Fiscal and Monetary Policy

Front

Which of the following are responsible for making fiscal policy decisions? The President and Congress, The Federal Reserve System, The National Council of Economic Advisors, The Commerce Department

Back

The President and Congress

Front

The federal government's overall approach to spending and taxes is called

Back

Fiscal Policy

Front

Fiscal Policy is concerned with

Back

Government Spending and taxation

Front

Taxes that come out of your paycheck include which ones?

Back

Social Security and Medicare taxes

Front

One pro of a flat tax is:

Back

Lawmakers cannot create loopholes for corporations and lobbyists for campaign contributions or personal favors

Front

The Fed refers to the Federal Reserve System or the Central Bank of the United States. The Fed implements which type of policy?

Back

Monetary policy

Front

What type of policy is described in the following scenario? "In February, lawmakers set themselves up to reach a more permanent spending agreement by the end of March. Congress agreed to increases to domestic and defense spending over the next two years, raising funding for domestic programs by $128 billion and hiking defense budgets by $160 billion. But they didn’t actually decide where the money would go."

Back

Fiscal policy

Front

What type of policy is the U.S. Federal Reserve using to hike interest rates to the highest level in a decade: 1.5 to 1.75 percent? Options: Fiscal policy, Monetary policy

Back

Monetary policy

Front

Which is NOT one of government's role in the economy? Protecting property rights, Maintaining competition, Protecting consumers, savers, and investors, Protecting monopolistic corporations

Back

Protecting monopolistic corporations

Front

What role is the government taking in the economy as indicated by an OSHA sign in a bakery's break room?

Back

Protecting workers