Economic/Fiscal Policy

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

• Physical Policy

• Fiscal Policy

• The Federal Reserve

• Monetary Policy

The manipulation of the money supply in order to influence the cost and the availability of credit is 

• Banking Policy

• Fiscal Policy

• Monetary Policy

• Spending Policy

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

• Money

• Credit

• People

• Jobs

What are things in budget called that can't be cut?

• Reserves

• Inflation

• Discretionary Spending

• Mandatory spending

America's central bank is known as what?

• Congress

• Federal Reserves

• White House

• Bank of America

What is GDP?

• Get Duties Prior

• Gross Domestic Product

• Gross Department Power

• Gross Duties Peer

The U.S. economy is currently in a contraction and the Federal Reserve wants to increase the money supply. Which type of monetary policy would be correct?

• Loose/Expansionary monetary policy

• Tight/contractionary monetary poicy

The purpose of tight/contractionary monetary policy is to _______________ the money supply.

• Increase

• Decrease

Which type of economy is based on traditions and beliefs?

• Command
• Market
• Traditional
• Mixed

Which type of economy is controlled by the government?

• Command
• Market
• Mixed
• Democratic