Which of the following are responsible for making fiscal policy decision?
The President and Congress
The Federal Reserve System
The National Council of Economic Advisors
The commerce Department
2. Multiple Choice
30 seconds
1 pt
What term is used to describe an increase in the general price level?
Deflation
Monetary policy
Stagnation
Inflation
3. Multiple Choice
30 seconds
1 pt
Taxing & spending to help the economy grow is referred to as
expansionary policy
monetary policy
contractionary policy
budget deficit
4. Multiple Choice
30 seconds
1 pt
Taxing & spending to slow the economy is referred to as
budget surplus
monetary policy
contractionary policy
budget deficit
5. Multiple Choice
20 seconds
1 pt
The federal government's overall approach to spending and taxes is called
Physical Policy
Fiscal Policy
Money
Monetary Policy
6. Multiple Choice
30 seconds
1 pt
An example of expansionary fiscal policy would be
cutting taxes.
cutting government spending.
cutting production of consumer goods.
cutting prices of consumer goods.
7. Multiple Choice
30 seconds
1 pt
If the unemployment rate is rising and GDP is falling, the fiscal policy action that the federal government should MOST likely follow is
decreasing taxes.
decreasing spending.
decreasing the money supply.
decreasing the reserve requirement.
8. Multiple Choice
30 seconds
1 pt
Stimulus checks, lower interest rates, decrease in the reserve requirement and lower taxes are all examples of
Monetary Policy
Fiscal Policy
Contractionary Policy
Expansionary Policy
9. Multiple Choice
30 seconds
1 pt
The use of taxes and government spending to affect the economy
Monetary Policy
Fiscal Policy
Contractionary Policy
Expansionary Policy
10. Multiple Choice
30 seconds
1 pt
When we need to slow economic growth, we need
Expansionary Fiscal and Monetary Policy
Contractionary Fiscal and Monetary Policy
11. Multiple Choice
2 minutes
1 pt
How does a budget deficit relate to the national debt?
They are the same thing.
Budget deficits are more than the national debt.
Budget deficits reduce the size of the national debt.
Budget deficits create the national debt.
12. Multiple Choice
20 seconds
1 pt
If and economy experiences a dramatic rise in prices, which fiscal policy action could be taken?
Selling securities on the open market
Raising interest rates
Reducing government spending
Raising reserve requirements
13. Multiple Choice
45 seconds
1 pt
How are fiscal and monetary policies similar?
They both use the same tools to fix economic problems
They both try to promote economic stability.
They always must have Congressional approval before passing.
They both are decided by a Board of Governors.
14. Multiple Choice
30 seconds
1 pt
refers to government revenue, spending, and debt
Fractional Reserve Banking
Legal Reserves
Fiscal
Reserve system
15. Multiple Choice
30 seconds
1 pt
The use of taxes and government spending to affect the economy
Monetary Policy
Fiscal Policy
Contractionary Policy
Expansionary Policy
16. Multiple Choice
30 seconds
1 pt
Fiscal Policy is the means by which the government keeps the economy stable through taxes and programs provided to the people.
True
False
17. Multiple Choice
30 seconds
1 pt
The federal government's overall approach to spending and taxes is called
Physical Policy
Fiscal Policy
Money
Monetary Policy
18. Multiple Choice
1 minute
1 pt
If policy makers are concerned about inflation, which fiscal and monetary policies would be MOST effective?
lowering taxes and buying bonds
lowering taxes and raising the reserve requirement
increasing taxes and lowering the discount rate
increasing taxes and selling bonds
19. Multiple Choice
30 seconds
1 pt
Fiscal Policy is concerned with
Government Spending and taxation
Consumer spending and productivity
Government spending and the money supply
Taxation and inflation
20. Multiple Choice
30 seconds
1 pt
The Federal government is concerned that economic growth is too high, that it is unsustainable, and that inflation is resulting. Which of the following fiscal policies might be enacted to reduce inflation?