Economics Quiz

This type of policy regulates money supply and interest rates.

• Monetary

• Taxation

• Financial

The taxing and spending actions of the government make up this type of policy.

• Economic

• IRS

• Fiscal

How many 4-year terms can the Chairman of The Federal Reserve serve?

• One

• Two

• Unlimited

The _________ is the central banking system of the US and is in charge of monetary policy.

The intent of the government to improve the quality of life for its citizens is called:

• Capitalism

• Social Policy

• Welfare

When demand outpaces supply, prices rise, unemployment decreases:

• Inflation

• Progressive Tax

• Deflation

• Stagflation

When supply is higher than demand, unemployment increases and prices fall:

• Socialism

• Inflation

• Stagflation

• Deflation

The total money the US government owes is the national _______.

Theory of economics that focuses on government spending during recessions and taxing during economic booms.

• Laissez Faire

• Keynesian

• Trickle-down

Theory of economics that focuses on cutting taxes so that people have more money to spend.

• Marxism

• Socialist

• Supply side