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Economics

Quiz by Erik Holm

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20 questions
Show answers
  • Q1
    Using tools to influence the flow of money in the U.S. economy is the best definition for:
    Fiscal Policy
    Economics
    Budgeting
    Monetary Policy
    30s
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  • Q2
    U.S. institution that most relates to monitoring the flow of money in the economy is:
    The Bank of the U.S.A
    The Treasury
    Federal Reserve
    Bank of America
    30s
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  • Q3
    The amount of money a bank must keep on hand to avoid the potential damage of a “run on the bank” is called the
    Danger Level
    Excess Run Requirement
    Acceptable Risk Level
    Reserve Requirement
    30s
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  • Q4
    The rate that the Federal Reserve sets that impacts interest rates consumers pay is known as:
    Open Market Rate
    Securities Rate
    Full Index Rate
    Discount Rate
    30s
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  • Q5
    The Federal Reserve System has the power to:
    Increase or decrease the money supply
    Print or coin money
    Increase or decrease the sales tax rate
    Place tariffs on imports
    30s
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  • Q6
    Which of these actions would the Federal Reserve most likely take to help end a recession?
    Sell government securities
    Reduce the discount rate
    Print more currency
    Increase the reserve requirement
    30s
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  • Q7
    Prices of goods and services rising faster than wages is known as:
    Interest Rate Explosion
    Inflation
    Destabilization
    Internal Banking Implosion
    30s
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  • Q8
    Which of these actions would the Federal Reserve most use to try to slow down the economy and avoid inflation?
    Decrease the Reserve Requirement
    Increase discount rate
    Buy Government Securities
    Print Less Currency
    30s
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  • Q9
    The term most often utilized for an extended but NOT a devastating downturn in the economy is a
    Recession
    Stagflation
    Depression
    Termination
    30s
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  • Q10
    One of the tools the Fed can use when trying to stimulate spending in the economy is to
    Increase securities values
    Hold securities
    Buy securities
    Sell securities
    30s
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  • Q11
    Which of the following is a tool of fiscal policy:
    Printing money
    Interest rates
    Reserve requirement
    Raising/lowering Taxes
    30s
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  • Q12
    Which of these is an economic benefit of lower tax rates?
    better public services
    expanded government programs
    more consumer spending
    larger number of government employees
    30s
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  • Q13
    Which of these is an example of government fiscal policy?
    adjusting the discount rate
    changing the reserve requirement
    conducting open-market operations
    creating budgets
    30s
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  • Q14
    In Congress, representatives from the Northwest are asking for funds to clean up the Pacific Ocean after an oil spill, while representatives from the Southeast are asking for money to rebuild after a devastating hurricane. What problem does this present to Congress?
    choosing representatives to serve on committees
    deciding the role of the local governments in natural disasters
    developing the ability to predict natural disasters choosing representatives to serve on committees
    balancing the needs of different regions
    30s
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  • Q15
    Which of these is the main economic cost of the federal government removing taxes on imported goods?
    a decline in employment opportunities for United States workers with foreign companies
    a decline in the number of people who visit the United States
    a reduction in the number of countries willing to trade with the United States
    a reduction in the ability of United States businesses to compete with foreign companies
    30s
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  • Q16
    “Officials decided to announce they would keep interest rates near zero until the unemployment rate drops to 6.5%” is an example of:
    Unemployment Policy
    Fiscal Policy
    Foreign Policy
    Monetary Policy
    30s
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  • Q17
    “The 2013 budget...included job-creation initiatives for infrastructure, job-training and innovation.” To offset the cost, it “called for raising $1.5 trillion over 10 years from the wealthiest taxpayers and from closing some corporate tax breaks, chiefly for oil and gas companies.” This is an example of:
    Fiscal Policy
    Foreign Policy
    Unemployment Policy
    Monetary Policy
    30s
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  • Q18
    The Fed has identified achievement of ‘substantial’ improvement in the labor market outlook as its main criterion for ending asset purchases.” This is an example of:
    Foreign Policy
    Unemployment Policy
    Fiscal Policy
    Monetary Policy
    30s
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  • Q19
    The U.S. institution that is most involved with creating fiscal policy is
    Justice Dept.
    Supreme Court
    Treasury Dept.
    Congress
    30s
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  • Q20
    Which U.S. leader also plays a role in fiscal policy?
    Senate Majority Leader
    Attorney General
    President
    Chief Justice of the Supreme Court
    30s
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    Delete

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