NSL Review Economic Policy

Who is responsible for enacting the nation’s fiscal policy?

• Federal Reserve

• Office of Management and Budget

• Congress and the President

• Department of Treasury

What socio-economic goal is best met by the Social Security and Medicare programs?

• Economic growth

• Economic productivity

• Economic security

• Economic freedom

Which describes the main responsibility all regulatory agencies?

• Improve safety

• Create jobs

• Reduce prices

• Support research

A group of citizens present a written formal request to their Congressman to provide funds to save the red foxes in Maryland. What right are these citizens exercising?

• Right to vote

• Right to assemble

• Right to petition

• Right to free press

What is a role of the International Monetary Fund?

• Set interest rates in the world economy

• Mediate disputes between countries at war

• Provide disaster assistance during times of war

• Loan money to countries with struggling economies

The price of gasoline increased dramatically. How should this affect the demand for large cars and trucks that are not fuel efficient?

• Demand should increase

• Demand should remain the same

• Demand should decrease

• Demand should not be affected

Which responsibility of the executive branch did President Bush demonstrate when he asked Congress for increased spending on defense?

• Enforcing laws

• Leading his political party

• Negotiating treaties with other countries

• Proposing the budget

Nation A is in an economic recession. Most of its population cannot read and it cannot produce enough food to feed its citizens. Which organization would Nation A consult for advice and financial assistance to solve these immediate problems?

• World Bank

• North Atlantic Treaty Organization

• International Red Cross

• United Nations International Court of Justice

How does the government use fiscal policy to maintain a stable economy?

• It adjusts taxing and spending levels

• It buys surplus agricultural products

• It puts monetary strategies before the public for discussion

• It adjusts the amount of money in circulation through interest rates

Which government agency creates and enforces rules of behavior for broadcasting?

• Federal Communications Commission (FCC)

• Environmental Protection Agency (EPA)

• Federal Trade Commission (FTC)

• Food and Drug Administration (FDA)