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SS 30 Issue 2 Quiz 2 Flashcards | StudBud
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SS 30 Issue 2 Quiz 2
SS 30 Issue 2 Quiz 2
40 terms
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StudBud Administration
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Resistance to Liberalism-Evolution of Classical Liberalism
Flashcards
40 cards
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Practice quiz
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Host live
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Questions
40
Answers
1
Supply side economics focused on influencing the supply of labour & goods for economic health
True
False
2
Who did Roosevelt get ideas from?
The Bourgeosies
The Brain Trust
A crystal ball
Karl Marx
3
Which of the following is
NOT
a value of supply side economics?
Lower tax rates
Private investment
"Trickle down" effect
Higher tax rates
4
Why did many Americans hate the New Deal?
It was adding minuimum wage and set standards
It made the rich richer
It was not what he promised
They didn't want women equal to men
5
Which is
NOT
a method of Clinton's demand side methods?
Creation of more jobs
Health care
Economic growth
Increase in family incomes
6
Movement to welfare capitalism was to increase government involvement in regulating the economy
False
True
7
With Classical Liberalism the economic POV wants the government to intervene with the economy?
True
False
8
The objective of monetary policy is:
Preserve the value of money.
Keeping inflation low, stable, and predictable.
Printing as much money as needed.
Inflation high, and unstable.
9
What is
NOT
an example of Roosevelt's new code of fair competition?
Setting a minimum wage
Setting fair prices
Lowering hours of work
Unequal distribution of income
10
Roosevelt's Social Security Act of 1935 provided which of the following?
Creating competition
Raised hours of work
Setting a minimum wage
All of the above
11
What increased the economy, or stimulated after the collapse of 1929?
The Square Deal
The Great Depression
The Bubonic, rat ridden plague
WW2
12
Who was the first to convert to Keynesian economics?
Karl Mark
John Maynard Keynes
Franklin D. Roosevelt
Theodore Roosevelt
13
What was the reason for the "New Deal"?
WWII
WWI
Industrial Revolution
The Great Depression
14
What spurred the movement from
welfare capitalism
to a
welfare state
The Industrial Revolution
WWI
The Great Depression
Progressivism
15
What did
NOT
happen during the Great Depression.
Wages increasing as rapidly as productivity
Protectionism and tariffs
Income unequally distributed
Overproduction of goods
16
Which of these is
NOT
a goal of "the New Deal"?
Recovery for business
Reform for the system
Lowering taxes
Relief to the people
17
How many factors affect the valuation of currency?
15
5
10
25
18
Supply side economics was better than Clinton's demand side method.
True
False
19
US during the 1980's used what new economic system?
Demand-side economics
Supply-side economics
Tax rates
Laffer Curve
20
Is a high stable and predictable inflation rate good for the economy?
True
False
21
Monetary policy seeks to keep money value by keeping inflation high, unstable & unpredictable
True
False
22
Which one of these is
NOT
one of the four areas of government intervention?
Income distribution
Government owned & operated companies
Laws and regulations
War and conflicts
23
Which country claims the least amount of taxes?
Canada
Sweden
USA
Israel
24
What is a welfare state?
A state that is capitalist and uses no policies
A communist state
A state with little to no rules
A state with a capitalist economy that uses certain policies
25
When demand for goods and services is strong,
banks lower interest rates.
banks raise interest rates
26
Did supply side economics solve unemployment problems in the US?
False
True
27
Roosevelt's "New Deal" ended the Great Depression.
False
True
28
Clinton's Demand-Side methods were
NOT
responsible for:
More jobs
Decreased homeownership
Unemployment drop
Increased family incomes
29
Roosevelt's code of fair competition, which appealed to industry did
NOT
include:
Lowering hours of work
Less child labour
Setting fair prices
Setting a minimum wage
30
What does Keynes mean when he say, "there is more money put into your pockets"?
Government should spend less money
Government should spend more money
Taxes should be raised
Taxes should be reduce
31
Education, conflict and weather patterns can affect a country's currency.
False
True
32
When demand exceeds supply, prices will
Correspond to the target for the short-term interest rates
Rise
Balance out
Fall
33
What was the Haymarket strike for?
Vacation days
Better pay
More jobs
Less working hours
34
What country has the highest tax rate?
Sweden
Finland
China
Canada
35
What type of laws did Roosevelt have?
Government laws
Ethical laws
Alphabet laws
Number laws
36
Which was part of the Great Depression?
Wages fell 90%
All of the above
25% unemployment
100,000 businesses went bankrupt
37
What ended the Great Depression?
Industrial Revolution
WW I
WW II
American Revolution
38
Which of the following began the shift to the
welfare state
?
The New Deal
Industrial Revolution
The Great Depression
The Square Deal
39
How does the Bank of Canada want to keep inflation?
They don't regulate inflation
High
Stable
Low
40
A fiscal policy:
Use of government taxes and spending
Something only in Sweden
Government regulations.
Is something Trump invented.
