Ch.6 Econ

Question 0

What would affecting government regulation affect

Answer 0

Supply

Question 1

What would increasing consumer spending affect

Answer 1

Demand

Question 2

What would increasing investment spending affect

Answer 2

Demand

Question 3

What would increasing productivity affect

Answer 3

Supply

Question 4

What would decreasing government spending affect

Answer 4

Demand

Question 5

What would increasing government regulations affect

Answer 5

Supply

Question 6

If aggregate demand goes up what will happen to price level in real gdp

Answer 6

They will both go up

Question 7

If aggregate supply goes down what will happen to price level and real gdp

Answer 7

Price level will increase and GDP will decrease

Question 8

Is keynesian d or s

Answer 8

Demand

Question 9

Reagonomics d or s

Answer 9

Supply

Question 10

Top down d or s

Answer 10

Supply

Question 11

Bottom up d or s

Answer 11

Demand

Question 12

New deal d or s

Answer 12

Demand

Question 13

Tax breaks to consumers d or s

Answer 13

Demand

Question 14

Tax breaks to producers d or s

Answer 14

Supply

Question 15

Decreasing taxes and government regulation is d or s?

Answer 15

Supply

Question 16

Fiscal policy

Answer 16

The federal government’s use of taxation and spending policies to affect overall economic activity

Question 17

What is the role of CEA?

Answer 17

Assist the president in economic policy

Question 18

What happens to taxes in expansionary fiscal policy

Answer 18

They lower

Question 19

What happens to government spending during expansionary fiscal policy

Answer 19

It increases

Question 20

What happens to the national debt in expansionary fiscal policy

Answer 20

It goes up

Question 21

What is our national debt

Answer 21

18 billion

Question 22

In contractionary policy what are they trying to do to demand pull inflation

Answer 22

Decrease it

Question 23

What happens to taxes in contractionary policy

Answer 23

They rise

Question 24

What happens to government spending in contractionary policy

Answer 24

It lowers

Question 25

What happens to our national debt in contractionary policy

Answer 25

It goes down

Question 26

Progressive tax

Answer 26

National Income tax

Question 27

Regressive tax

Answer 27

Sales tax

Question 28

Proportional tax

Answer 28

Flat tax

Question 29

What month does the fiscal year begin in?

Answer 29

October

Question 30

Mandatory spending

Answer 30

Spending that continues every year and uses 2/3rds of national debt

Question 31

Discretionary spending

Answer 31

Must receive annual authorization

Question 32

What programs must receive annual authorization

Answer 32

Discretionary

Question 33

What spending continues without the need for annual approval of congress

Answer 33

Mandatory

Question 34

What are the 2 largest entitlements

Answer 34

Social security and Medicare

Question 35

What are entitlements

Answer 35

Programs that guarantee particular levels of transfer payments to all who fit the program's criteria

Question 36

What are trust funds

Answer 36

Money set aside for a special purpose

Question 37

What are the four places the government spends the most money

Answer 37

Social security Medicare Military Interest on bonds

Question 38

Crowding out effect

Answer 38

A decrease in private investment caused by higher interest rates that result from the federal government's increased borrowing to finance deficits