PSCI 2305 Final PT 3
Which of the following is a component of a fiscal policy? - Answer- taxation
Which government actor is primarily responsible for implementing US monetary policy? - Answer- the Federal Reserve
What is the president's role in influencing fiscal policy? - Answer- the pres...
PSCI 2305 Final PT 3
Which of the following is a component of a fiscal policy? - Answer- taxation
Which government actor is primarily responsible for implementing US monetary
policy? - Answer- the Federal Reserve
What is the president's role in influencing fiscal policy? - Answer- the president
submits an annual budget to Congress
During a recession, which of the following would an economist be most likely to
suggest? - Answer- increase government spending
What is it called when the federal government spends more money than it takes in
during the year? - Answer- deficit
Which of the following represent the largest source of federal government revenue? -
Answer- Income taxes
On what does the federal government spend the most money? - Answer- entitlement
programs
What is sequestration? - Answer- the freezing of expenditures in order to provide
automatic spending cuts
What area was hardest hit by sequestration? - Answer- defense
Which of the following is among the responsibilities of the Federal Reserve? -
Answer- setting interest rates
Why is membership in the Federal Reserve advantageous for financial institutions? -
Answer- The Federal Reserve provides a safety net in case of economic collapse
What was the Great Recession? - Answer- a financial crisis beginning in the late
2000s
How did Congress follow the Federal Reserve Board's advice at the beginning of the
2008-2009 financial crisis? - Answer- Congress provided a $700 billion bailout
package to aid struggling banks
What is the origin of the American political divide over the proper scope of
government? - Answer- the Federalist/anti-Federalist debates
Which of the following education policies would you expect a liberal to support? -
Answer- federal oversight and funding for all public schools
Which of the following is an example of the disconnect between how people benefit
from government and how people view government? - Answer- The majority of
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