4.4 Fiscal Policy Quiz
Authored by Brittany Claypool
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12th Grade
Used 9+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of fiscal policy?
To promote economic growth and stability
To regulate the money supply
To control inflation
To manage the national debt
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main source of revenue for the federal government?
Individual income tax
Corporate income tax
Excise tax
Custom duties
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the difference between mandatory spending and discretionary spending?
Mandatory spending is authorized by law and does not require annual approval, while discretionary spending requires annual authorization
Mandatory spending is for goods and services, while discretionary spending is for transfer payments
Mandatory spending is counted in GDP, while discretionary spending is not
Mandatory spending is used for fiscal policy, while discretionary spending is used for monetary policy
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of contractionary fiscal policy?
To combat inflation
To stimulate economic growth
To reduce unemployment
To increase government spending
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is deficit spending?
Annual spending in excess of taxes and other revenues
Annual spending equal to taxes and other revenues
Annual spending less than taxes and other revenues
Annual spending without any taxes or revenues
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main goal of the Federal Reserve System?
To regulate the money supply and promote economic stability
To collect taxes and manage government spending
To control inflation and reduce unemployment
To manage the national debt and promote economic growth
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of the Federal Reserve's monetary policy?
To regulate the money supply and control inflation
To promote economic growth and stability through government spending
To manage the national debt and reduce unemployment
To collect taxes and manage government spending
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