Exam 16: Politics and the Economy

Discuss the changes in tax policies under the different administrations in recent decades.In your opinion,are tax policies based solely on party politics,or are other factors taken into account?

What is the government's use of taxation and spending policy to affect economic growth in the United States?

According to marginal utility theory,each additional dollar of income is slightly more valuable to an individual than the preceding dollar.

When spending exceeds revenues,what is the resulting imbalance in the annual federal budget?

The __________ is the federal government's largest source of revenue.

The United States is primarily a(n)__________ economy.

Why has federal spending generally increased over the years?

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

When inflation threatens,which of the following responses is the Fed likely to make?

What is the federal government's largest source of revenue?

What do economists use gross domestic product to measure?

The total market value of all goods and services produced in an area during a year is termed which of the following?

The federal government relies on a ___________ tax to fund the Social Security program.

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

The __________ tax package contained a variety of new credits and special treatments,including a lower tax rate on corporate stock dividends.

What was the purpose of the Treasury Department's Troubled Asset Relief Program (TARP)?

When members of Congress talk about the ___________,they are talking about the difference between annual government expenditures and revenues.

__________ requires all income groups to pay the same percentage of their income in taxes.

Which of the following is a problem of growing concern with respect to the U.S.national debt?

Much of the growth of federal government spending over the years is attributed to __________.