Question 1

If you support laissez-faire economic policies,you would generally favor __________.

Accepted Answer

A)  a reduction in the amount of economic regulation by the government 
B)  an increase in the level of taxes assessed by state governments 
C)  an increase in the collective bargaining rights for labor unions 
D)  an increase in the tariffs assessed on goods imported into the United States 
A)  a reduction in the amount of economic regulation by the government 
B)  an increase in the level of taxes assessed by state governments 
C)  an increase in the collective bargaining rights for labor unions 
D)  an increase in the tariffs assessed on goods imported into the United States A

Question 2

If the Federal Reserve wanted to slow the rate of economic growth,it would most likely __________.

Accepted Answer

A)  lower the discount rate 
B)  increase the discount rate 
C)  encourage the president to lower taxes 
D)  increase the unemployment rate 
A)  lower the discount rate 
B)  increase the discount rate 
C)  encourage the president to lower taxes 
D)  increase the unemployment rate B

Question 3

The largest number of Americans benefit from which means-tested income security program?

Accepted Answer

A)  Social Security 
B)  Supplemental Nutrition Assistance Program 
C)  Supplemental Security Income 
D)  Temporary Assistance for Needy Families 
A)  Social Security 
B)  Supplemental Nutrition Assistance Program 
C)  Supplemental Security Income 
D)  Temporary Assistance for Needy Families B

Question 4

What income security programs does the United States have? How do these programs work? Assess whether each of these programs should be revised.

Accepted Answer

An ideal response will:
1.Describe how t

Question 5

Which of the following is true with respect to Keynesian economic policy?

Accepted Answer

A)  Keynesian economic policy relies on government taxes and adjustments to the money supply to control inflation and unemployment. 
B)  Keynesian economic policy relies on tax cuts and expenditure increases by government to control inflation and unemployment. 
C)  Keynesian economic policy uses the money supply to control inflation and unemployment. 
D)  Keynesian economic policy relies on the generosity of private charities to address the worst effects of economic downturns. 
A)  Keynesian economic policy relies on government taxes and adjustments to the money supply to control inflation and unemployment. 
B)  Keynesian economic policy relies on tax cuts and expenditure increases by government to control inflation and unemployment. 
C)  Keynesian economic policy uses the money supply to control inflation and unemployment. 
D)  Keynesian economic policy relies on the generosity of private charities to address the worst effects of economic downturns.

Question 6

__________ is a reduction in market controls in favor of market-based competition.

Accepted Answer

The answer of __________ is a reduction in market controls...

Question 7

If the Federal Reserve Board needed to curb inflation,it would most likely __________.

Accepted Answer

A)  raise taxes 
B)  lower taxes 
C)  increase government spending 
D)  raise the discount rate 
A)  raise taxes 
B)  lower taxes 
C)  increase government spending 
D)  raise the discount rate

Question 8

The federal government relies on a(n)__________ tax paid by employers to fund unemployment insurance.

Accepted Answer

The answer of The federal government relies on a(n)__________ tax...

Question 9

Discuss the differences in philosophy,key actors,and tools of fiscal and monetary policy.Should the federal government give preference to one or the other? Why or why not?

Accepted Answer

An ideal response will:
1.Discuss the di

Question 10

What are the proposed benefits of deregulation,and who in general supports this position?

Accepted Answer

An ideal response will:
1.Define deregul

Question 11

The primary purpose of the Troubled Assets Relief Program (TARP)was to __________.

Accepted Answer

A)  bail out the auto industry 
B)  bail out the banking sector 
C)  reduce the annual budget deficit 
D)  respond to rising unemployment 
A)  bail out the auto industry 
B)  bail out the banking sector 
C)  reduce the annual budget deficit 
D)  respond to rising unemployment

Question 12

If a government wanted to use monetary policy to increase economic growth,which of the following steps should be taken?

Accepted Answer

A)  Decrease the discount rate to increase the amount of money in supply. 
B)  Increase the amount of foreign currency kept on reserve in U.S. banks. 
C)  Increase the amount of public revenue available for investment by raising taxes. 
D)  Increase the government spending on public works projects. 
A)  Decrease the discount rate to increase the amount of money in supply. 
B)  Increase the amount of foreign currency kept on reserve in U.S. banks. 
C)  Increase the amount of public revenue available for investment by raising taxes. 
D)  Increase the government spending on public works projects.

Question 13

In responding to the 2008 recession,the federal government relied solely on fiscal policy to restart economic growth.

Accepted Answer

A) True 
 B)False

Question 14

What is the difference between budget deficits and the national debt? Assess which is harder to overcome.

Accepted Answer

An ideal response will:
1.Define a budge

Question 15

Deregulation of which of the following industries was a major contributor to the collapse of the subprime mortgage industry?

Accepted Answer

A)  the airline industry 
B)  the energy industry 
C)  the banking industry 
D)  the medical technology industry 
A)  the airline industry 
B)  the energy industry 
C)  the banking industry 
D)  the medical technology industry

Question 16

Which of the following is a major reason for government regulation of the economy?

