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Fiscal, Monetary and Regulatory Policies Flashcards | StudBud
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Fiscal, Monetary and Regulatory Policies
Fiscal, Monetary and Regulatory Policies
25 terms
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StudBud Administration
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1,255 plays
Economics Unit of NSL.
Flashcards
25 cards
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Practice quiz
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Questions
25
Answers
1
Government can get corporations to abide by regulations by providing market incentives.
True
False
2
All of the following are actions that the FED can take to lower inflation
EXCEPT
Raise the interest rates
Sell bonds
Raise the reserve requirements
Increase taxes
3
The Chairman(woman) of the Federal Reserve is appointed by the ____ and approved by the____.
President and Senate
Congress and Department of State
Office of Management and Budget and Congress
Secretary of Treasury and Congress
4
Who is responsible for the national budget and fiscal policy?
The President and the Congress
The State Department
The Treasury Department
The 50 States
5
Taxing and spending are the cornerstones of________________policy.
regulatory
monetary
fiscal
public
6
The Business Cycle of a country measures the ups and downs of the economy.
True
False
7
The goals of the Federal Reserve include all of the following EXCEPT
high salaries
economic growth
price stability
high employment
8
In case of a RECESSION, what can the President and the Congress do to improve the economy?
Raise the discount rate
Decrease spending and increase taxes
Raise interest rates
Increase spending and decrease taxes
9
What are externalities?
Side effects of taking an economic action
Dead fish in the water
The cost of doing a business
Your toes, hands, fingers and feet
10
In case of a RECESSION in the economy, FISCAL policy can.....
Lower the reserve requirement
Increase taxes and Decrease Spending
Decrease Taxes and Increase Spending
Increase the Discount (interest) rate
11
The Republican Party is most likely to favor regulations.
True
False
12
If your parents take out a loan for yr college education, checking interest rates is important.
False
True
13
When you have to pay an extra 6% for goods or services, this is called a ________tax.
Estate Tax
Sales Tax
Property Tax
Excise tax
14
When you buy a house, you will get a tax bill from the county showing how much tax you owe.
Excise Tax
Medicare Tax
Sales Tax
Property Tax
15
The Consumer Price Index (CPI) measures.....
The total amount of goods and services produced by a country
The rise in prices in the economy
The amount of money in the Federal Reserve
The severity or a recession
16
Decreasing taxes and increasing spending will get us out of a ______________.
FOMC
Inflation
Recession
stock market
17
Revenues and expenditures are included in the federal budget. This is part of ________policy.
Public
Regulatory
Fiscal
Monetary
18
The Gross Domestic Product (GDP) measures the ..........
The total number of business cycles in a country
Poverty levels
Total amount of goods and services produced by a country
Inflation rate of countries
19
The FTC is responsible for all of the following EXCEPT
Regulate air and land pollution
Scams on Consumers
Promote competition
Anti monopoly activities by firms
20
The Federal Reserve is in charge of ______________ policy.
foreign
fiscal
regulatory
monetary
21
The Federal Reserve is divided into_____________branches.
24
12
7
2
22
The drug Celebrex is found to cause cancer in animals. The agency in charge of removing it is
the FAA
the FDA
the FCC
the FTC
23
Inflation means......what?
Too much money circulating in the economy
Too many unemployed folks
Too many ups and downs in the economy
Too many competing budgets
24
The Clean Air Act and Clean Water Act gave
this agency
authority for environmental. action.
FTC
EPA
FAA
FDA
25
The use of Skype, internet and television are usually monitored by the
FAA
FTC
FDA
FCC
