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Economics Fiscal Policy Flashcards | StudBud

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What did Arthur Laffer create?

What is a budget deficit?

Economics Fiscal Policy

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Answers

1
What is a budget deficit?
When revenues exceed revenues.
When expenditures exceed expenditures.
When revenues exceed expenditures.
When expenditures exceed revenues.
2
What did Arthur Laffer create?
Laffer Graph
Light Bulb
Laffer Curve
Laffer Chart
3
What is Fiscal Policy?
The maximum amount of money that a bank can lend out.
When expenditures exceed revenues.
A written document estimating the federal government’s revenue.
The use of government spending & revenue collection to influence economy.
4
The legislative branch draws up a budget?
False
True
5
Government inervention is a good thing in keynesian economics?
True
False
6
What is the appropriation bill?
A bill to authorize specific spending based on decisions congress has made.
A bill signing in the new President of the United States.
A bill that makes sure inflation does not exceed a certain amount.
A bill that doesn't do anything and serves no purpose.
7
What is money reserve ratio?
Tools of fiscal policy that increase or decrease depending on GDP.
Total amount of money the federal government owes to bondholders.
The maximum amount of money that a bank can lend out.
The difference between how much money you have and how much you owe.
8
What is classical economics?
Old fashioned economics.
Free markets regulate themselves.
I have no idea.
Money from the Stone Age.
9
How many steps are there for creating the Federal budget basics?
5
7
6
4
10
What is national debt?
The max output that an economy can sustain without increasing inflation.
Money owed by you and only you.
A surplus of money.
Total amount of money the federal government owes to bondholders.