Fiscal Policy Question Preview (ID: 19856)
Fiscal Policy.
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Which of the following describes a loose or expansionary economy?
a) When spending is higher than revenue (recesson)
b) Supply Side Economics
c) Entitlements
d) Intergovernmental Revenue
Which of the following describes a tight or contractionary economy?
a) Supply Side Economics
b) Intergovernmental Revenue
c) When revenue is higher than spending
d) Entitlements
Which of the follow are the top 3 taxes for the Federal level?
a) Intergovernmental Revenue, Sales tax, state income (not in TX)
b) Income tax, FICA, Corporate tax
c) Intergovernmental Revenue, Property tax, Other tax
d) None of the above
What is an example of Pure Competition?
a) Fruits, veggies, grains, eggs
b) Pens
c) Cereal- Kellogg's,General Mills,Post, ect.
d) None of the above
What is an example of Oligopoly?
a) Fruits, veggies, grains, eggs
b) Pens
c) Cereal- Kellogg's,General Mills,Post, ect.
d) None of the above
Which ammendment gives Congress the power to tax?
a) 4th
b) 8th
c) 9th
d) 16th
What does Supply Side Economics mean?
a) Price Stability
b) Decreasing taxes and spending especially entitlements. Less Government
c) Limited resources, Unlimited wants
d) All of the above
What is Intergovernmental Revenue?
a) taxes influence whether producers and consumers spend or save
b) Governments policy of tax and spending to influence the business cycle
c) Funds collected from one level of gov that are then distributed to another level
d) a phase in the business cycle
What is a sin tax?
a) Entitlements
b) Change Behavior
c) Oligopoly
d) Transfer Payments
What are the different market types?
a) Oligopoly
b) Natural, Georaphic, Technological, and Government monopolies
c) Pure Competition, Monopolistic Competition,Oligopoly, and Monopoly
d) laissez-faire
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