Unit_08_-_Chap_13-14_Quiz

Unit_08_-_Chap_13-14_Quiz - Points Awarded Points Missed...

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Points Awarded 10.00 Points Missed 0.00 Percentage 100% 1. If the Congress passes legislation to cut taxes to counter the effects of a severe recession, then this would be an example of a. A) Political business cycle. B) Contractionary fiscal policy C) Discretionary fiscal policy. D) Nondiscretionary fiscal policy. Points Earned: 1.0/1.0 Correct Answer(s): C 2. The type of policy making time lag which elapses between the beginning of a recession or an inflationary episode and the identification of the macroeconomic problem is referred to as a(n): A) Budget lag B) Recognition lag C) Operational lag D) Administrative lag. Points Earned: 1.0/1.0 Correct Answer(s): B 3. The public debt is the: A) Amount of U.S. paper currency in circulation. B) Ratio of all past deficits to all past surpluses. C) Total of all past deficits minus all past surpluses. D) Total of all past deficits.
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Points Earned: 1.0/1.0 Correct Answer(s): C 4. The crowding-out effect of borrowing to finance the public debt:
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This note was uploaded on 10/08/2010 for the course ECON 002 taught by Professor Mcleod,markpehlivan,ayseozg during the Summer '08 term at Penn State.

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Unit_08_-_Chap_13-14_Quiz - Points Awarded Points Missed...

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