Federal Budget and Economics Flashcard

Federal Budget and Economics Flashcard

Assessment

Flashcard

Business

12th Grade

Hard

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60 questions

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1.

FLASHCARD QUESTION

Front

If the federal government has a budget surplus in a given year, the U.S. debt will:

Back

decrease.

2.

FLASHCARD QUESTION

Front

For fiscal years 2019, 2020, 2021 and 2024, the federal budget deficit was approximately (in trillions of dollars): $0.5, $1.0 $1.5, $0.5, $1.0, $3.1, $2.8, $4.0, $1.0, $3.1, $2.8 $1.8, $0.0, $2.0, $4.0, $1.0

Back

$1.0, $3.1, $2.8 $1.8

3.

FLASHCARD QUESTION

Front

When the U.S. Government runs a deficit, what must happen?

Back

The U.S. Treasury has to sell bonds to finance the deficit.

4.

FLASHCARD QUESTION

Front

Keynesian Economics: Suggests that deficit spending during a recession is a good thing. Appears to have provided “cover” for politicians to support deficit spending. Is likely a reason the U.S. Federal Government has incurred a budget deficit is the great majority of the past 40 years.

Back

All of the above are correct.

5.

FLASHCARD QUESTION

Front

For 2024, when the U.S. economy was at least at potential output, the actual U.S. government budget deficit was ________, the cyclical deficit was__________, and the structural deficit was_________.

Back

large; zero; equal to the actual.

6.

FLASHCARD QUESTION

Front

Compared to the period prior to 2008, since 2008 U.S. government budget

Back

deficits have been higher, particularly since 2019.

7.

FLASHCARD QUESTION

Front

U.S. government budget deficits: Likely decrease investment, Require the U.S. Treasury to sell bonds, Likely increase interest rates.

Back

All of the above are correct.

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