Exam 15: Political Economy

The economic policies Barack Obama pursued in response to the Great Recession most closely resembled those of __________.

A government attempt to stimulate the economy through increased spending is most likely to have which of these undesirable effects?

Conservatives argue that Johnson's Great Society programs created __________.

Medicaid runs deficits largely because of fraudulent charges.

Suppose a nation creates a brand new welfare program that provides free pre-school for children whose parents earn below the poverty level.This is likely to result in __________.

Which of these contributes to an increase in mandatory spending levels?

Which presidential candidate ran for office with the slogan,"It's the economy,stupid"?

Conservatives argue that high taxes on the wealthy and redistributive social welfare programs encourage effort and investment.

Despite its extensive welfare programs,New York City maintains a high degree of poverty.

Which combination of policies is most likely to decrease government deficits in the short-term?

Medicaid is an example of a "means-tested" program because it is only available __________.

Starting in the late 1950s,the United States began importing more than it exported.

Many of today's American welfare programs began during the 1960s during the Kennedy and Johnson administrations.

Moral hazard contributes __________.

Conservatives complain that the federal government often sets the poverty line too low because of its emphasis on estimating the costs of a suburban lifestyle.

According to the theory of supply-side economics,tax cuts will result in __________.

According to the theory of supply-side economics,a cut in the tax rate will actually result in an increase rather than a decrease in tax revenues.Which statement best explains how this is supposed to happen?

Between 1965 and 1973,the percentage of Americans living below the poverty line __________.

With no other changes in economic policy,a recession will reduce __________.

Due to increased medical costs,Medicare recipients are required to contribute bigger __________ to hold down overuse.