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Economic Policymaking
Economic Policymaking
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Economic policymaking quiz Allie Savino, Ty Hamilton, David Nica AP Gov Pol Section 5
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Questions
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Answers
1
Who sparked the consumer safety movement?
Ronald Reagan
Teddy Roosevelt
FDR
Ralph Nader
2
The Federal Reserve is responsible for
Monetary policy
Public policy
Fiscal policy
Mandatory spending
3
Which is NOT an achievement/success of unions?
Minimum wage
Unemployment benefits
Wagner Act
Free trade
4
Which of the following is a measure/indicator of inflation?
Consumer Price Index (CPI)
Fed funds rate
Discount rate
GDP
5
Which is NOT an example of free trade?
GATT
NAFTA
Tariffs
WTO
6
Which government agency regulates stock fraud?
Securities and Exchange Commission
Federal Reserve System
National Labor Relations Board
Federal Trade Commission
7
Who advises the president on international economic issues?
US Trade Representative
Congressional Budget Office
National Economic Council
Office of Management and Budget
8
A modern-day Republicans would most likely agree with
Supply-side economics
Laissez faire
Keynesian theory
Value added tax (VAT)
9
Monetarist economic theory stresses the importance of
Inflation
Taxing and spending
Money supply
Budget deficits
10
Which of the following is not a basic economic interest group?
Labor
Manufacturing
Consumer
Business
11
What is the United States best described as?
Command economy
Pure economy
Laissez-faire economy
Mixed economy
12
The federal income tax is an example of a
Regressive tax
Valeu-added tax (VAT)
Progressive tax
Flat tax
13
What element of the economy do Republicans typically focus on?
Employment
Exports
Inflation
Labor unions
14
What did the 1890 Sherman Act target?
Stock fraud
Trusts
White-collar crime
Inflation
15
The federal government
Has less control over the economy than is believed
Is constitutionally barred from economic regulation
Maintains a laissez-faire economic policy
Composes the majority of the economy