Macro Intro Assessment

Question 1

A tax cut of 10% across the board for all taxpayers will

Accepted Answer

Have no impact on the U.S. economy, Hard to say, Help the U.S. economy

Question 2

The unemployment rate in the United States is about

Accepted Answer

5%

Question 3

Who is the current chair or leader of the Federal Reserve Bank

Accepted Answer

Janet Yellen

Question 4

The trade agreement with Mexico, Canada, and the United States is called

Accepted Answer

NAFTA

Question 5

Building a Wall across the Mexican border will

Accepted Answer

Have no impact on the U.S. economy, Hard to say, Help the U.S. economy, Hurt the U.S. economy

Question 6

Healthcare spending per capita in the United States is

Accepted Answer

Twice as much or more than most other industrial countries

Question 7

Repealing The Affordable Care Act (Aka Obamacare) without replacement will

Accepted Answer

Help the U.S. economy, Hard to Say, Have no impact on the U.S. economy, Hurt the U.S. economy

Question 8

The central bank of the United States is called

Accepted Answer

The Federal Reserve

Question 9

Which country is most impacted by BREXIT

Accepted Answer

Great Britain

Question 10

Who sets policies which determine the money supply in the United States

Accepted Answer

The Federal Reserve Bank

Question 11

Most economist would like to see the U.S. economy grow how much each year

Accepted Answer

3-4%

Question 12

The World Health Organization and other watchdogs rank the United States healthcare

Accepted Answer

Toward the bottom

Question 13

The major economic goals of the United States include all of the following except

Accepted Answer

Trade Surplus with all countries

Question 14

When the U.S. Government spends more than it raises in tax revenue this is called

Accepted Answer

Deficit

Question 15

At full employment in the United States the unemployment rate is

Accepted Answer

4-5%

Question 16

When it comes to inflation economist generally want

Accepted Answer

Prices to increase slowly & steadily

Question 17

The most important measure of an economy and its people is

Accepted Answer

Unemployment, Price Stability, GDP, None of these

Question 18

The national debt in the United States is directly impacted by

Accepted Answer

U.S. Government Budget Surplus or Deficit

Question 19

Economist generally agree that government intervention in macroeconomic policy and events is

Accepted Answer

There is no consensus

Question 20

The inflation rate in the United States is closest to

Accepted Answer

2%

Question 21

A good source to stay current on economic news might be

Accepted Answer

The Economist, The Wall Street Journal, The New York Times, All of these

Question 22

The President of the United States & the U.S. Congress has direct control over

Accepted Answer

Government Spending and Taxes

Questions 22