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Fiscal and Monetary Policy Practice Test

Authored by Maryann Johnson

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12th Grade

Used 7+ times

Fiscal and Monetary Policy Practice Test
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25 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following are responsible for making fiscal policy decision? 

The President and Congress
The Federal Reserve System
The National Council of Economic Advisors
The commerce Department

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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

Physical Policy

Fiscal Policy

вежба

Monetary Policy

3.

MULTIPLE SELECT QUESTION

1 min • 1 pt

An example of expansionary is what? (Multiple answers - must pick all to receive credit)

Decrease taxes

Raise taxes

Government spends more on Science research

Government cuts organizations like the National Science Foundation

4.

MULTIPLE SELECT QUESTION

1 min • 1 pt

Examples of contractionary fiscal policy includes which of the following (choose all correct answers)?

Raise taxes on corporations

Lower the corporate tax rate

Government increases spending on research in Antarctica

Government cuts spending on education

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Monetary policy decisions are decided by:

Congress

Senate

The Fed

President

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which fiscal policy tool would be used if the economy were in a trough?

increase the money supply

increase individual tax rate

decrease the money supply

increase government spending

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which of the following fiscal policy tools would decrease the national debt?

increase income taxes

decrease income taxes

increase money supply

decrease money supply

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