This occurs when the government spends more in a budget year than it collects in revenue:

• national debt

• deficit

• monetary policy

• recession

The phase of the business cycle featuring rising GDP and falling unemployment:

• expansion

• peak

• contraction

• trough

Which of these is NOT a US foreign policy goal?

• economic prosperity

• human rights

• national security

• global power

A massive tidal wave has destroyed cities on several Pacific islands leaving thousands of people without food, water, or shelter. Which international organization should respond?

• NATO

• USMCA

• Red Cross

• WTO

The value of all goods and service produced in country in a given period of time.

• CPI

• GDP

• Inflation rate

• Unemployment rate

Urban sprawl leads to

• more farmland

• cleaner air and water

• less traffic congestion

• more traffic congestion

Taxing and spending

• public policy

• fiscal policy

• monetary policy

• foreign policy

The correct monetary policy move during a recession would be to

• cut taxes

• sell US Treasury securities

• buy US Treasury securities

• raise the Discount Rate

The highest unemployment rate is associated with which phase of the business cycle?

• expansion

• peak

• contraction

• trough

Which of the following is NOT considered an entitlement program?

• Temporary Assistance to Needy Families (TANF)

• Social Security

• Medicare

• Medicaid