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PLS 101 FINAL EXAM NEWEST 2024 QUESTIONS AND DETAILED CORRECT ANSWERS
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PLS 101 FINAL EXAM NEWEST 2024 QUESTIONS AND DETAILED CORRECT ANSWERS
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PLS 101 FINAL EXAM NEWEST 2024QUESTIONS AND DETAILED CORRECT
ANSWERS
What are the major policy tools the US government can
use to to manage the economy? Correct Answer Fiscal
and monetary policies
What is a fiscal policy? Correct Answer a tool of economic
management by which government can attempt to
maintain a stable economy through its taxing and
spending policies
What is a monetary policy? Correct Answer a tool of
economic management based on manipulation of the
amount of money in circulation
When the economy is in a recession, what can
government do to get out of it? Correct Answer lower
interest rates, increase spending and decrease taxation
When did the first wave of economic regulation occur and
what issues did it address? Correct Answer the
Progressive Era in the late 1800's, reformers sought to
stop unfair business practices of newly founded
monopolies
When did the second wave of economic regulation occur
and what issues did it address? Correct Answer the Great
, Depression, when reformers sought to regulate troubled
economic sectors, such as the banking sector
When did the third and final wave of economic regulation
occur and what issues did it address? Correct Answer
during the 60's, reformers addressed environmental
protection, consumer protection and worker safety.
How did the older wave of environmental policy differ from
the newer one? Correct Answer the older one focused
more on the preservation of the physical land that the US
occupied (i.e. national parks), newer one focuses more on
the harmful effects of air, water and ground pollutants
How does the US compare to most other Western
countries in terms of reducing greenhouse gas emissions?
Correct Answer the US has plenty of ground to make up in
relation to other developed countries in terms of tons of
CO2 per capita annually. The US far out-paces every
other country.
What is demand-side fiscal policy? Correct Answer when
the economy is sluggish, the government is responsible to
increase spending to place additional capital in
consumer's pockets, this is supposed to encourage
consumers to spend money, reviving a troubled economy
What is supply-side fiscal policy? Correct Answer when
the government steps back from the economy, reeling in
taxes and regulations in hopes that with the additional
capital through the lowering of taxes that companies will
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