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FISCAL POLICY 3 - Chapter 27 11 Fiscal Policy 1 BM27 C...

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Chapter 27 / 11 Fiscal Policy 1) BM27 \ C \\ Fiscal Policy \ 2 \\ Government policies to alter levels of economic activity by changing tax rates, revenues, or government spending, are: (a) supply-side policies. (b) automatic stabilizers. (c) fiscal policies. (d) classical macroeconomic policies. 2) BM27 \ B \\ Fiscal Policy \ 2 \\ The macroeconomic effects of federal taxation are least central to the concept of: (a) fiscal drag. (b) excess capacity theorems. (c) structural budget deficits or surpluses. (d) cyclical budget deficits. (e) Laffer curves. 3) BM27 \ C \\ Government Budgets \ 1 \\ When government’s tax revenues exceed its outlays there is a: (a) budgetary deficit. (b) fiscal crisis. (c) budgetary surplus. (d) growing national debt. (e) depressed economy. 4) BM27 \ E \\ Government Budgets \ 1 \\ The government budget is running a surplus when its: Ralph Byrns Chapter 27 / 11 : Fiscal Policy Test Bank Two 1
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5) BM27 \ A \\ Budget Deficits and Surpluses\ 1 \\ If government purchases and transfer payments exceed government revenues there is a: 6) BM27 \ C \\ Government Spending \ 2 \\ The level and rate of growth of government spending are probably most influenced by the: 7) BM27 \ B \\ Government Expenditures \ 2 \\ If the Pima County Sheriff’s Department hires three more deputies, this shows up directly in the Aggregate Expenditures model as an increase in: (a) transfer payments. (b) government purchases. (c) tax collections. (d) tax rates. 8) BM27 \ A \\ Discretionary Fiscal Policy \ 1 \\ New laws that alter taxes and government outlays to stabilize the economy are part of: 9) BM27 \ C \\ Discretionary Fiscal Policy \ 2 \\ Discretionary Keynesian fiscal policies regulate:
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