Members of the Federal Reserve System's Board of Governors

have 14-year terms to insulate them from political pressure.

the excess of federal expenditures over federal revenues.

As chief diplomat, the president does all of the following EXCEPT

hires civil service workers in the Defense Department.

The Federal Reserve Board regulates

the supply of money and credit in the economy.

Defense spending is greater than all of the following EXCEPT:

federal spending on entitlements

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Public Policy

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An AP Government Review of Public Policy

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Questions 15

Answers

1
Taxing and spending decisions by Congress and the president are known as
supply-side economics.
fiscal policy.
laissez faire.
monetary policy.
2
Government benefits that must be provided to individuals who meet certain criteria are:
non-merit benefits
generic expenditures
entitlements
federal grants-in-aid
3
The regulation of the supply of money and credit to promote the nation's economic health.
Fiscal Policy
Supply-side policy
Laissez faire
Monetary policy
4
Members of the Federal Reserve System's Board of Governors
are subject to replacement by each new president.
are career civil servants.
can be fired by the president at any time.
have 14-year terms to insulate them from political pressure.
5
The Social Security system is funded by:
payroll taxes.
deficit spending.
A) federal income taxes.
sales taxes.
6
A budget deficit is:
allowed only during time of emergency.
the excess of federal expenditures over federal revenues.
banned by constitutional amendment.
the total amount of money owed by the federal government.
7
As chief diplomat, the president does all of the following EXCEPT
appoints United States ambassadors.
meets with foreign dignitaries.
hires civil service workers in the Defense Department.
negotiates executive agreements
8
This tax takes a higher percentage from the incomes of the rich than the poor.
regressive
proportional
flat
progressive
9
The Federal Reserve Board regulates
all United States government bank accounts and investments.
the supply of money and credit in the economy.
tax and spending policies.
the nation's gold reserves and the United States Mint.
10
Defense spending is greater than all of the following EXCEPT:
federal spending on entitlements
federal spending on energy research
federal spending on education
federal grants to states
11
The largest source of federal revenue is:
excise taxes
corporate income taxes
individual income taxes
borrowing
12
Medicaid is a program designed to provide health care for
the poor.
the elderly.
veterans.
government employees.
13
All of the following are areas of mandatory spending EXCEPT:
Medicaid
Military
Medicare
Social Security
14
All of these have a direct role in the federal budget process EXCEPT:
Federal Reserve Board.
Senate.
House of Representatives.
Office of Management and Budget.
15
The government body responsible for coordinating foreign and military policy is the
State Department.
Department of Defense.
National Security Council.
Joint Chiefs of Staff.

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