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- Social Science
- Political Science
- Politics of the United States
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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
2. Franklin Roosevelt starts the New Deal
3. Keynesianism becomes the dominant economic theory in the American politics.
4. Supply-side economics gains popularity
Which of the following are examples of public policy?
a law passed by Congress
a
federal rule issued by an agency
a court ruling
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
State sales 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
interstate highway system
cleaner air
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
women
white workers
Match the political parties to their beliefs about economic policy.
higher taxes on the wealthy
Correct label:
Democratic Party
lower taxes overall
Correct label:
Republican Party
reduced
government spending in general
Correct label:
Republican Party
increased government spending in general
Correct label:
Democratic Party
less government regulation in general
Correct label:
Republican Party
more government regulation in general
Correct label:
Democratic Party
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
California
Illinois
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.
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