Question 1

Which of the following is a classification of public policy??

Accepted Answer

A)  Regulatory 
B)  Distributive 
C)  Marxism 
D)  Redistributive 
E)  A, B, and D 
A)  Regulatory 
B)  Distributive 
C)  Marxism 
D)  Redistributive 
E)  A, B, and D E

Question 2

_________ theorists believe that public policies are made by the leaders of powerful institutions.

Accepted Answer

A)  Elite 
B)  Pluralist 
C)  Marxist 
D)  Capitalist 
E)  Group 
A)  Elite 
B)  Pluralist 
C)  Marxist 
D)  Capitalist 
E)  Group A

Question 3

Why deregulate?

Accepted Answer

Many feel excessive regulation forces inefficient practices on American companies, hastening the decline of the United States in the world economy.

Question 4

Economists have identified a classic trade-off problem between

Accepted Answer

A)  economic growth and unemployment. 
B)  economic growth and low inflation. 
C)  high interest rates and low inflation. 
D)  economic recession and low inflation. 
E)  stock market profits and unemployment. 
A)  economic growth and unemployment. 
B)  economic growth and low inflation. 
C)  high interest rates and low inflation. 
D)  economic recession and low inflation. 
E)  stock market profits and unemployment.

Question 5

Being "captured" is

Accepted Answer

A)  synonymous with being heavily influenced by those businesses an agency is supposed to regulate. 
B)  what happens when Congress rejects the president's budget. 
C)  what happens when the president gets his budget through Congress. 
D)  when the bureaucracy regulates industry. 
E)  None of the above 
A)  synonymous with being heavily influenced by those businesses an agency is supposed to regulate. 
B)  what happens when Congress rejects the president's budget. 
C)  what happens when the president gets his budget through Congress. 
D)  when the bureaucracy regulates industry. 
E)  None of the above

Question 6

An example of regulatory policy is

Accepted Answer

A)  monetary policy. 
B)  drug safety. 
C)  tax cut policy. 
D)  national defense. 
E)  social insurance policy. 
A)  monetary policy. 
B)  drug safety. 
C)  tax cut policy. 
D)  national defense. 
E)  social insurance policy.

Question 7

Nearly half the nation's budget for discretionary spending (48 percent) goes to social welfare programs.

Accepted Answer

A) True 
 B)False

Question 8

The federal government spends most of its money on

Accepted Answer

A)  social insurance. 
B)  means-tested programs. 
C)  Medicare. 
D)  entitlement programs. 
E)  national defense. 
A)  social insurance. 
B)  means-tested programs. 
C)  Medicare. 
D)  entitlement programs. 
E)  national defense.

Question 9

Which commodity rose significantly in price and was a major factor in the economic downturn of 2007 and 2008?

Accepted Answer

The answer of Which commodity rose significantly in price and...

Question 10

Imagine that you are a politician and want to run on a platform to improve the economy. You can either choose to regulate the economy or deregulate it? Which would you choose and why, including two benefits and two costs of each.

Accepted Answer

As a politician running on a platform to

Question 11

How is the "balance of payments" defined?

Accepted Answer

A)  The annual difference between payments and receipts between a country and its trading partners. 
B)  The positive and negative effects of economic activities on third parties. 
C)  The amount by which annual government expenditures exceed revenues. 
D)  The total outstanding debt of the federal government. 
E)  The sum total of all annual budget deficits and surpluses. 
A)  The annual difference between payments and receipts between a country and its trading partners. 
B)  The positive and negative effects of economic activities on third parties. 
C)  The amount by which annual government expenditures exceed revenues. 
D)  The total outstanding debt of the federal government. 
E)  The sum total of all annual budget deficits and surpluses.

Question 12

What is the primary source of discretionary spending in the federal budget?

Accepted Answer

Defense, amounting t

Question 13

The federal budget deficit is

Accepted Answer

A)  the total of what government owes to individuals and institutions. 
B)  the annual shortfall between what the government spends and what it takes in. 
C)  the rate of interest that government must pay on short-term financial obligations. 
D)  the measure of efficiency and fairness that is built into the tax code. 
E)  the annual difference between payments and receipts between a country and its trading partners. 
A)  the total of what government owes to individuals and institutions. 
B)  the annual shortfall between what the government spends and what it takes in. 
C)  the rate of interest that government must pay on short-term financial obligations. 
D)  the measure of efficiency and fairness that is built into the tax code. 
E)  the annual difference between payments and receipts between a country and its trading partners.

Question 14

Local governments depend most heavily on

Accepted Answer

A)  property taxes. 
B)  sales taxes. 
C)  personal income taxes. 
D)  corporate taxes. 
E)  investment. 
A)  property taxes. 
B)  sales taxes. 
C)  personal income taxes. 
D)  corporate taxes. 
E)  investment.

