Fiscal Policy

Which type of government spending is required by law?

• Mandatory Spending

• Discretionary Spending

• Budgetary Spending

• Frivolous Spending

Which type of government spending can be adjusted?

• Mandatory Spending

• Discretionary Spending

• Budgetary Spending

• Frivolous Spending

What is our current national debt (January 2024)?

• $34 Trillion

• $22 Trillion

• $77 Trillion

• $32 Billion

What would the government do in a Contractionary Fiscal Policy?

• Raise Taxes

• Increase Government Spending

• Lower Taxes

• Lower Government Regulations

What would the government do in a Contractionary Fiscal Policy?

• Decrease Government Spending

• Increase Government Spending

• Lower Taxes

• Lower Government Regulations

What would the government do in an Expansionary Fiscal Policy?

• Increase Government Spending

• Raise Taxes

• Increase Government Regulations

• Decrease Government Spending

What would the government do in an Expansionary Fiscal Policy?

• Lower Taxes

• Raise Taxes

• Increase Government Regulations

• Decrease Government Spending

Which of the following does NOT participate in Fiscal Policy?

• The Federal Reserve

• The President

• The Office of Management & Budget

• Congress

What type of budget occurs when the treasury takes in less money than comes out in spending?

• Budget Deficit

• Budget Surplus

• Balanced Budget

• Bingo Budget

What type of budget occurs when the treasury takes in more money than comes out in spending?

• Budget Deficit

• Budget Surplus

• Balanced Budget

• Bingo Budget