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- 1. Multiple Choice
Which of the following is responsible for fiscal policy?
the Federal Bureau of Investigation
the Federal Reserve
Congress & the President
the Federal Reserve banks
- 2. Multiple Choice
Which of the following statements is true?
Contractionary monetary policy would increase government revenue & slow down the economy.
Contractionary fiscal policy would decrease the money supply & slow down the economy.
Contractionary fiscal policy would lead to a decrease in national debt.
Contractionary monetary policy leads to a budget deficit.
- 3. Multiple Choice
Which fiscal policy tool would be used if the economy were in a trough?
increase the money supply
increase individual tax rate
decrease the money supply
increase government spending
- 4. Multiple Choice
Which of the following fiscal policy tools would decrease the national debt?
increase income taxes
decrease income taxes
increase money supply
decrease money supply
- 5. Multiple Choice
Which of the following are fiscal policy tools (select 2)?
adjusting the reserve requirement
adjusting the discount rate
changing government spending
changing income taxes
buying/selling bonds via open market operations
- 6. Multiple Choice
Which monetary policy tool would speed up the economy?
increasing reserve requirement to decrease the money supply
decreasing income taxes
increasing government spending
decreasing interest paid on reserves to increase the money supply
- 7. Multiple Choice
Which is true of a surplus?
(Select 2.)
a surplus is extra
a surplus is not enough
a surplus decreases the national debt
a surplus increases the national debt
- 8. Multiple Choice
Which combination of fiscal and monetary policy would speed up the economy?
increase income taxes; increase the money supply
decrease income taxes; increase money supply
increase gov't spending; decrease money supply
decrease gov't spending; decrease the money supply
- 9. Multiple Choice
Which monetary policy tool would be expansionary?
decrease reserve requirement to increse the money supply
increase discount rate to decrease the money supply
increase interest paid on reserves to decrease the money supply
selling bonds via open market operations to decrease the money supply
- 10. Multiple Choice
Choose the fiscal policy tools that would increase economic activity. (SELECT 2.)
increase taxes
decrease taxes
increase government spending
decrease government spending
decrease discount rate to increase the money supply
- 11. Multiple Choice
The President is directly involved with which of the following?
fiscal policy
monetary policy
setting interest rates
changing the money supply
- 12. Multiple Choice
Which of the following are related to adjusting the supply of money and credit? (SELECT 2.)
monetary policy
fiscal policy
adjusting amounts banks may loan out to customers
decreasing income taxes consumers have to pay
preparing US budget
- 13. Multiple Choice
If the government is concerned about unemployment, which fiscal policy tool would they use?
increase government spending
increase income taxes
increase reserve requirement to decrease the money supply
increase discount rate to decrease the money supply
- 14. Multiple Choice
How are monetary policy and fiscal policy similar?
They are both done by the President.
They are both done by the Fed.
They are both used to keep the economy stable.
They both use four tools.
- 15. Multiple Choice
The Federal Reserve sells bonds to decrease the money supply. What type of policy is this?
Contractionary Fiscal Policy
Expansionary Fiscal Policy
Contractionary Monetary Policy
Expansionary Monetary Policy
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