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Unit 3b Test Review (SSEMA3)

Social Studies

12th Grade

CCSS covered

Used 19+ times

Unit 3b Test Review (SSEMA3)
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110 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is MOST LIKELY to happen to the economy if the Federal Reserve Bank increases the discount rate at the same time that Congress passes a law reducing government spending? 

A  Uncertain, because the policies cancel each other.
 B Expansion, because both of the policies are expansionary. 
C Contraction, because both of the policies are contractionary. 
D  Uncertain, because one is a fiscal policy and the other is a monetary policy.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which policy combination would work BEST to slow down an overheating, overproducing economy?                        
               Fiscal                         Monetary

A          Decrease taxes     Sell Securities
B Increase Government spending  Lower the                                                               discount rate
C   Increase taxes                    Buy securities
 D.  Increase taxes            Raise the discount rate

A
B
C
D

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

  45. If the Federal Reserve lowers the reserve requirement, Bobby as a consumer, will More LIKELY  

A. Buy a House 
B. Save his Money 
 C. Buy Bonds   
D. Pay a high interest rate

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The government is said to have a balanced budget if 

 A. The value of imports is equal to the value of exports
 B. Tax revenues are up from the previous year 
C. Government spending exactly equals the amount of government revenue
D. Both the House of Representatives and the Senate agree on the budget

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

   You hear another student say: “Fiscal policy is easy to understand, all you have to know is what is happening with current tax rates!”  This student is

A  correct, that is the definition of fiscal policy.
B  incorrect, he is describing monetary policy.
C  partially correct; he needs to include government spending decisions as well.
 D partially correct; he needs to include open market operations as well.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The way the government conducts spending and taxation is called?

A. Monetary Policy 
B. Economic Policy 
C. Free-Enterprise policy 
D. Fiscal Policy

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Fiscal policy is concerned with which of the following?

 A. Government spending and taxation 
B. Consumer spending and productivity
 C. Government spending and the money supply 
 D. Taxation and inflation. 

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