What is the difference between demand and supply side policies?

To increase production and decrease unemployment

What is a healthy equilibrium?

A balance of demand and supply side policies

What are automatic stabilizers?

Programs that provide gov. benefits during downturn

what are supply-side goals?

Target producers, small gov. role, lower federal taxes

What are the goals of demand-side policies?

small gov spending, reduce tax rates

What is Fiscal Policy?

Gov. spending/revenue collection that measures the economy

What is macroeconomic equilibrium?

Amount of real GDP consistent with a given price level, Intersection of aggregate supply and aggregate demand

What is the Laffer curve?

Relationship between income tax rates and tax revenues

What is "priming the pump"

Small gov spending initiated a large boost in economy

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Fiscal Policy

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An economic quiz to go over Fiscal Policy.

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Questions 10

Answers

1
What is the difference between demand and supply side policies?
To increase production and increase unemployment
To increase production and decrease unemployment
To decrease production and decrease unemployment
To decrease production and increase unemployment
2
What is a healthy equilibrium?
A balance of demand and supply side policies
A balance of the stabilizing equilibrium of taxes
A balance between government roles and government policies
3
What are automatic stabilizers?
Programs that provide health benefits during downturn
Programs that provide gov. benefits during downturn
Gov provided benefits for poor people
4
Who inspired economic thought?
President Reagan
John Maynard Keynes
Jimmy Carter
5
what are supply-side goals?
Target producers, large gov. role, large federal taxes
Target producers, large gov. role, lower federal taxes
Target producers, small gov. large federal taxes
Target producers, small gov. role, lower federal taxes
6
What are the goals of demand-side policies?
large gov spending, reduce tax rates
small gov spending, raise tax rates
large gov spending, raise tax rates
small gov spending, reduce tax rates
7
What is Fiscal Policy?
Gov. spending/revenue collection that measures the economy
The total value of the nations economic policy.
Use of government spending to change the GDP.
8
What is macroeconomic equilibrium?
Amount of aggregate supply and aggregate demand
Amount of real GDP consistent with a given price level
Intersection of aggregate supply and aggregate demand
9
What is the Laffer curve?
Relationship between federal impacts and taxes
Relationship between income tax rates and tax revenues
IRS rates versus federal revenues
10
What is "priming the pump"
Small gov spending initiated a large boost in economy
Large gov spending initiated a large boost in economy
Large gov. spending initiated a small boost to economy

Fiscal Policy Flashcards | StudBud