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CSM 405 FINAL EXAM REVIEW
Questions with Detailed Verified
Answers
Question:Fiscal policy is controlled by___
a) the president and congress
b) the American people
c) the supreme court
d) state governors and legislators
Ans: a) the president and congress
Question: the projected deficit in 2029 is__
a) 1.7 million
b) 20.9 billion
c) 740 billion
d) 1.3 trillion
Ans: d) 1.3 trillion
Question: which of the following were identified as having had an impact on
the current budget deficit?
a) the financial and economic meltdown that occurred in 2007 and 2008
b) the economy recovery packages passed in the Busch and Obama
administrations
c) the tax cuts and jobs act (TCJA) passed by president trump
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d) all of these
Ans: d) all of these
Question: which of the following were identified as a way to potentially
reduce the deficit?
a) increase entitlement expenditures
b) increase discretionary expenditures
c) increase revenue through taxes or other devices
d) increase mandatory expenditures
Ans: c) increase revenue through taxes or other devices
Question: which of the following is considered to be discretionary fund
expenditures?
a) social security
b) medicare
c) foregin aid
d) medicaid
Ans: c) foreign aid
Question: which of the following was identified as an argument against
increasing fees for certain resources, such as the national parks?
a) it would mean that no one would be able to visit the parks
b) it would mean that there would have to be a reduction in staff
c) it would mean that lower-income people could no longer afford to visit the
parks
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d) it would mean available to help maintain and staff the parks
Ans: c) it would mean that lower-income people could no longer afford to visit
the parks
Question: one of the only areas related to revenue increases that sometimes
generates public support is in the category of___
a) property taxes
b) user fees
c) student loan interest
d) mortgage loan interest
Ans: b) user fees
Question: the national debt began to soar in the___
a) 1950s
b) 1960s
c) 1970s
d) 1980s
Ans: d) 1980s
Question: The term used to explain negative growth over two or more
consecutive quarters is referred to as a___
a) recession
b) surplus
c) boom
d) debt
CSM 405 FINAL EXAM REVIEW
Questions with Detailed Verified
Answers
Question:Fiscal policy is controlled by___
a) the president and congress
b) the American people
c) the supreme court
d) state governors and legislators
Ans: a) the president and congress
Question: the projected deficit in 2029 is__
a) 1.7 million
b) 20.9 billion
c) 740 billion
d) 1.3 trillion
Ans: d) 1.3 trillion
Question: which of the following were identified as having had an impact on
the current budget deficit?
a) the financial and economic meltdown that occurred in 2007 and 2008
b) the economy recovery packages passed in the Busch and Obama
administrations
c) the tax cuts and jobs act (TCJA) passed by president trump
, Page | 2
d) all of these
Ans: d) all of these
Question: which of the following were identified as a way to potentially
reduce the deficit?
a) increase entitlement expenditures
b) increase discretionary expenditures
c) increase revenue through taxes or other devices
d) increase mandatory expenditures
Ans: c) increase revenue through taxes or other devices
Question: which of the following is considered to be discretionary fund
expenditures?
a) social security
b) medicare
c) foregin aid
d) medicaid
Ans: c) foreign aid
Question: which of the following was identified as an argument against
increasing fees for certain resources, such as the national parks?
a) it would mean that no one would be able to visit the parks
b) it would mean that there would have to be a reduction in staff
c) it would mean that lower-income people could no longer afford to visit the
parks
, Page | 3
d) it would mean available to help maintain and staff the parks
Ans: c) it would mean that lower-income people could no longer afford to visit
the parks
Question: one of the only areas related to revenue increases that sometimes
generates public support is in the category of___
a) property taxes
b) user fees
c) student loan interest
d) mortgage loan interest
Ans: b) user fees
Question: the national debt began to soar in the___
a) 1950s
b) 1960s
c) 1970s
d) 1980s
Ans: d) 1980s
Question: The term used to explain negative growth over two or more
consecutive quarters is referred to as a___
a) recession
b) surplus
c) boom
d) debt
