LAST QUIZ

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Question 1 (10 points)

Which institutions control fiscal policy?

Question 1 options:

	Congress and the Fed
	Congress and the president
	the Fed and regulatory agencies
	the president and the cabinet agencies

Question 2 (10 points)

Supply side economic policy is based on

Question 2 options:

	business regulation
	the Fed.
	government spending programs
	business tax cuts

Question 3 (10 points)

Which approach to stimulating the economy can be enacted/changed most quickly?

Question 3 options:

	interior policy.
	regulatory policy
	fiscal policy.
	monetary policy

Question 4 (10 points)

Which statement about poverty in America is true?

Question 4 options:

	Men are more likely than women to live in poverty
	The U.S. has less poverty than do most Western democracies
	Poverty in the U.S. is highest among working-class whites.
	The U.S. has a higher rate of child poverty than do most Western democracies.

Question 5 (10 points)

America’s social welfare system includes both social insurance programs and public assistance programs. Which statement about these programs is NOT true?

Question 5 options:

	The American public has a more favorable opinion of social insurance programs than of public assistance programs.
	Eligibility for social insurance benefits is based on payroll taxes that individuals pay during their working years
	Eligibility for public assistance benefits is based on a means test (that is, individuals must prove their income is low enough to qualify for the benefit).
	Democratic lawmakers and Republican lawmakers differ more in their support for social insurance programs than they do in their support for public assistance programs.

Question 6 (10 points)

After World War II and through the end of the 1960s, the income of the average American increased substantially. Which of the following is NOT among the reasons?

Question 6 options:

	the strength of the U.S. manufacturing sector
	changes in tax policy
	G.I. Bill
	labor union membership

Question 7 (10 points)

Which statement best describes the pattern of income growth in the United States since the 1970s?

Question 7 options:

	a sharp rise in income among those with top incomes and stagnant income among those with middle and lower incomes
	a sharp rise in income among those with top and middle incomes and stagnant income among those with lower incomes
	slow income growth in all income categories
	substantial income growth in all income categories

Question 8 (10 points)

The fiscal theory that favors spending by the government as a way to increase economic activity is called

Question 8 options:

	laissez-faire economics
	Keynesian economics
	supply-side economics
	Reaganomics

Question 9 (10 points)

All of the following are ways that the Fed can deal with economic downturns EXCEPT

Question 9 options:

	The Fed can lower interest rates
	The Fed can create jobs, which then leads to greater economic demand and thereby boosts productivity.
	The Fed can buy and sell securities
	The Fed can increase the amount of money in circulation by lowering the reserve rate

Question 10 (10 points)

Which political thinker believes the rich do not deserve all of their wealth because of the arbitrary distribution of wealth in society?

Question 10 options:

	John Rawls
	Robert Nozick
	Milton Friedman
	John Maynard Keynes