Question 15

The biggest increases in federal government spending are associated with

Accepted Answer

A)  the New Deal. 
B)  the War on Poverty. 
C)  major wars. 
D)  public assistance. 
E)  economic recessions. 
A)  the New Deal. 
B)  the War on Poverty. 
C)  major wars. 
D)  public assistance. 
E)  economic recessions.

Question 16

The amount by which annual government expenditures exceed revenues is the

Accepted Answer

A)  budget deficit. 
B)  national debt. 
C)  supplemental appropriation. 
D)  gross domestic product (GDP). 
E)  negative externality. 
A)  budget deficit. 
B)  national debt. 
C)  supplemental appropriation. 
D)  gross domestic product (GDP). 
E)  negative externality.

Question 17

New growth theory is most likely to be supported by labor unions.

Accepted Answer

A) True 
 B)False

Question 18

Which of these is NOT a goal for government officials who are changing macroeconomic policy?

Accepted Answer

A)  Managing fiscal policy. 
B)  Managing monetary policy. 
C)  Adjusting the money supply. 
D)  Adjusting government spending. 
E)  None of the above is correct because all of these are goals of government officials creating macroeconomic policy. 
A)  Managing fiscal policy. 
B)  Managing monetary policy. 
C)  Adjusting the money supply. 
D)  Adjusting government spending. 
E)  None of the above is correct because all of these are goals of government officials creating macroeconomic policy.

Question 19

Congress is in charge of the Office of Management and Budget.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following are important governmental factors associated with economic policy?

Accepted Answer

A)  The president 
B)  Congress 
C)  Federal Reserve Board 
D)  Media 
E)  A, B, and C 
A)  The president 
B)  Congress 
C)  Federal Reserve Board 
D)  Media 
E)  A, B, and C

Which of the following is a classification of public policy??

_________ theorists believe that public policies are made by the leaders of powerful institutions.

Why deregulate?

Economists have identified a classic trade-off problem between

Being "captured" is

An example of regulatory policy is

Nearly half the nation's budget for discretionary spending (48 percent) goes to social welfare programs.

The federal government spends most of its money on

Which commodity rose significantly in price and was a major factor in the economic downturn of 2007 and 2008?

Imagine that you are a politician and want to run on a platform to improve the economy. You can either choose to regulate the economy or deregulate it? Which would you choose and why, including two benefits and two costs of each.

How is the "balance of payments" defined?

What is the primary source of discretionary spending in the federal budget?

The federal budget deficit is

Local governments depend most heavily on

The biggest increases in federal government spending are associated with

The amount by which annual government expenditures exceed revenues is the

New growth theory is most likely to be supported by labor unions.

Which of these is NOT a goal for government officials who are changing macroeconomic policy?

Congress is in charge of the Office of Management and Budget.

Which of the following are important governmental factors associated with economic policy?

Democracy and American Politics

The Constitution

Federalism States and Nations

Structural Foundations of the American Government

Public Opinion

News Media

Interest Groups and Business Corporations

Social Movements

Political Parties

Participation Voting, and Elections

Congress

The President

The Executive Branch

The Courts

Freedom: the Struggle for Civil Liberties

Civil Rights: the Struggle for Political Equality

Social Safety Nets

Foreign Policy and National Defense

Filters

Exam 17: The Budget and Economic Policies

Which of the following is a classification of public policy??

_________ theorists believe that public policies are made by the leaders of powerful institutions.

Why deregulate?

Economists have identified a classic trade-off problem between

Being "captured" is

An example of regulatory policy is

Nearly half the nation's budget for discretionary spending (48 percent) goes to social welfare programs.

The federal government spends most of its money on

Which commodity rose significantly in price and was a major factor in the economic downturn of 2007 and 2008?

Imagine that you are a politician and want to run on a platform to improve the economy. You can either choose to regulate the economy or deregulate it? Which would you choose and why, including two benefits and two costs of each.

How is the "balance of payments" defined?

What is the primary source of discretionary spending in the federal budget?

The federal budget deficit is

Local governments depend most heavily on

The biggest increases in federal government spending are associated with

The amount by which annual government expenditures exceed revenues is the

New growth theory is most likely to be supported by labor unions.

Which of these is NOT a goal for government officials who are changing macroeconomic policy?

Congress is in charge of the Office of Management and Budget.

Which of the following are important governmental factors associated with economic policy?

Democracy and American Politics

The Constitution

Federalism States and Nations

Structural Foundations of the American Government

Public Opinion

News Media

Interest Groups and Business Corporations

Social Movements

Political Parties

Participation Voting, and Elections

Congress

The President

The Executive Branch

The Courts

Freedom: the Struggle for Civil Liberties

Civil Rights: the Struggle for Political Equality

Social Safety Nets

Foreign Policy and National Defense

Filters