Question 1

Nondiscretionary Fiscal Policy works by having

Accepted Answer

A) progressive income tax rates take a portion of increased income thereby dampening periods of growth. 
B) Congress and the President agree upon a tax cut to stimulate growth. 
C) welfare programs reduce spending on people when they have increased incomes thereby dampening periods of economic growth. 
D) both progressive income tax rates take a portion of increased income and welfare programs reduce spending on people when they have increased incomes thereby dampening periods of economic growth. 
A) progressive income tax rates take a portion of increased income thereby dampening periods of growth. 
B) Congress and the President agree upon a tax cut to stimulate growth. 
C) welfare programs reduce spending on people when they have increased incomes thereby dampening periods of economic growth. 
D) both progressive income tax rates take a portion of increased income and welfare programs reduce spending on people when they have increased incomes thereby dampening periods of economic growth.

Question 2

The 2003 tax rebate is an example of

Accepted Answer

A) nondiscretionary fiscal policy. 
B) monetary policy. 
C) discretionary fiscal policy. 
D) nondiscretionary trade policy. 
A) nondiscretionary fiscal policy. 
B) monetary policy. 
C) discretionary fiscal policy. 
D) nondiscretionary trade policy.

Question 3

Short-run expansionary Fiscal Policy would result in

Accepted Answer

A) aggregate demand moving to the right. 
B) aggregate supply moving to the right. 
C) aggregate demand moving to the left. 
D) aggregate supply moving to the left. 
A) aggregate demand moving to the right. 
B) aggregate supply moving to the right. 
C) aggregate demand moving to the left. 
D) aggregate supply moving to the left.

Question 4

Replacement of a progressive income tax system with a single income tax rate would be an example of

Accepted Answer

A) nondiscretionary fiscal policy. 
B) discretionary fiscal policy. 
C) mandatory spending policy. 
D) interest rate policy. 
A) nondiscretionary fiscal policy. 
B) discretionary fiscal policy. 
C) mandatory spending policy. 
D) interest rate policy.

Question 5

The tax cuts of 2001 and 2003 that came in the form of tax rebate checks are good examples of

Accepted Answer

A) fiscal policy. 
B) monetary policy. 
C) the fallacy of composition. 
D) the fallacy that causation and correlation are the same. 
A) fiscal policy. 
B) monetary policy. 
C) the fallacy of composition. 
D) the fallacy that causation and correlation are the same.

Question 6

Real economic growth during the first two years of President George W. Bush's second term was

Accepted Answer

A) approximately 8.7% per year. 
B) lower than real economic growth during the first two years of President Bill Clinton's second term. 
C) approximately 6.4% per year. 
D) negative because of the 2001 recession. 
A) approximately 8.7% per year. 
B) lower than real economic growth during the first two years of President Bill Clinton's second term. 
C) approximately 6.4% per year. 
D) negative because of the 2001 recession.

Exam 9: Fiscal Policy

Nondiscretionary Fiscal Policy works by having

The 2003 tax rebate is an example of

Short-run expansionary Fiscal Policy would result in

Replacement of a progressive income tax system with a single income tax rate would be an example of

The tax cuts of 2001 and 2003 that came in the form of tax rebate checks are good examples of

Real economic growth during the first two years of President George W. Bush's second term was

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