Exploring Political Ideologies and Economic Policies

Who controls fiscal policy in the United States?

• The President

• The U.S. Congress

• The US Federal Reserve System

• State Governments

What is the primary focus of monetary policy?

• Managing national parks

• Controlling interest rates and money supply

• Regulating taxation

• Overseeing education

Which ideology is associated with favoring lower taxes and less government spending?

• Liberal

• Socialist

• Conservative

• Libertarian

Which ideology is more likely to have common ground with liberals on social issues?

• Conservative

• Libertarian

• Monarchist

• Socialist

Which political ideology generally supports a larger government with more regulations?

• Liberal

• Conservative

• Libertarian

• Anarchist

What is a key characteristic of Keynesian economics?

• Reducing the money supply

• Promoting a gold standard

• Using fiscal policy to stimulate the economy

• Eliminating government spending

During a recession, what would Keynesian economics suggest?

• Privatize public services

• Increase taxes

• Decrease government spending

• Increase government spending

Who is most associated with the development of Keynesian economics?

• Karl Marx

• Adam Smith

• John Maynard Keynes

• Milton Friedman

What do libertarians generally believe about government intervention?

• It should be extensive in economic matters

• It should be limited to defense and public safety

• It should control all aspects of the economy

• It should prioritize social welfare programs

Which group is described as favoring the smallest possible government?

• Libertarians

• Conservatives

• Liberals

• Socialists