Economics
Quiz by Erik Holm
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20 questions
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- Q1Using tools to influence the flow of money in the U.S. economy is the best definition for:Fiscal PolicyEconomicsBudgetingMonetary Policy30sEditDelete
- Q2U.S. institution that most relates to monitoring the flow of money in the economy is:The Bank of the U.S.AThe TreasuryFederal ReserveBank of America30sEditDelete
- Q3The amount of money a bank must keep on hand to avoid the potential damage of a “run on the bank” is called theDanger LevelExcess Run RequirementAcceptable Risk LevelReserve Requirement30sEditDelete
- Q4The rate that the Federal Reserve sets that impacts interest rates consumers pay is known as:Open Market RateSecurities RateFull Index RateDiscount Rate30sEditDelete
- Q5The Federal Reserve System has the power to:Increase or decrease the money supplyPrint or coin moneyIncrease or decrease the sales tax ratePlace tariffs on imports30sEditDelete
- Q6Which of these actions would the Federal Reserve most likely take to help end a recession?Sell government securitiesReduce the discount ratePrint more currencyIncrease the reserve requirement30sEditDelete
- Q7Prices of goods and services rising faster than wages is known as:Interest Rate ExplosionInflationDestabilizationInternal Banking Implosion30sEditDelete
- Q8Which of these actions would the Federal Reserve most use to try to slow down the economy and avoid inflation?Decrease the Reserve RequirementIncrease discount rateBuy Government SecuritiesPrint Less Currency30sEditDelete
- Q9The term most often utilized for an extended but NOT a devastating downturn in the economy is aRecessionStagflationDepressionTermination30sEditDelete
- Q10One of the tools the Fed can use when trying to stimulate spending in the economy is toIncrease securities valuesHold securitiesBuy securitiesSell securities30sEditDelete
- Q11Which of the following is a tool of fiscal policy:Printing moneyInterest ratesReserve requirementRaising/lowering Taxes30sEditDelete
- Q12Which of these is an economic benefit of lower tax rates?better public servicesexpanded government programsmore consumer spendinglarger number of government employees30sEditDelete
- Q13Which of these is an example of government fiscal policy?adjusting the discount ratechanging the reserve requirementconducting open-market operationscreating budgets30sEditDelete
- Q14In 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 committeesdeciding the role of the local governments in natural disastersdeveloping the ability to predict natural disasters choosing representatives to serve on committeesbalancing the needs of different regions30sEditDelete
- Q15Which 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 companiesa decline in the number of people who visit the United Statesa reduction in the number of countries willing to trade with the United Statesa reduction in the ability of United States businesses to compete with foreign companies30sEditDelete
- 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 PolicyFiscal PolicyForeign PolicyMonetary Policy30sEditDelete
- 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 PolicyForeign PolicyUnemployment PolicyMonetary Policy30sEditDelete
- Q18The 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 PolicyUnemployment PolicyFiscal PolicyMonetary Policy30sEditDelete
- Q19The U.S. institution that is most involved with creating fiscal policy isJustice Dept.Supreme CourtTreasury Dept.Congress30sEditDelete
- Q20Which U.S. leader also plays a role in fiscal policy?Senate Majority LeaderAttorney GeneralPresidentChief Justice of the Supreme Court30sEditDelete