Question 1

Discuss the tools of fiscal and monetary policy and how they are used to help government reach its economic goals.

Accepted Answer

Fiscal and monetary policy are two impor

Question 2

_______ believe that the economy works best when reins on the free market are loosened.

Accepted Answer

A)  Supply-siders 
B)  Demand-siders 
C)  Monetarists 
D)  Keynsians 
E)  Macroeconomists 
A)  Supply-siders 
B)  Demand-siders 
C)  Monetarists 
D)  Keynsians 
E)  Macroeconomists

Question 3

Which of the following institutions is primarily responsible for monetary policy?

Accepted Answer

A)  Congress 
B)  President 
C)  Courts 
D)  Federal Reserve Board 
E)  Treasury Department 
A)  Congress 
B)  President 
C)  Courts 
D)  Federal Reserve Board 
E)  Treasury Department

Question 4

Group theorists believe that

Accepted Answer

A)  public policies are made by the leaders of powerful institutions. 
B)  public policies are outcomes of the preferences of the dominant capitalist class. 
C)  politics is typically subordinate to economic explanations. 
D)  public policy is the product of the interaction of a vast multitude of interest groups. 
E)  policy is implemented by the bureaucracy. 
A)  public policies are made by the leaders of powerful institutions. 
B)  public policies are outcomes of the preferences of the dominant capitalist class. 
C)  politics is typically subordinate to economic explanations. 
D)  public policy is the product of the interaction of a vast multitude of interest groups. 
E)  policy is implemented by the bureaucracy.

Question 5

The U.S. economy was hurt in 2007 and 2008 by rising oil prices.

Accepted Answer

A) True 
 B)False

Question 6

Most economists believe that recessions are explained by political influences, not the normal business cycle.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is an example of agenda setting??

Accepted Answer

A)  The EPA fines an industry for violating the Clean Air Act. 
B)  The news media addresses an issue in the news that resonates with the public and government. 
C)  Congress passes the yearly budget. 
D)  The president signs a bill at a Rose Garden signing ceremony. 
E)  None of the above 
A)  The EPA fines an industry for violating the Clean Air Act. 
B)  The news media addresses an issue in the news that resonates with the public and government. 
C)  Congress passes the yearly budget. 
D)  The president signs a bill at a Rose Garden signing ceremony. 
E)  None of the above

Question 8

Supply-side economics is often associated with Ronald Reagan's presidency.

Accepted Answer

A) True 
 B)False

Question 9

How does a person get to be a member of the powerful Federal Reserve Board?

Accepted Answer

A)  They are appointed by the president. 
B)  They are appointed by Congress. 
C)  They are elected. 
D)  They must pass merit exams for civil service. 
E)  They are appointed by the majority party. 
A)  They are appointed by the president. 
B)  They are appointed by Congress. 
C)  They are elected. 
D)  They must pass merit exams for civil service. 
E)  They are appointed by the majority party.

Question 10

How have commitments for national defense spending and outlays for human resource programs changed since the last year of the Carter administration (1980)?

Accepted Answer

About 16 percent of federal government e

Question 11

___________ includes all government actions having to do with spending and taxes.

Accepted Answer

A)  Fiscal policy 
B)  Monetary policy 
C)  Macroeconomic policy 
D)  Regulatory policy 
E)  Governmental policy 
A)  Fiscal policy 
B)  Monetary policy 
C)  Macroeconomic policy 
D)  Regulatory policy 
E)  Governmental policy

Question 12

The sum of total yearly federal budget deficits is called the ________.

Accepted Answer

The answer of The sum of total yearly federal budget...

Question 13

The balance of payments is generally unimportant to the federal government.

Accepted Answer

A) True 
 B)False

Question 14

The balance of payments is

Accepted Answer

A)  when people with high incomes pay a higher percentage of their income in taxes than do low-wage earners. 
B)  when all income earners pay the same percentage of their income in taxes. 
C)  when taxes are based on factors other than income, such as tax breaks for the elderly. 
D)  the annual difference between payments and receipts between a country and its trading partners. 
E)  the annual difference between what the government takes in (revenue) and what it spends (expenditures) 
A)  when people with high incomes pay a higher percentage of their income in taxes than do low-wage earners. 
B)  when all income earners pay the same percentage of their income in taxes. 
C)  when taxes are based on factors other than income, such as tax breaks for the elderly. 
D)  the annual difference between payments and receipts between a country and its trading partners. 
E)  the annual difference between what the government takes in (revenue) and what it spends (expenditures)

Question 15

Figure 17.1 shows that

Accepted Answer

A)  Federal spending in absolute dollars has increased over time. 
B)  Federal spending as a percentage of GDP has increased over time. 
C)  Federal spending as a percentage of GDP has remained constant over time. 
D)  Federal spending as a percentage of GDP has declined over time. 
E)  Federal spending is currently at it highest rate since 1900 
A)  Federal spending in absolute dollars has increased over time. 
B)  Federal spending as a percentage of GDP has increased over time. 
C)  Federal spending as a percentage of GDP has remained constant over time. 
D)  Federal spending as a percentage of GDP has declined over time. 
E)  Federal spending is currently at it highest rate since 1900

Question 16

Being "captured" is synonymous with being heavily influenced by those businesses an agency is supposed to regulate.

