Question 1

The best way to influence the money supply is through fiscal policy.

Accepted Answer

A) True 
 B)False  False

Question 2

Compare and contrast entitlement and means-tested social welfare programs,providing examples of each.Which programs are more popular with the public? Why is this so? Which type of program do you believe has had a more positive effect on the economy? Why?

Accepted Answer

An ideal response will:
1.Define both terms.Means-tested social welfare programs provide benefits only to people who qualify for them based on specific needs.In contrast,entitlement programs provide benefits to individuals without regard to need.
2.Provide examples of means-tested programs (Medicaid,food stamps,SSI,TANF,and CHIP)and entitlement programs (Social Security,Medicare,and unemployment insurance).
3.Determine that because entitlement programs provide benefits to everyone,they are generally more popular with the public than means-tested programs.
4.Evaluate which programs are most useful for the national economy.Although all of these programs benefit a capitalist economy by allowing consumers to buy more goods and services,assess one set of programs as having more of an influence than the other.

Question 3

Which of the following contributes to the unpopularity of welfare programs in the United States?

Accepted Answer

A)  Americans are generally uncompassionate. 
B)  Americans tend to think that U.S. welfare programs are not generous enough. 
C)  Many Americans believe that access to welfare benefits contributes to the flood of immigrants. 
D)  Welfare programs tend to increase inflation and decrease exports. 
A)  Americans are generally uncompassionate. 
B)  Americans tend to think that U.S. welfare programs are not generous enough. 
C)  Many Americans believe that access to welfare benefits contributes to the flood of immigrants. 
D)  Welfare programs tend to increase inflation and decrease exports. C

Question 4

Medicare is an entitlement program.

Accepted Answer

A) True 
 B)False

Question 5

What is a government program called that provides benefits only to individuals who qualify based on specific needs?

Accepted Answer

A)  an economic stimulus program 
B)  a regulatory program 
C)  a discretionary program 
D)  a means-tested program 
A)  an economic stimulus program 
B)  a regulatory program 
C)  a discretionary program 
D)  a means-tested program

Question 6

Tax cuts are a key tool of the __________ economic approach.

Accepted Answer

The answer of Tax cuts are a key tool of...

Question 7

Who is primarily responsible for making monetary policy in the United States?

Accepted Answer

A)  Congress 
B)  the president 
C)  the Department of the Treasury 
D)  the Federal Reserve Board 
A)  Congress 
B)  the president 
C)  the Department of the Treasury 
D)  the Federal Reserve Board

Question 8

Discuss the two major economic worries faced by members of Congress: unemployment and inflation.What options are available to address them?

Accepted Answer

An ideal response will:
1.Discuss the tw

Question 9

What can the consumer price index measure?

Accepted Answer

A)  income distribution 
B)  the gross national product 
C)  inflation 
D)  money supply 
A)  income distribution 
B)  the gross national product 
C)  inflation 
D)  money supply

Question 10

The number of people living in poverty has steadily decreased since the establishment of Temporary Assistance for Needy Families in 1996.

Accepted Answer

A) True 
 B)False

Question 11

Which of these is most consistent with the philosophy of Keynesianism?

Accepted Answer

A)  interest rate increases by the Federal Reserve Board 
B)  congressional action to pay off some of its debt 
C)  a decision by the Federal Reserve Board to increase the money supply 
D)  increased spending by Congress for roads, bridges, and other infrastructure 
A)  interest rate increases by the Federal Reserve Board 
B)  congressional action to pay off some of its debt 
C)  a decision by the Federal Reserve Board to increase the money supply 
D)  increased spending by Congress for roads, bridges, and other infrastructure

Question 12

Which of the following is true about Social Security?

Accepted Answer

A)  It makes transfer payments. 
B)  It is considered a means-tested program. 
C)  It is not available to the wealthy. 
D)  It is entirely supported by property taxes. 
A)  It makes transfer payments. 
B)  It is considered a means-tested program. 
C)  It is not available to the wealthy. 
D)  It is entirely supported by property taxes.

Question 13

Which group has the highest poverty rate?

Accepted Answer

A)  children under 18 
B)  Hispanics 
C)  central-city residents 
D)  unmarried women 
A)  children under 18 
B)  Hispanics 
C)  central-city residents 
D)  unmarried women

Question 14

What is the source of money in the Social Security Trust Fund?

Accepted Answer

A)  sales taxes 
B)  payroll taxes 
C)  property taxes 
D)  income taxes 
A)  sales taxes 
B)  payroll taxes 
C)  property taxes 
D)  income taxes

Question 15

What federal program is designed to provide medical insurance for the very poor in the United States?

Accepted Answer

A)  Medicaid 
B)  Medicare Part A 
C)  Medicare Part B 
D)  Obamacare 
A)  Medicaid 
B)  Medicare Part A 
C)  Medicare Part B 
D)  Obamacare

Question 16

Increasing inequality in the distribution of income can contribute to a situation known as __________,which is becoming more common in America.

Accepted Answer

A)  the complacency of dependency 
B)  recessive economics 
C)  regressive politics 
D)  relative deprivation 
A)  the complacency of dependency 
B)  recessive economics 
C)  regressive politics 
D)  relative deprivation

Question 17

Inflation is best understood as the rate at which __________.

Accepted Answer

A)  gross domestic product expands 
B)  the money supply expands 
C)  prices for goods and services increase 
D)  the federal government increases taxes 
A)  gross domestic product expands 
B)  the money supply expands 
C)  prices for goods and services increase 
D)  the federal government increases taxes

Question 18

A main goal of fiscal policy is to __________.

