Policy makers, budgeting, tax policy

Open Ended

What is an issue you would like to see a policy made about?

Multiple Select

Check all who would be considered policy makers.

• The President

• Elected Representatives

• Lobbyists

• Voters

Multiple Choice

People who actively work to propose or maintain public policies. The most effective of these are hired professionals who perform this as part of their employment.

• policy advocates

• policy analysts

• libertarians

• neoconservatives

Multiple Choice

laissez-faire

• opposed to government regulation of business

• government should control major industries

• government should be eliminated

• nations should avoid trade

Multiple Choice

According to the Keynesian framework, which of the following may help a country reduce inflation, but will not help that country to get out of a recession?

• increased spending by the government on health care

• an increase in taxes on business investments

• an increase in military spending

• a decrease in the tax rate on consumer income

Multiple Choice

According to macroeconomic theory, evidence that high unemployment may be accompanied by low inflation, and low unemployment may be accompanied by high inflation is supported by the:

• neoclassical expenditure-output model.

• Keynesian cross diagram.

• Keynesian Phillips curve tradeoff.

• Keynesian Inflation trade-off model.

Multiple Choice

When the government spends more money than they take in each year is called a _________?

• Debt
• Deficit
• Surplus
• Expansionary

Multiple Choice

What is Fiscal Policy?

• Use of gov't spending and tax policies to

  influence economic conditions

• A central bank influencing a nation's money supply

Multiple Choice

Who had a big influence on Fiscal Policy?

• John Maynard Keynes

• Thomas Malthus

• Josh Allen

• Adam Smith

Multiple Choice

Choose the two methods with which the government can balance the federal budget. These two methods may be done at the same time, or separately, each with the same goal. 

• increase taxes

• increase spending

• decrease spending

• increase the supply of money

Multiple Choice

Which of the following is NOT part of discretionary spending in the annual budget of the government? 

• funding Social Security

• military spending

• Education spending

• funding for maintenance of federal buildings

Multiple Choice

"The Fed" refers to the....

• Federal Bureau of Investigation
• Federal Government
• Federal Reserve System
• Federal Income Tax

Multiple Choice

The central bank in the USA that regulates the monetary system

• The FED
• FDIC
• The IRS
• Social Security

Multiple Choice

There are _______ Regional Federal Reserve Banks, and one Federal Reserve Board of Governors.

• 50
• 4
• 12
• 52

Multiple Choice

The primary role of the Federal Reserve Bank is to steer the economy by

• controlling the budget
• setting spending levels.
• controlling the money supply.
• loaning out money.