Exam 17: Economic Policy

Keynesians would likely approve of the recent government stimulus package passed by Congress to deal with the recent economic crisis.

Deregulation of the banking industry contributed to the collapse of the mortgage industry,which contributed to the economic downturn that began in 2008.

Social Security is a pension program that collects and invests contributions from workers and then returns these funds with interest to retirees.

What is fiscal policy?

Which of the following is true regarding mandatory government spending policies?

Social Security is a(n)__________ program because it provides benefits to all qualifying individuals.

The national debt is the yearly difference between government revenues and the deficit.

Since the economic crisis that began in 2008,the national debt has gradually declined.

What is the legacy of the Progressive era and the New Deal with respect to American economic policy?

Which of the following is a possible solution to the problem of long-term solvency in the Social Security program?

All U.S.citizens are guaranteed to receive Medicaid when they retire,regardless of their level of income.

In a(n)__________ state,the government takes an active role in guiding and regulating the private economy.

In 2008,Congress passed __________ to help stabilize banks and the financial industry.

Social Security is an entitlement program.

Which of the following constitutes the largest portion of the federal budget?

What do economists use gross domestic product to measure?

The two primary tools of monetary policy are regulating the nation's supply of money and setting the __________.

Supplemental Security Income is available to illegal immigrants.

In general,a recession does which of these?

Keynesian economic policies promote deficit spending in order to reduce __________ and stimulate the economy.