Accepted Answer

A) True 
 B)False

Question 17

The federal government spent about $2.8 ________ in 2006.

Accepted Answer

The answer of The federal government spent about $2.8 ________...

Question 18

Although its members are appointed by ________, the Federal Reserve Board has a fair amount of autonomy.

Accepted Answer

A)  no one in government 
B)  the Supreme Court 
C)  the president 
D)  Congress 
E)  state legislatures 
A)  no one in government 
B)  the Supreme Court 
C)  the president 
D)  Congress 
E)  state legislatures

Question 19

Which of the following is NOT considered a regulatory agency?

Accepted Answer

A)  The United States Postal Service 
B)  The Equal Opportunity Employment Agency 
C)  The Environmental Protection Agency 
D)  The Food and Drug Administration 
E)  The Securities and Exchange Commission 
A)  The United States Postal Service 
B)  The Equal Opportunity Employment Agency 
C)  The Environmental Protection Agency 
D)  The Food and Drug Administration 
E)  The Securities and Exchange Commission

Question 20

According to your text, which of the following was a governmental response to economic difficulties in 2007 and 2008?

Accepted Answer

A)  A cut in interest rates by the Fed. 
B)  The president and Congress agreed on a stimulus package. 
C)  The president and Congress cut taxes to stimulate economic growth. 
D)  Both A and B 
E)  None of the above 
A)  A cut in interest rates by the Fed. 
B)  The president and Congress agreed on a stimulus package. 
C)  The president and Congress cut taxes to stimulate economic growth. 
D)  Both A and B 
E)  None of the above

Discuss the tools of fiscal and monetary policy and how they are used to help government reach its economic goals.

_______ believe that the economy works best when reins on the free market are loosened.

Which of the following institutions is primarily responsible for monetary policy?

Group theorists believe that

The U.S. economy was hurt in 2007 and 2008 by rising oil prices.

Most economists believe that recessions are explained by political influences, not the normal business cycle.

Which of the following is an example of agenda setting??

Supply-side economics is often associated with Ronald Reagan's presidency.

How does a person get to be a member of the powerful Federal Reserve Board?

How have commitments for national defense spending and outlays for human resource programs changed since the last year of the Carter administration (1980)?

___________ includes all government actions having to do with spending and taxes.

The sum of total yearly federal budget deficits is called the ________.

The balance of payments is generally unimportant to the federal government.

The balance of payments is

Figure 17.1 shows that

Being "captured" is synonymous with being heavily influenced by those businesses an agency is supposed to regulate.

The federal government spent about $2.8 ________ in 2006.

Although its members are appointed by ________, the Federal Reserve Board has a fair amount of autonomy.

Which of the following is NOT considered a regulatory agency?

According to your text, which of the following was a governmental response to economic difficulties in 2007 and 2008?

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

Discuss the tools of fiscal and monetary policy and how they are used to help government reach its economic goals.

_______ believe that the economy works best when reins on the free market are loosened.

Which of the following institutions is primarily responsible for monetary policy?

Group theorists believe that

The U.S. economy was hurt in 2007 and 2008 by rising oil prices.

Most economists believe that recessions are explained by political influences, not the normal business cycle.

Which of the following is an example of agenda setting??

Supply-side economics is often associated with Ronald Reagan's presidency.

How does a person get to be a member of the powerful Federal Reserve Board?

How have commitments for national defense spending and outlays for human resource programs changed since the last year of the Carter administration (1980)?

___________ includes all government actions having to do with spending and taxes.

The sum of total yearly federal budget deficits is called the ________.

The balance of payments is generally unimportant to the federal government.

The balance of payments is

Figure 17.1 shows that

Being "captured" is synonymous with being heavily influenced by those businesses an agency is supposed to regulate.

The federal government spent about $2.8 ________ in 2006.

Although its members are appointed by ________, the Federal Reserve Board has a fair amount of autonomy.

Which of the following is NOT considered a regulatory agency?

According to your text, which of the following was a governmental response to economic difficulties in 2007 and 2008?

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