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Test Bank For Essential Foundations of Economics 6th Edition By Robin Bade Michael Parkin (All Chapters, 100% Original Verified, A+ Grade) $28.49
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Essential Foundations Of Economics 6e Robin Bade M
Essential Foundations of Economics 6e Robin Bade M
Exam (elaborations)
Test Bank For Essential Foundations of Economics 6th Edition By Robin Bade Michael Parkin (All Chapters, 100% Original Verified, A+ Grade)
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Essential Foundations of Economics 6e Robin Bade M
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Essential Foundations Of Economics 6e Robin Bade M
This Is The Original 6th Edition Of The Test Bank From The Original Author All Other Files In The Market Are Fake/Old Editions. Other Sellers Have Changed The Old Edition Number To The New But The Test Bank Is An Old Edition.
Test Bank For Essential Foundations of Economics 6th Edition By Robin...
Essential Foundations of
Economics 6e Robin Bade
Michael Parkin (Test Bank
All Chapters, 100%
Original Verified, A+
Grade)
All Chapters Are Reversed From
20-1
Part 1: CH 20-11: Page 2-1088
Part 2: CH 10-1: Page 1089-2282
, Part 1
Essential Foundations of Economics, 6e (Bade/Parkin)
Chapter 20 Fiscal Policy and Monetary Policy
20.1 The Federal Budget and Fiscal Policy
1) The federal budget
A) is required to balance by law.
B) can have a surplus but not a deficit.
C) can have a deficit but not a surplus.
D) can have a deficit or a surplus but cannot be balanced.
E) can have a deficit, a surplus, or a balance.
Answer: E
Topic: Federal budget process
Skill: Level 1: Definition
Section: Checkpoint 20.1
Status: NAU
AACSB: Reflective thinking
2) In the United States for the year 2012, the federal government had a ________ so the national
debt was ________.
A) budget deficit; increasing
B) balanced budget; not changing
C) budget surplus; decreasing
D) budget deficit; decreasing
E) budget surplus; increasing
Answer: A
Topic: Federal budget
Skill: Level 1: Definition
Section: Checkpoint 20.1
Status: MR
AACSB: Reflective thinking
3) If the federal government has a budget surplus, then it is definitely the case that
A) tax revenue exceeds government outlays.
B) tax revenue and government outlays are equal.
C) the tax revenue is falling and government outlays are rising.
D) government outlays exceed tax revenue.
E) the tax revenue is rising and government outlays are falling.
Answer: A
Topic: Budget surplus
Skill: Level 1: Definition
Section: Checkpoint 20.1
Status: AA
AACSB: Reflective thinking
1
.
,4) The government has a budget surplus if
A) there is no national debt.
B) tax revenue is greater than outlays.
C) government outlays are greater than tax revenue.
D) the budget is balanced.
E) a fiscal stimulus is being used to combat a recession.
Answer: B
Topic: Budget surplus
Skill: Level 1: Definition
Section: Checkpoint 20.1
Status: NAU
AACSB: Reflective thinking
5) When tax revenue exceed the government's outlays, the budget
A) has a deficit and the national debt is increasing.
B) is balanced and the national debt is decreasing.
C) has a surplus and the national debt is decreasing.
D) has a surplus and the national debt is increasing.
E) None of the above because by law tax revenue cannot exceed the government's expenditures.
Answer: C
Topic: Budget surplus
Skill: Level 1: Definition
Section: Checkpoint 20.1
Status: DMC
AACSB: Reflective thinking
6) When tax revenue ________ outlays is positive, then the government has a budget ________.
A) minus; surplus
B) divided by; surplus
C) minus; deficit
D) plus; deficit
E) plus; surplus
Answer: A
Topic: Budget surplus
Skill: Level 1: Definition
Section: Checkpoint 20.1
Status: BWS
AACSB: Reflective thinking
2
.
, 7) When the government's expenditures exceed its tax revenue, the budget
A) has a deficit and the national debt is increasing.
B) is balanced and the national debt is increasing.
C) has a surplus and the national debt is increasing.
D) has a deficit and the national debt is decreasing.
E) None of the above because by law the government's expenditures cannot exceed its tax
revenue.
Answer: A
Topic: Budget deficit
Skill: Level 1: Definition
Section: Checkpoint 20.1
Status: DMC
AACSB: Reflective thinking
8) If the federal government has a budget deficit, then it is definitely the case that
A) the tax revenue exceed government outlays.
B) the tax revenue and government outlays are equal.
C) the tax revenue is falling and government outlays are rising.
D) government outlays exceed tax revenue.
E) the tax revenue is rising and government outlays are falling.
Answer: D
Topic: Budget deficit
Skill: Level 1: Definition
Section: Checkpoint 20.1
Status: AA
AACSB: Reflective thinking
9) When government outlays exceed tax revenue, the situation is called a budget
A) with a negative balance.
B) deficit.
C) surplus.
D) debt.
E) with no balance.
Answer: B
Topic: Budget deficit
Skill: Level 1: Definition
Section: Checkpoint 20.1
Status: CT
AACSB: Reflective thinking
3
.
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