Economic Policy

Economic Policy

12th Grade

30 Qs

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Assessment

Quiz

Social Studies

12th Grade

Medium

Created by

Lauren Huber

Used 10+ times

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30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Who is in charge of fiscal policy?

Government
Federal Reserve

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which of the following are responsible for making fiscal policy decision? 

The President and Congress
The Federal Reserve System
The National Council of Economic Advisors
The commerce Department

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Taxing & spending to slow the economy is referred to as 

budget surplus 
monetary policy
contractionary policy
budget deficit

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

If the unemployment rate is rising and GDP is falling, the fiscal policy action that the federal government should MOST likely follow is 

decreasing taxes.
decreasing spending.
decreasing the money supply.
decreasing the reserve requirement.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When the government raises taxes, what does it take out of circulation?

Money
Credit
People
Jobs

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The federal government's overall approach to spending and taxes is called

Physical Policy
Fiscal Policy
Money
Monetary Policy

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

If and economy experiences a dramatic rise in prices, which fiscal policy action could be taken?

Selling securities on the open market
Raising interest rates
Reducing government spending
Raising reserve requirements

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