Fiscal and Monetary Policy

Front

Which of the following are responsible for making fiscal policy decisions? The President and Congress, The Federal Reserve System, The National Council of Economic Advisors, The Commerce Department

Back

The President and Congress

Front

Imagine the government deciding on the next year's budget. The overall approach they use to balance spending and taxes, which affects the economy, is called

Back

Fiscal Policy

Front

Fiscal Policy is concerned with

Back

Government Spending and taxation

Front

Imagine Jackson receives his first paycheck and notices several deductions. Which taxes are typically deducted from a paycheck?

Back

Social Security and Medicare taxes

Front

In a classroom discussion, Aria mentions that 'The Fed' refers to the Federal Reserve System, the Central Bank of the United States. Nora adds that the FOMC is the Federal Open Market Committee, the group responsible for implementing _________________ .

Back

Monetary policy

Front

What type of policy is described in the following scenario? "In February, lawmakers set themselves up to reach a more permanent spending agreement by the end of March. Congress agreed to increases to domestic and defense spending over the next two years, raising funding for domestic programs by $128 billion and hiking defense budgets by $160 billion. But they didn’t actually decide where the money would go." Options: Fiscal policy, Monetary policy

Back

Fiscal policy

Front

What type of policy is the U.S. Federal Reserve using to hike interest rates to 1.5 to 1.75 percent? Options: Fiscal policy, Monetary policy

Back

Monetary policy

Front

Monetary policy decisions are decided by: Congress, Senate, The Fed, President

Back

The Fed

Front

David noticed that the price for his weekly groceries has increased significantly over the past year, which is an example of

Back

inflation

Front

What is the fee charged by the Federal Reserve Bank for other member banks to borrow money from the FED through the discount window?

Back

discount rate