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Terms in this set (32)Which of the following methods are currently being considered by the federal government to deal with climate change? mitigation by reducing emissions promoting alternative technologies adapting to climate change At the federal level, those in the - pay the highest share of their income towards taxes. When discussing state and local taxes, those in the - pay the highest share of their income towards taxes. top 1% ; lowest 20% Which of the following are examples of government policies that promote alternative technologies? subsidies for solar panel manufacturers providing tax incentives for producing clean energy Put the following budget categories in order from the one that takes up the largest percentage of the federal budget to the one that takes up the smallest percentage of the federal budget. mandatory spending such as Social Security and Medicare discretionary spending such as welfare, education, and foreign aid interest on the national debt Place the following events in the history of American economic policy in chronological order. 1. The Great Depression Begins Which of the following are examples of public policy? a law passed by Congress In which decade did environmental regulation first become a priority of the federal government? Enter 1820 for the 1820s, 1940 for the 1940s, etc. 1970 Which of the following are tools that the Federal Reserve can use to carry out monetary policy? Changing the federal funds rate Engaging in open-market operations Which of the following statements are correct? all of the above The Office of Management and Budget prepares the president's budget. The Congressional Budget Office is in the legislative branch. The Office of Management and Budget is in the executive branch. The Congressional Budget Office was created to provide Congress with information about the costs and impacts of potential policies. Which of the following taxes are regressive taxes? Social Security tax One of the main tools of the Federal Reserve is its ability to set short-term interest rates, called the federal funds rate. Why were the Fed's abilities constrained in the wake of the 2008 financial crisis? Interest rates were set to almost zero percent, leaving the Fed no room to reduce them further. Reducing emissions is part of what approach to combating climate change? Migitation Federal government authorized spending on new seawalls to contain flooding due to climate change is an example of what concept? Adaptation The Environmental Protection Agency has weakened regulations of greenhouse gases since 2009. FALSE Which of the following statements describe how the federal government promotes the free market and economic prosperity? The Securities and Exchange Commission provides a transparent and safe capital market. Congress enacts laws that protect people from economic fraud. Which of the following interest groups is consistently considered the most powerful in lobbying the government about economic issues? business organizations Which of the following items are examples of public goods? national defense Democrats generally support laws requiring a higher minimum wage than do Republicans. TRUE Taxing and spending is related to - policy, while - policy is related to regulating the economy through manipulating credit and interest rates. fiscal ; monetary Watch the animation below, and then select which of the following groups are disproportionately likely (relative to their percentage of the population) to earn the minimum wage. young workers Match the political parties to their beliefs about economic policy. higher taxes on the wealthy lower taxes overall reduced
government spending in general increased government spending in general less government regulation in general more government regulation in general Which of the following statements about gross domestic product (GDP) are true? It measures the total value of goods and services produced within a country. It is a traditional measure of a country's economic growth. Categorical grants help achieve which goal of economic policy? promoting business development Which of the following statements would a Keynesian agree with? Governments should run deficits during recessions. The government can soften the effects of a recession. Tax cuts and increased spending during recessions are good ideas. The - is the main part of the government responsible for ensuring that - stays at a reasonable rate, usually around 2 to 3 percent per year. Federal Reserve ; inflation Actions that the - government(s) took after the publication of Upton Sinclair's The Jungle in 1906 and Ralph Nader's Unsafe at Any Speed in 1965 are examples of the desire to -. federal ; protect employees and consumers Which organization sets the president's proposed budget for the year? Office of Management and Budget Using the graphs, sort the following states into those whose minimum wage was higher in 2015 than in 1979 and those whose minimum wage was about the same, after accounting for inflation. Kansas Why are environmental issues often considered economic issues as well? Attempting to solve environmental issues usually imposes an economic cost In 1960, the average price of a loaf of bread was 30 cents. By 1990, the average price was $1.30, and today it is around $3.00. This is a description of what concept? Inflation Imagine that the nation has just entered an unexpected recession. Place the following items in the order in which we would expect them to occur according to a textbook approach to monetary policy. The Federal Reserve lowers the target for the federal funds rate. Consumer interest rates decrease. The number of businesses and individuals taking out loans increases. Economic growth recovers. The Federal Reserve raises the target for the federal funds rate. ... ... Sets with similar terms4.6-4.1340 terms JULIA_HANCOCK8 chapter 1542 terms Dulce_Marcos Chapter 16 Study Guide60 terms kaitie_suhr CengageBrain Chapter 12109 terms J_Causgrove Sets found in the same folderCh 17 Fed Govt Inquizitive24 terms Queen_2_Bee Chapter 18 - Foreign Policy and Democracy43 terms leslieles Posc150 Chapter 12 Inquisitive33 terms shannon3151 Chapter 16. Government and the Economy34 terms thesupercool Other sets by this creator
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Which of the following are tools of the Federal Reserve can use to carry out monetary policy quizlet?The three major tools of the Fed are open market operations, changing reserve requirements, and changing the discount rate.
What does the government achieve through its use of contracting quizlet?What does the government achieve through its use of contracting? Correct: Encouraging desirable corporate behavior.
Which economic theory adopted the idea that cutting the marginal tax rate can actually increase government revenue quizlet?Proponents of Keynesianism argue that government can stimulate the economy by increasing public spending and cutting taxes.
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