makers can accept as tolerable.

A positive ______ occurs when the United States exports more than it imports.