Question 1

______ are individuals who are concerned about the negative balance of trade.

Accepted Answer

A)  Labor union representatives 
B)  Interventionists 
C)  Lobbyists 
D)  Protectionists 
A)  Labor union representatives 
B)  Interventionists 
C)  Lobbyists 
D)  Protectionists

Question 2

Which statement is true describing the U.S. overall unemployment rate in recent years?

Accepted Answer

A)  The unemployment rate has steadily increased from a low of 3% in 2001 to more than 14% in 2014. 
B)  The unemployment rate rose from 10% to 16% during the recession and now has returned to 14%. 
C)  For most of the 2000s, the unemployment rate has remained around 10%. 
D)  The unemployment rate rose to more than 9% during the recession and recently has returned to rates typical of recent years of 4-6%. 
A)  The unemployment rate has steadily increased from a low of 3% in 2001 to more than 14% in 2014. 
B)  The unemployment rate rose from 10% to 16% during the recession and now has returned to 14%. 
C)  For most of the 2000s, the unemployment rate has remained around 10%. 
D)  The unemployment rate rose to more than 9% during the recession and recently has returned to rates typical of recent years of 4-6%.

Question 3

______ policy refers to the government's budgetary process and includes the sum total of taxing and spending.

Accepted Answer

A)  Fiscal 
B)  Regulatory 
C)  Monetary 
D)  Distributive 
A)  Fiscal 
B)  Regulatory 
C)  Monetary 
D)  Distributive

Question 4

The Federal Reserve Board is also referred to as the ______.

Accepted Answer

The answer of The Federal Reserve Board is also referred...

Question 5

A ______ tax is one in which the rate of taxation is higher for individuals who earn higher incomes.

Accepted Answer

A)  progressive 
B)  distributive 
C)  regressive 
D)  sales 
A)  progressive 
B)  distributive 
C)  regressive 
D)  sales

Question 6

Which of the following is NOT a goal of economic policy?

Accepted Answer

A)  economic growth 
B)  full employment 
C)  low inflation 
D)  increasing imports 
A)  economic growth 
B)  full employment 
C)  low inflation 
D)  increasing imports

Question 7

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

Accepted Answer

A)  decreasing; decreasing 
B)  increasing; increasing 
C)  decreasing; increasing 
D)  increasing; decreasing 
A)  decreasing; decreasing 
B)  increasing; increasing 
C)  decreasing; increasing 
D)  increasing; decreasing

Question 8

Explain the difference between fiscal policy and monetary policy. How does each tool work? Who is responsible for them?

Accepted Answer

Fiscal policy is a tool to achieve econo

Question 9

The American Recovery and Reinvestment Act (2009) attempted to stimulate economic growth primarily using which economic policy tool?

Accepted Answer

A)  government spending 
B)  regulations 
C)  deficit reduction 
D)  market incentives 
A)  government spending 
B)  regulations 
C)  deficit reduction 
D)  market incentives

Question 10

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

Accepted Answer

A)  2005 
B)  2007 
C)  2009 
D)  2011 
A)  2005 
B)  2007 
C)  2009 
D)  2011

Question 11

The main problem with running a large debt is that ______.

Accepted Answer

A)  the interest we will have to pay on the debt continues to grow, squeezing out other needs 
B)  a growing portion of debt is owned by foreigners (including other countries) 
C)  we will have less money available to fund growing programs like Medicare and Social Security. 
D)  all of these 
A)  the interest we will have to pay on the debt continues to grow, squeezing out other needs 
B)  a growing portion of debt is owned by foreigners (including other countries) 
C)  we will have less money available to fund growing programs like Medicare and Social Security. 
D)  all of these

Question 12

Discuss how the Federal Reserve (Fed) can use monetary policy to affect the economy. What is the impact of this action?

Accepted Answer

The Fed can raise interest rates, which

Question 13

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

Accepted Answer

A)  income tax 
B)  medicare tax 
C)  sales tax 
D)  payroll tax 
A)  income tax 
B)  medicare tax 
C)  sales tax 
D)  payroll tax

Question 14

______ is critical to all other government functions.

Accepted Answer

The answer of ______ is critical to all other government...

Question 15

Although slight growth has occurred, many economic indicators show that the economy has been sluggish in recent months. What monetary policy option can be imposed to spur economic growth?

