The Ideal Quiz On Economy Ch 12 Review
9 Questions
| Total Attempts: 1298
There are different things that affect the economy, as we know it. One thing that exists in almost every economy is debt; it is used as a source of capital for different investments. Take this ideal review quiz on economy chapter 12 and get to learn more about the facts about the economy.
Questions and Answers
- 1.The Council of Economic Advisers was established to give economic advice to Congress.
- A.
True
- B.
False
- 2.Discretionary fiscal policy is independent of Congress and left to the discretion of state and local governments.
- A.
True
- B.
False
- 3.Expansionary fiscal policy during a recession or depression will create a budget deficit or ass to an existing budget deficit.
- A.
True
- B.
False
- 4.To increase the initial consumption by a specific amount, government must reduce taxes by more than that amount because some of the tac cut will be saved by households.
- A.
True
- B.
False
- 5.A reduction in taxes and an increase in government spending would be characteristic of a contractionary fiscal policy.
- A.
True
- B.
False
- 6.Borrowing from the public is the way a budget surplus is financed.
- A.
True
- B.
False
- 7.The creation of new money is more expansionary than borrowing from the public as a way of financing deficit spending.
- A.
True
- B.
False
- 8.Using a budget surplus to pay off a large public debtmay reduce anti-inflationary impact of the surplus.
- A.
True
- B.
False
- 9.The impounding of a budget surplus means that it is used for tax cuts,
- A.
True
- B.
False
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