Question 1

One important governmental justification for progressive taxation is​ ____________________.

Accepted Answer

A) ​assisting small businesses 
B) ​promoting equality 
C) ​giving corporations more incentive to hire new employees 
D) ​allowing people to keep more of the income that they earn 
E) ​enhancing national security by enhancing federal revenues 
A) ​assisting small businesses 
B) ​promoting equality 
C) ​giving corporations more incentive to hire new employees 
D) ​allowing people to keep more of the income that they earn 
E) ​enhancing national security by enhancing federal revenues

Question 2

Explain the difference between fiscal policy and monetary policy,and provide some examples of each.

Accepted Answer

Fiscal policy and monetary policy are bo

Question 3

Explain the basic premises of supply-side economics.

Accepted Answer

Supply-side economics is an economic the

Question 4

President __________ embraced supply-side economics.

Accepted Answer

A) Clinton 
B) Carter 
C) Roosevelt 
D) Reagan 
E) None of these choices is true. 
A) Clinton 
B) Carter 
C) Roosevelt 
D) Reagan 
E) None of these choices is true.

Question 5

The business cycle is

Accepted Answer

A) the process of investing and gaining a profit. 
B) the period during which the federal government compiles the budget. 
C) periods of expansion and inflation alternating with periods of contraction and unemployment. 
D) the process of extracting money from the economy through taxes and then returning it through spending. 
E) inflation and recession. 
A) the process of investing and gaining a profit. 
B) the period during which the federal government compiles the budget. 
C) periods of expansion and inflation alternating with periods of contraction and unemployment. 
D) the process of extracting money from the economy through taxes and then returning it through spending. 
E) inflation and recession.

Question 6

The __________ Amendment empowered the national government to collect taxes on income.

Accepted Answer

A) ​Sixteenth 
B) ​Nineteenth 
C) ​Twenty-first 
D) ​Twenty-sixth 
E) ​Twenty-eighth 
A) ​Sixteenth 
B) ​Nineteenth 
C) ​Twenty-first 
D) ​Twenty-sixth 
E) ​Twenty-eighth

Question 7

The __________ supervises the development of the president's budget.

Accepted Answer

A) Council of Economic Advisers 
B) comptroller general 
C) Federal Reserve Board 
D) Office of Management and Budget (OM
B)  
E) Budget Control Board 
A) Council of Economic Advisers 
B) comptroller general 
C) Federal Reserve Board 
D) Office of Management and Budget (OM
B)  
E) Budget Control Board

Question 8

If government cuts taxes to encourage people to spend more money in order to stimulate economic growth,it is using

Accepted Answer

A) business cycling. 
B) fiscal policy. 
C) monetary policy. 
D) pro-growth economics. 
E) public income reductions. 
A) business cycling. 
B) fiscal policy. 
C) monetary policy. 
D) pro-growth economics. 
E) public income reductions.

Question 9

In 2013 the U.S national debt was roughly equivalent to _________ per person.

Accepted Answer

A) $23,000 
B) $53,000 
C) $93,000 
D) $163,000 
E) $323,000 
A) $23,000 
B) $53,000 
C) $93,000 
D) $163,000 
E) $323,000

Question 10

By April 2014,the total national debt was about __________ trillion dollars.

Accepted Answer

A) 1.1 
B) 4.9 
C) 12.3 
D) 17.5 
E) 22.4 
A) 1.1 
B) 4.9 
C) 12.3 
D) 17.5 
E) 22.4

Question 11

Laissez-faire thought today is often compared as similar to

Accepted Answer

A) John Maynard Keynes and his demand-side economics. 
B) Karl Marx's communism. 
C) the inefficient market hypothesis. 
D) monetary policy. 
E) Friedrich Hayek and the "Austrian School" of economics. 
A) John Maynard Keynes and his demand-side economics. 
B) Karl Marx's communism. 
C) the inefficient market hypothesis. 
D) monetary policy. 
E) Friedrich Hayek and the "Austrian School" of economics.

Question 12

Discuss some of the reasons that America's system of taxation does not do more to promote economic equality.​

Accepted Answer

There are several reasons why America's

Question 13

The U.S.Fiscal Year 2015 budget submitted by President Obama reflected expended federal government spending of approximately _________ dollars.

Accepted Answer

A) 998 billion 
B) 1,576 billion 
C) 3,901 billion 
D) 6,427 billion 
E) 1.2 trillion 
A) 998 billion 
B) 1,576 billion 
C) 3,901 billion 
D) 6,427 billion 
E) 1.2 trillion

Question 14

One famous monetarist theorist is Nobel Laureate

Accepted Answer

A) John Maynard Keynes. 
B) Friedrich Hayek. 
C) Karl Marx. 
D) Alan Greenspan. 
E) Milton Friedman. 
A) John Maynard Keynes. 
B) Friedrich Hayek. 
C) Karl Marx. 
D) Alan Greenspan. 
E) Milton Friedman.

