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Economic Policy Flashcards | StudBud
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Economic Policy
Economic Policy
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Questions
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Answers
1
which amendment allows congress to levy income tax
16th
17th
15th
14th
2
What is the rise in general price levels of the economy
deregulation
inflation
fiscal policy
recession
3
When the economy is peaking, citizens will desire _____ policies from when it is falling
similar
different
4
The Federal Reserve System has a central bank in ow many districts
11
10
12
5
Which of the following do democrats believe in
taxes should be increased for anyone
higher tax rates for higher income brackets
wages should be set by the free market
6
unemployment is calculated as a percentage by dividing the number of employed by unemployed
false
true
7
What theory explains the movement of goods in a market
Unemployment rate
economic theory
Keynesian economic theory
Supply-side economics
8
what department is the FDA a part of
Department of Labor
Department of Education
Department of Health and Human Services
Department of State
9
What is monetary policy?
Controlling the amount of money in the economy
The ability to print money
A tax that is higher for rich people than for poor people
Raising taxes to fund road-building
10
How can fiscal policy affect interest rates
Expenditures drive them down
Taxes drive them down
Expenditures drive them up
Government borrowing can drive them up
11
Which of the following did the FTC not prevent
false advertising
trade restraints
bargaining
price fixing
12
What is the Keynesian economic theory
economic output is strongly influenced by demand
The belief in laissez-faire economic policy
The claim that global trade is damaging to workers
The use of central planning to promote growth
13
What do Right to Work Laws prohibit
consumer price index
collective bargaining
union security agreements
14
Laissez-faire isa policy or attitude of letting things take their owncourse without interfering
true
false
15
What is an advantage of an industrial based economy
information is passed through technology
produces tangible goods such as cars
16
What is the period of time for which the federal government appropriations are made
fiscal month
fiscal year
fiscal week
17
Traditionally, Republicans have been viewed to favor which of the following groups
The poor
The middle class
Hispanics
Big Businesses
18
What kind of economy do we have in the US today
information-based
industrial-based
19
Republicans believe taxes should be increased for anyone (not including the wealthy)
true
false
20
An economic theory that holds that government can stimulate investment in industry
lassiez-faire
economic theory
supply-side economics
transnational corporation
