Final Review Session

Review Session for Final Exam

Word Cloud

What topic do you most wish to cover in our final exam review session today?

Poll

“The United States should implement a Universal Basic Income program.” 

• Strongly Agree

• Agree Somewhat

• Not Sure

• Disagree Somewhat

• Strongly Disagree

Poll

“The United States should implement a Universal Basic Income program.” 

• Strongly Agree

• Agree Somewhat

• Not Sure

• Disagree Somewhat

• Strongly Disagree

Multiple Choice

The value of 10 surfboards, at the price of $200 each, is

• 200

• 2,000

• 20

• 1,000

Multiple Choice

The value of 10 surfboards, at the price of $250 each, is

• 250

• 2,000

• 2,500

• 5,000

Multiple Choice

The value of 50 umbrellas, at the price of $10 each, is

• 50

• 60

• 200

• 500

Multiple Choice

The value of 50 umbrellas, at the price of $20 each, is

• 50

• 100

• 1,000

• 5,000

Multiple Choice

Suppose that the economy is in a downturn, and the unemployment rate is up. As a consequence, the amount of government spending on unemployment insurance increases. This is an example of

• Discretionary fiscal policy

• An automatic stabilizer

• A tax cut

• Expansionary Monetary Policy

Multiple Choice

During the Covid pandemic, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act with the goal of providing economic relief in a time of economic stress. Under the act, the IRS issued Economic Impact Payments to households of up to $1,200 per adult for individuals whose income was less than $99,000 (or $198,000 for joint filers) and $500 per child under 17 years old. What type of fiscal policy is this an example of?

• Discretionary fiscal policy

• An automatic stabilizer

• Mandatory Spending

• Expansionary Monetary Policy