ch16 - ch16 Student: _ 1. Alternating periods of economic...

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ch16 Student: ___________________________________________________________________________ 1. Alternating periods of economic growth and contraction are referred to as: A. Fiscal policy. B. The business cycle. C. A policy lever. D. The fiscal cycle. 2. The business cycle is defined as: A. Alternating periods of economic growth and contraction. B. Changing wages and prices. C. An effort to reach full employment. D. The growth of real GDP. 3. Which of the following are used as policy tools? A. Population growth, spending behavior, and invention. B. Wars, natural disasters, and trade disruptions. C. Taxes, government spending, and the availability of money. D. External shocks and internal market forces. 4. A government spending hike can best be characterized as: A. Fiscal policy only. B. Both fiscal and supply-side policy. C. Both monetary and fiscal policy. D. Supply-side policy only. 5. A tax cut can best be characterized as: A. Monetary policy only. B. Fiscal policy only. C. Both Monetary and supply-side policy. D. Both fiscal and supply-side policy. 6. Fiscal policy includes: A. The discount rate. B. Education and job training. C. Changes in government spending. D. Changes in interest rates. 7. Which of the following is an example of fiscal policy? A. An increase in income taxes. B. Deregulation of financial institutions. C. Relaxed immigration laws. D. An increase in the discount rate. 8. Which of the following is an example of fiscal policy? A. Airline Deregulation Act of 1978. B. Jobs and Growth Tax Relief Act of 2003. C. Americans with Disabilities Act 1990. D. Immigration Act of 1990. 9. Which of the following is an example of fiscal policy? A. The Federal Reserve cuts interest rates sharply in 2007. B. The use of wage and price controls to curb inflation. C. The Deficit Reduction Act of 1984. D. Family Leave Act of 1993.
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10. Fiscal policy includes: A. Immigration policy. B. Changes in government spending. C. Changes in the reserve requirement. D. Government regulation. 11. Fiscal policy is determined by: A. The Federal Reserve System. B. Congress through government expenditures. C. Government through regulatory agencies. D. Businesses through investment. 12. A decrease in government expenditure shifts the aggregate: A. Supply curve to the left. B. Supply curve to the right. C. Demand curve to the left. D. Demand curve to the right. 13. Which of the following will increase aggregate demand? A. Expansionary fiscal policy. B. A decrease in the growth of the money supply. C. A policy of laissez faire. D. Supply-side options, such as deregulation. 14. Automatic stabilizers include: A. Changes in the money supply that are initiated by the Fed. B. Discretionary fiscal policy that must be determined by Congress. C. Government spending changes that are triggered by the economy, not government decision-makers.
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This note was uploaded on 01/24/2012 for the course BIOLOGY 1000 taught by Professor Joseph during the Fall '11 term at St. John's.

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ch16 - ch16 Student: _ 1. Alternating periods of economic...

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