Economic Policy

What occurs when the government in one year spends more money than it takes in from taxes:

• deficit
• surplus
• national debt
• gross domestic product

The total deficit from the first presidency down to the present.

• Total Deficit
• National Debt
• Gross Domestic Product
• Economic Prosperity

The total of all goods and services produced in the economy during a given year.

• deficit
• total deficit
• National Debt
• Gross Domestic Product

Most voters would like to have

• lower taxes
• less debt
• have new programs
• lower taxes, less debt, and have new programs.

Monetarism is

• the belief the government must manage the economy by spending more money when in a recession and cutting spending when there is inflation.
• The belief that inflation occurs when too much money is chasing too few goods.
• the belief that government plans, such as wage and price controls or the direction of the investment, can improve the economy.
• The belief that lower taxes and fewer stimulate the economy.

Supply-side theory is

• the belief the government must manage the economy by spending more money when in a recession and cutting spending when there is inflation.
• The belief that inflation occurs when too much money is chasing too few goods.
• the belief that government plans, such as wage and price controls or the direction of the investment, can improve the economy.
• The belief that lower taxes and fewer stimulate the economy.

Economic Planning is

• the belief the government must manage the economy by spending more money when in a recession and cutting spending when there is inflation.
• The belief that inflation occurs when too much money is chasing too few goods.
• the belief that government plans, such as wage and price controls or the direction of the investment, can improve the economy.
• The belief that lower taxes and fewer stimulate the economy.

Keynesianism is

• the belief the government must manage the economy by spending more money when in a recession and cutting spending when there is inflation.
• The belief that inflation occurs when too much money is chasing too few goods.
• the belief that government plans, such as wage and price controls or the direction of the investment, can improve the economy.
• The belief that lower taxes and fewer stimulate the economy.

Reaganomics was based on 

• monetarism
• lower federal spending.
• supply side economics
• monetarism, lower federal spending, and supply side economics.

The Federal Reserve System is often known as

• FRS
• the Fed
• Big Banks
• The "Fourth Branch" of Government