Econ 104 Bill Goffe, Final Exam Prep Newest Actual
Exam With Complete Questions And Correct
Detailed Answers (Verified Answers) |Already
Graded A+\The Pennsylvania State University
If the President and Congress made decisions that increase the federal budget
deficit, how will GDP growth change?
It will grow more quickly.
It will grow at the same rate. It will grow more slowly.
It will grow more quickly
Which is currently the largest in the U.S.?
-debt
-deficit
debt
,If federal expenditures fall, then all else equal the federal deficit will most
likely do what?
fall
stay the same
rise
fall
The best example of fiscal policy is ___.
the Fed lowering interest rates
the government raising taxes
the government raising taxes
Fundamentally, fiscal policy deals with which of the following?
changes in the federal budget
changes in M1 (one way to measure money in the economy)
changes in interest rates
changes in the vlaue of the dollar
changes in the federal budget
Which of the following best describes the CARES Act?
It was an example of Congress and the President working together to
increase the amount of money in the economy.
It was an example of a major tax cut designed to speed economic
growth. It was an example of monetary policy.
It was the largest example of fiscal policy to date.
It was the largest example of fiscal policy to date.
,If the President and Congress make decisions that decrease the budget
deficit, GDP will most likely grow ___.
more quickly
at the same rate
more slowly
more slowly
If federal expenditures suddenly increased (say to fight a pandemic), which is
most likely to happen?
the government will print more money
taxes will be raised
the government will borrow more
the government will borrow more
Which of the following is the most likely response if inflation was at 10%?
the Fed would be raising interest rates
the Fed would be lowering interest rates
the federal government would be raising
taxes the federal government would be
lowering taxes
the Fed would be raising interest rates
, During and after the Covid Recession, monetary policy was ___, while fiscal policy
was ___.
little used, little used
used extensively, little
used little used, used
extensively
used extensively, used extensively
used extensively, used extensively
Why was the Fed created in 1913?
to control inflation
to avert bank panics
to maximize employment
to collect taxes
to avert bank panics
Which of the following does the President have the most control over?
monetary policy
fiscal policy
fiscal policy
Exam With Complete Questions And Correct
Detailed Answers (Verified Answers) |Already
Graded A+\The Pennsylvania State University
If the President and Congress made decisions that increase the federal budget
deficit, how will GDP growth change?
It will grow more quickly.
It will grow at the same rate. It will grow more slowly.
It will grow more quickly
Which is currently the largest in the U.S.?
-debt
-deficit
debt
,If federal expenditures fall, then all else equal the federal deficit will most
likely do what?
fall
stay the same
rise
fall
The best example of fiscal policy is ___.
the Fed lowering interest rates
the government raising taxes
the government raising taxes
Fundamentally, fiscal policy deals with which of the following?
changes in the federal budget
changes in M1 (one way to measure money in the economy)
changes in interest rates
changes in the vlaue of the dollar
changes in the federal budget
Which of the following best describes the CARES Act?
It was an example of Congress and the President working together to
increase the amount of money in the economy.
It was an example of a major tax cut designed to speed economic
growth. It was an example of monetary policy.
It was the largest example of fiscal policy to date.
It was the largest example of fiscal policy to date.
,If the President and Congress make decisions that decrease the budget
deficit, GDP will most likely grow ___.
more quickly
at the same rate
more slowly
more slowly
If federal expenditures suddenly increased (say to fight a pandemic), which is
most likely to happen?
the government will print more money
taxes will be raised
the government will borrow more
the government will borrow more
Which of the following is the most likely response if inflation was at 10%?
the Fed would be raising interest rates
the Fed would be lowering interest rates
the federal government would be raising
taxes the federal government would be
lowering taxes
the Fed would be raising interest rates
, During and after the Covid Recession, monetary policy was ___, while fiscal policy
was ___.
little used, little used
used extensively, little
used little used, used
extensively
used extensively, used extensively
used extensively, used extensively
Why was the Fed created in 1913?
to control inflation
to avert bank panics
to maximize employment
to collect taxes
to avert bank panics
Which of the following does the President have the most control over?
monetary policy
fiscal policy
fiscal policy