Accepted Answer

A)  to increase the overall level of taxes paid by producers in the economy 
B)  to increase the general level of educational attainment 
C)  to eliminate the costs of doing business for corporations 
D)  to promote economic development 
A)  to increase the overall level of taxes paid by producers in the economy 
B)  to increase the general level of educational attainment 
C)  to eliminate the costs of doing business for corporations 
D)  to promote economic development

Question 17

Laissez-faire economics holds which of the following to be true?

Accepted Answer

A)  The government should raise interest rates during a recession. 
B)  The government should not take an active role in the economy. 
C)  The government should do everything possible to reduce unemployment. 
D)  The government should lower interest rates during a recession. 
A)  The government should raise interest rates during a recession. 
B)  The government should not take an active role in the economy. 
C)  The government should do everything possible to reduce unemployment. 
D)  The government should lower interest rates during a recession.

Question 18

In 1913,Congress created the __________ to regulate the national banking system and provide for flexibility in the money supply.

Accepted Answer

Federal Re

Question 19

The U.S.Constitution prohibits the use of taxing and spending to influence the national economy.

Accepted Answer

A) True 
 B)False

Question 20

What is a means-tested program?

Accepted Answer

A)  a program that extends benefits based on your age at retirement 
B)  a program that provides benefits based on demonstrated need 
C)  a program that extends benefits mostly to those who passed a skills-based test 
D)  a program that provides benefits based on lifetime contributions 
A)  a program that extends benefits based on your age at retirement 
B)  a program that provides benefits based on demonstrated need 
C)  a program that extends benefits mostly to those who passed a skills-based test 
D)  a program that provides benefits based on lifetime contributions

If you support laissez-faire economic policies,you would generally favor __________.

If the Federal Reserve wanted to slow the rate of economic growth,it would most likely __________.

The largest number of Americans benefit from which means-tested income security program?

What income security programs does the United States have? How do these programs work? Assess whether each of these programs should be revised.

Which of the following is true with respect to Keynesian economic policy?

__________ is a reduction in market controls in favor of market-based competition.

If the Federal Reserve Board needed to curb inflation,it would most likely __________.

The federal government relies on a(n)__________ tax paid by employers to fund unemployment insurance.

Discuss the differences in philosophy,key actors,and tools of fiscal and monetary policy.Should the federal government give preference to one or the other? Why or why not?

What are the proposed benefits of deregulation,and who in general supports this position?

The primary purpose of the Troubled Assets Relief Program (TARP)was to __________.

If a government wanted to use monetary policy to increase economic growth,which of the following steps should be taken?

In responding to the 2008 recession,the federal government relied solely on fiscal policy to restart economic growth.

What is the difference between budget deficits and the national debt? Assess which is harder to overcome.

Deregulation of which of the following industries was a major contributor to the collapse of the subprime mortgage industry?

Which of the following is a major reason for government regulation of the economy?

Laissez-faire economics holds which of the following to be true?

In 1913,Congress created the __________ to regulate the national banking system and provide for flexibility in the money supply.

The U.S.Constitution prohibits the use of taxing and spending to influence the national economy.

What is a means-tested program?

American Government: Roots, context, and Culture

The Constitution

The Federal System

Civil Liberties

Civil Rights

Congress

The Presidency

The Executive Branch and the Federal Bureaucracy

The Judiciary

Public Opinion and Political Socialization

Political Parties

Elections and Voting

The Campaign Process

The News Media

Interest Groups

Domestic Policy

Foreign and Defense Policy

Filters

Exam 17: Economic Policy

If you support laissez-faire economic policies,you would generally favor __________.

If the Federal Reserve wanted to slow the rate of economic growth,it would most likely __________.

The largest number of Americans benefit from which means-tested income security program?

What income security programs does the United States have? How do these programs work? Assess whether each of these programs should be revised.

Which of the following is true with respect to Keynesian economic policy?

__________ is a reduction in market controls in favor of market-based competition.

If the Federal Reserve Board needed to curb inflation,it would most likely __________.

The federal government relies on a(n)__________ tax paid by employers to fund unemployment insurance.

Discuss the differences in philosophy,key actors,and tools of fiscal and monetary policy.Should the federal government give preference to one or the other? Why or why not?

What are the proposed benefits of deregulation,and who in general supports this position?

The primary purpose of the Troubled Assets Relief Program (TARP)was to __________.

If a government wanted to use monetary policy to increase economic growth,which of the following steps should be taken?

In responding to the 2008 recession,the federal government relied solely on fiscal policy to restart economic growth.

What is the difference between budget deficits and the national debt? Assess which is harder to overcome.

Deregulation of which of the following industries was a major contributor to the collapse of the subprime mortgage industry?

Which of the following is a major reason for government regulation of the economy?

Laissez-faire economics holds which of the following to be true?

In 1913,Congress created the __________ to regulate the national banking system and provide for flexibility in the money supply.

The U.S.Constitution prohibits the use of taxing and spending to influence the national economy.

What is a means-tested program?

American Government: Roots, context, and Culture

The Constitution

The Federal System

Civil Liberties

Civil Rights

Congress

The Presidency

The Executive Branch and the Federal Bureaucracy

The Judiciary

Public Opinion and Political Socialization

Political Parties

Elections and Voting

The Campaign Process

The News Media

Interest Groups

Domestic Policy

Foreign and Defense Policy

Filters