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
3. Multiple Choice
20 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
20 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
20 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
20 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
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
9. Multiple Choice
20 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
10. Multiple Choice
2 minutes
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?
Increasing taxation
Open market sales
decreasing taxation
Increasing government spending
11. Multiple Choice
2 minutes
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.
12. Multiple Choice
20 seconds
1 pt
Which of the following is not a tool of fiscal policy?
Taxing
Spending
Interest Rates
All of these options are tools of fiscal policy.
13. Multiple Choice
20 seconds
1 pt
When the government raises taxes, what does it take out of circulation?
Money
Credit
People
Jobs
14. Multiple Choice
20 seconds
1 pt
True or False-- the Federal Reserve helps with fiscal policy