Question 15

Describe the process through which the U.S.budget is developed and passed.​

Accepted Answer

The process through which the U.S. budge

Question 16

Because everyone pays the same rate of sales tax on purchases,and less wealthy people spend most of their income buying things,as opposed to saving and investing​,the sales tax has a ___________ impact.

Accepted Answer

A) ​pluralist 
B) regressive 
C) ​​discretionary 
D) ​positive 
E) ​​progressive 
A) ​pluralist 
B) regressive 
C) ​​discretionary 
D) ​positive 
E) ​​progressive

Question 17

International affairs,including "foreign aid" and the budget of the State Department and embassies and consulates in other countries,consume _________ percent of the FY 2015 budget.

Accepted Answer

A) ​under 1.5 
B) ​about 4 
C) ​just under 10 
D) ​about 15 
E) ​just over 20 
A) ​under 1.5 
B) ​about 4 
C) ​just under 10 
D) ​about 15 
E) ​just over 20

Question 18

A tax where the rich pay proportionately higher taxes as a share of their income than the poor is also known as a(n)

Accepted Answer

A) regressive tax. 
B) payroll tax. 
C) flat tax. 
D) progressive tax. 
E) decoupled tax. 
A) regressive tax. 
B) payroll tax. 
C) flat tax. 
D) progressive tax. 
E) decoupled tax.

Question 19

The total federal tax burden on U.S.citizens __________ the 1950s.

Accepted Answer

A) has increased slightly since 
B) has increased dramatically since 
C) has stayed about the same since 
D) has actually decreased since 
E) is impossible to directly compare to 
A) has increased slightly since 
B) has increased dramatically since 
C) has stayed about the same since 
D) has actually decreased since 
E) is impossible to directly compare to

Question 20

Describe the difference between budget authority and budget outlays,and give an example of a federal budget outlay.

Accepted Answer

Budget authority refers to the legal aut

One important governmental justification for progressive taxation is ____________________.

Explain the difference between fiscal policy and monetary policy,and provide some examples of each.

Explain the basic premises of supply-side economics.

President __________ embraced supply-side economics.

The business cycle is

The __________ Amendment empowered the national government to collect taxes on income.

The __________ supervises the development of the president's budget.

If government cuts taxes to encourage people to spend more money in order to stimulate economic growth,it is using

In 2013 the U.S national debt was roughly equivalent to _________ per person.

By April 2014,the total national debt was about __________ trillion dollars.

Laissez-faire thought today is often compared as similar to

Discuss some of the reasons that America's system of taxation does not do more to promote economic equality.

The U.S.Fiscal Year 2015 budget submitted by President Obama reflected expended federal government spending of approximately _________ dollars.

One famous monetarist theorist is Nobel Laureate

Describe the process through which the U.S.budget is developed and passed.

Because everyone pays the same rate of sales tax on purchases,and less wealthy people spend most of their income buying things,as opposed to saving and investing,the sales tax has a ___________ impact.

International affairs,including "foreign aid" and the budget of the State Department and embassies and consulates in other countries,consume _________ percent of the FY 2015 budget.

A tax where the rich pay proportionately higher taxes as a share of their income than the poor is also known as a(n)

The total federal tax burden on U.S.citizens __________ the 1950s.

Describe the difference between budget authority and budget outlays,and give an example of a federal budget outlay.

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

Exam 17: Economic Policy

One important governmental justification for progressive taxation is​ ____________________.

Explain the difference between fiscal policy and monetary policy,and provide some examples of each.

Explain the basic premises of supply-side economics.

President __________ embraced supply-side economics.

The business cycle is

The __________ Amendment empowered the national government to collect taxes on income.

The __________ supervises the development of the president's budget.

If government cuts taxes to encourage people to spend more money in order to stimulate economic growth,it is using

In 2013 the U.S national debt was roughly equivalent to _________ per person.

By April 2014,the total national debt was about __________ trillion dollars.

Laissez-faire thought today is often compared as similar to

Discuss some of the reasons that America's system of taxation does not do more to promote economic equality.​

The U.S.Fiscal Year 2015 budget submitted by President Obama reflected expended federal government spending of approximately _________ dollars.

One famous monetarist theorist is Nobel Laureate

Describe the process through which the U.S.budget is developed and passed.​

Because everyone pays the same rate of sales tax on purchases,and less wealthy people spend most of their income buying things,as opposed to saving and investing​,the sales tax has a ___________ impact.

International affairs,including "foreign aid" and the budget of the State Department and embassies and consulates in other countries,consume _________ percent of the FY 2015 budget.

A tax where the rich pay proportionately higher taxes as a share of their income than the poor is also known as a(n)

The total federal tax burden on U.S.citizens __________ the 1950s.

Describe the difference between budget authority and budget outlays,and give an example of a federal budget outlay.

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

One important governmental justification for progressive taxation is ____________________.

Discuss some of the reasons that America's system of taxation does not do more to promote economic equality.

Describe the process through which the U.S.budget is developed and passed.

Because everyone pays the same rate of sales tax on purchases,and less wealthy people spend most of their income buying things,as opposed to saving and investing,the sales tax has a ___________ impact.