TRC CH 17 - 7.6 trillion $ 2004 national debt 16th ammend...

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Unformatted text preview: 7.6 trillion $ 2004 national debt 16th ammend ratiied act-tax reform -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 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-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------ TEST REVIEW QUESTION CH 17 1. MOST VOTERS WHETHER CONSERVATIVE OR LIBERAL LOOK TO THE GOVT IN WASHINGTON TO PROVIDE REMIDIES TO THE COUNTRIES ECONOMIC PROBLEMS, SUCH AS A. UNEMPLOYMENT B. INFLATION C. HIGH INTERST RATES 2. THE GOVT. HAS COMMITTED ITSELF NOT SIMPLY TO SOLVING ECONOMIC PROBLEMS BUT ALSO ASSU=MING A KEY ROLE IN THE NATIONS ECONOMIC SYSTEM BY A. REGULATING BUSINESS B. GIVING ECONOMIC SUPPORT TO THE UNEMPLOYED, THE POOR, AND RETIRED PERSONS C. USING THE GOVT. TAXING AND SPENDING POWERS TO TRY TO CONTROLL THE BUSINESS CYCLE, THE LEVEL OF UNEMPLOYNEMT AND INFLATION 3. IS IT TRUE OF KEYNES VIEW OF ECONOMICS, THAT DEFICIT SPENDING BY THE GOVT. IS NECESSARY TO COMBAT RECESSSION TRUE 4. ARE THE FOLLOWING TOOLS AVAILABLE TO THE PRESIDENT IN MAKIN ECONOMIC POLICY A. COUNCIL OF ECONOMIC ADVISORS B. NATIONAL ECONOMIC COUNCIL C. THE OFFICE OF MANIGMENT AND BUDGET 5. WHO HAS THE CONSTITUTIONAL POWER TO SPEND FUNDS CONGRESS 6. WHICH OF THE FOLLOWING IS A LOOP-HOLE IN THE TAX LAW? A. TAKING EXPENSE-ACCOUNT DEDUCTIONS B. SETTING UP FOUNDATIONS C. INVESTING IN TAXFREE MUNICIPAL BONDS 7. DOES THE FEDERAL RESERVE BOARD ATTEMPT TO MANAGE THE ECONOMY BY DOING THE FOLLOWING? A. BUYING AND SELLING GOVT. BONDS B. raising and loweriNG the discount rate C. RAISING/LOWERING MARGINAL REQUIREMENTS FOR PERSONS BUYING SECURITIES ...
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