Accepted Answer

A)  pass a budget that cuts the deficit 
B)  increase the money supply and reduce the discount rate 
C)  increase the balance of trade 
D)  offer tax breaks for certain economic activity 
A)  pass a budget that cuts the deficit 
B)  increase the money supply and reduce the discount rate 
C)  increase the balance of trade 
D)  offer tax breaks for certain economic activity

Question 16

One of largest challenges facing the Obama administration has been ______, which led to the government shutdown in October 2013.

Accepted Answer

A)  the growing federal deficit 
B)  the need for education reform 
C)  the need to address unemployment 
D)  foreign policy, especially the relationship between the United States and Russia 
A)  the growing federal deficit 
B)  the need for education reform 
C)  the need to address unemployment 
D)  foreign policy, especially the relationship between the United States and Russia

Question 17

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

Accepted Answer

Collectability: administrative feasibili

Question 18

According to the Congressional Budget Office (CBO), the United States can expect a nearly ______ billion deficit in 2016.

Accepted Answer

A)  400 
B)  501 
C)  590 
D)  673 
A)  400 
B)  501 
C)  590 
D)  673

Question 19

The United States is said to run an annual ______, which refers to an excess of spending over revenues in a given year.

Accepted Answer

The answer of The United States is said to run...

Question 20

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

Accepted Answer

An increase in unemployment will cause l

______ are individuals who are concerned about the negative balance of trade.

Which statement is true describing the U.S. overall unemployment rate in recent years?

______ policy refers to the government's budgetary process and includes the sum total of taxing and spending.

The Federal Reserve Board is also referred to as the ______.

A ______ tax is one in which the rate of taxation is higher for individuals who earn higher incomes.

Which of the following is NOT a goal of economic policy?

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

Explain the difference between fiscal policy and monetary policy. How does each tool work? Who is responsible for them?

The American Recovery and Reinvestment Act (2009) attempted to stimulate economic growth primarily using which economic policy tool?

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

The main problem with running a large debt is that ______.

Discuss how the Federal Reserve (Fed) can use monetary policy to affect the economy. What is the impact of this action?

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

______ is critical to all other government functions.

Although slight growth has occurred, many economic indicators show that the economy has been sluggish in recent months. What monetary policy option can be imposed to spur economic growth?

One of largest challenges facing the Obama administration has been ______, which led to the government shutdown in October 2013.

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 a nearly ______ billion deficit in 2016.

The United States is said to run an annual ______, which refers to an excess of spending over revenues in a given year.

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

Public Policy and Politics

Government Institutions and Policy Actors

Understanding Public Policy Making

Policy Analysis

Public Problems and Policy Alternatives

Assessing Policy Alternatives

Health Care Policy

Welfare and Social Security Policy

Education Policy

Environmental and Energy Policy

Foreign Policy and Homeland Security

Politics, Analysis, and Policy Choice

Filters

Exam 7: Economic and Budgetary Policy

______ are individuals who are concerned about the negative balance of trade.

Which statement is true describing the U.S. overall unemployment rate in recent years?

______ policy refers to the government's budgetary process and includes the sum total of taxing and spending.

The Federal Reserve Board is also referred to as the ______.

A ______ tax is one in which the rate of taxation is higher for individuals who earn higher incomes.

Which of the following is NOT a goal of economic policy?

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

Explain the difference between fiscal policy and monetary policy. How does each tool work? Who is responsible for them?

The American Recovery and Reinvestment Act (2009) attempted to stimulate economic growth primarily using which economic policy tool?

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

The main problem with running a large debt is that ______.

Discuss how the Federal Reserve (Fed) can use monetary policy to affect the economy. What is the impact of this action?

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

______ is critical to all other government functions.

Although slight growth has occurred, many economic indicators show that the economy has been sluggish in recent months. What monetary policy option can be imposed to spur economic growth?

One of largest challenges facing the Obama administration has been ______, which led to the government shutdown in October 2013.

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 a nearly ______ billion deficit in 2016.

The United States is said to run an annual ______, which refers to an excess of spending over revenues in a given year.

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

Public Policy and Politics

Government Institutions and Policy Actors

Understanding Public Policy Making

Policy Analysis

Public Problems and Policy Alternatives

Assessing Policy Alternatives

Health Care Policy

Welfare and Social Security Policy

Education Policy

Environmental and Energy Policy

Foreign Policy and Homeland Security

Politics, Analysis, and Policy Choice

Filters

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