Accepted Answer

A)  affect how much money is available to foreign governments for investment 
B)  use taxes and government spending to help stimulate or slow down the economy 
C)  determine how much interest the government will pay on the federal debt 
D)  stimulate the economy by increasing the number of imports into the United States 
A)  affect how much money is available to foreign governments for investment 
B)  use taxes and government spending to help stimulate or slow down the economy 
C)  determine how much interest the government will pay on the federal debt 
D)  stimulate the economy by increasing the number of imports into the United States

Question 19

How accurate were President Obama's predictions of the impact of the 2009 stimulus plan?

Accepted Answer

A)  Extremely accurate; the unemployment rate dropped as expected. 
B)  Fairly accurate; the unemployment rate dropped to the level expected, but it took a bit longer than predicted. 
C)  Somewhat accurate; unemployment peaked at a much higher rate than expected, but it decreased to predicted rates by the time of the 2012 elections. 
D)  Extremely inaccurate; unemployment peaked at a much higher rate than expected, it decreased much more slowly than predicted, and it still hasn't reached the rate that was predicted. 
A)  Extremely accurate; the unemployment rate dropped as expected. 
B)  Fairly accurate; the unemployment rate dropped to the level expected, but it took a bit longer than predicted. 
C)  Somewhat accurate; unemployment peaked at a much higher rate than expected, but it decreased to predicted rates by the time of the 2012 elections. 
D)  Extremely inaccurate; unemployment peaked at a much higher rate than expected, it decreased much more slowly than predicted, and it still hasn't reached the rate that was predicted.

Question 20

What is one of the problems with using official poverty counts?

Accepted Answer

A)  The formula is based on food costs, which have declined relative to other expenses. 
B)  They tend to underestimate the number of children who live in poverty. 
C)  They tend to exaggerate the number of women who live in poverty. 
D)  They tend to overestimate the amount of people in poverty. 
A)  The formula is based on food costs, which have declined relative to other expenses. 
B)  They tend to underestimate the number of children who live in poverty. 
C)  They tend to exaggerate the number of women who live in poverty. 
D)  They tend to overestimate the amount of people in poverty.

The best way to influence the money supply is through fiscal policy.

Compare and contrast entitlement and means-tested social welfare programs,providing examples of each.Which programs are more popular with the public? Why is this so? Which type of program do you believe has had a more positive effect on the economy? Why?

Which of the following contributes to the unpopularity of welfare programs in the United States?

Medicare is an entitlement program.

What is a government program called that provides benefits only to individuals who qualify based on specific needs?

Tax cuts are a key tool of the __________ economic approach.

Who is primarily responsible for making monetary policy in the United States?

Discuss the two major economic worries faced by members of Congress: unemployment and inflation.What options are available to address them?

What can the consumer price index measure?

The number of people living in poverty has steadily decreased since the establishment of Temporary Assistance for Needy Families in 1996.

Which of these is most consistent with the philosophy of Keynesianism?

Which of the following is true about Social Security?

Which group has the highest poverty rate?

What is the source of money in the Social Security Trust Fund?

What federal program is designed to provide medical insurance for the very poor in the United States?

Increasing inequality in the distribution of income can contribute to a situation known as __________,which is becoming more common in America.

Inflation is best understood as the rate at which __________.

A main goal of fiscal policy is to __________.

How accurate were President Obama's predictions of the impact of the 2009 stimulus plan?

What is one of the problems with using official poverty counts?

Introducing Government in America

The Constitution

Federalism

Civil Liberties and Public Policy

Civil Rights and Public Policy

Public Opinion and Political Action

The Mass Media and the Political Agenda

Political Parties

Campaigns and Voting Behavior

Interest Groups

Congress

The Presidency

The Budget: The Politics of Taxing and Spending

The Federal Bureaucracy

The Federal Courts

Understanding Health Care, Environmental, and Energy Policy

National Security Policymaking

Filters

Exam 16: Economic and Social Welfare Policymaking

The best way to influence the money supply is through fiscal policy.

Compare and contrast entitlement and means-tested social welfare programs,providing examples of each.Which programs are more popular with the public? Why is this so? Which type of program do you believe has had a more positive effect on the economy? Why?

Which of the following contributes to the unpopularity of welfare programs in the United States?

Medicare is an entitlement program.

What is a government program called that provides benefits only to individuals who qualify based on specific needs?

Tax cuts are a key tool of the __________ economic approach.

Who is primarily responsible for making monetary policy in the United States?

Discuss the two major economic worries faced by members of Congress: unemployment and inflation.What options are available to address them?

What can the consumer price index measure?

The number of people living in poverty has steadily decreased since the establishment of Temporary Assistance for Needy Families in 1996.

Which of these is most consistent with the philosophy of Keynesianism?

Which of the following is true about Social Security?

Which group has the highest poverty rate?

What is the source of money in the Social Security Trust Fund?

What federal program is designed to provide medical insurance for the very poor in the United States?

Increasing inequality in the distribution of income can contribute to a situation known as __________,which is becoming more common in America.

Inflation is best understood as the rate at which __________.

A main goal of fiscal policy is to __________.

How accurate were President Obama's predictions of the impact of the 2009 stimulus plan?

What is one of the problems with using official poverty counts?

Introducing Government in America

The Constitution

Federalism

Civil Liberties and Public Policy

Civil Rights and Public Policy

Public Opinion and Political Action

The Mass Media and the Political Agenda

Political Parties

Campaigns and Voting Behavior

Interest Groups

Congress

The Presidency

The Budget: The Politics of Taxing and Spending

The Federal Bureaucracy

The Federal Courts

Understanding Health Care, Environmental, and Energy Policy

National Security Policymaking

Filters