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Unit 4 Review Flashcards | StudBud
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Unit 4 Review
Unit 4 Review
21 terms
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StudBud Administration
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14 plays
for CH11 and CH12 only
Flashcards
21 cards
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Practice quiz
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Host live
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Questions
21
Answers
1
Giving rich business owners tax breaks in hopes that the money will trickle down through the economy.
supply-side economics
socialism
Keynesian economics
the monetarist school
2
Round 2 - Who wants more points?
I fell asleep
ME!
not me
meh
3
For monetarists the most important thing is the rate of growth of the money supply.
True
False
4
The national debt is increasing everyday.
True
False
5
Round 1 - Who wants some points?
not me
me
6
Anyone can buy some of the US national debt by investing in _____.
Bitcoin
IRS bonds
treasury bills
the Federal Reserve
7
The federal deficit is the gap between how much the government spends and how much it collect in taxes.
False
True
8
George W Bush and Barrack Obama used which school of economics during the Great Recession.
Monetarist
Classical
Keynesian
Whatever Mr. Clifford says.
9
How can government help correct a recession?
all of these
send out stimulus checks
create jobs through public works
lower interest rates
10
One dollar injected into the economy gets spent many times, thus having an effect greater than $1.
the multiplier effect
inflation
the stimulus effect
fiscal policy
11
How would John Maynard Keynes respond to a recession?
move to Canada
Stimulate spending through lots of government programs.
do nothing
12
Today the national debt is approximately _____.
$20 trillion
$28 trillion
$28 bazillion
$28 billion
13
How can the US lower the national debt?
cut programs and spending
raise taxes
both of these
14
Says Law states that supply creates its own demand.
False
True
15
The Goldilocks Rules can be a fun way to remember the basics of _____.
classical economics
the monetarist school
supply-side economics
Keynesian economics
16
During this Quiz activity, the national debt has grown by _____.
$70 million
$10 million
$10 billion
$200 billion
17
Laissez-faire is a french term that means 'free bread'.
False
True
18
The majority of the national debt is held by _____.
Great Britain
China
Brad
Americans
19
Supply-side economists believe that taxes are too low.
False
True
20
Ideally, the national debt would increase during bad times but decrease during prosperity.
True
False
21
Classical economists would respond to a recession by doing nothing.
False
True
