39. Taxing, Borrowing, And Spending Question Preview (ID: 50838)


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If government spending increases, consumer spending _____ and the economy ________
a) decreases, shrinks
b) increases, grows
c) increases, shrinks
d) decreases, grows

If taxes decrease, consumer spending _____ and the economy ________
a) increases, grows
b) decreases, shrinks
c) increases, shrinks
d) decreases, grows

If taxes increase, consumer spending _____ and the economy ________
a) increases, grows
b) decreases, shrinks
c) increases, shrinks
d) decreases, grows

Which is NOT an example of how the government affects the economy?
a) Taxing
b) Borrowing
c) Spending
d) Changing interest rates

MORE spending ► MORE production ► LESS workers ► LESS spending
a) True
b) False
c)
d)

MORE spending ► MORE production ► MORE workers ► More spending..... which is NOT a possibility this scenario
a) Economy is growing
b) Economy is shrinking
c) Inflation could occur
d) Deflation will not occur

LESS spending ► LESS production ► LESS workers ► Less spending
a) True
b) False
c)
d)

MORE spending ► MORE production ► MORE workers ► More spending
a) True
b) False
c)
d)

If government spending decreases, consumer spending _____ and the economy ________
a) decreases, grows
b) increases, grows
c) decreases, shrinks
d) increases, shrinks

There are no solutions, only trade offs.
a) True
b) False
c)
d)

Government spending grows the economy, but government spending requires higher taxes which shrink the economy. This is an example of what quote by Economist Thomas Sowell.
a) If at first you do not succeed, try try again.
b) There are no solutions, only trade offs.
c) The only thing to fear is fear itself.
d) Today, we're all MMTers

If government borrowing decreases, consumer spending _____ and the economy ________
a) increases, shrinks
b) increases, grows
c) decreases, grows
d) decreases, shrinks

If government borrowing increases, consumer spending _____ and the economy ________
a) increases, shrinks
b) increases, grows
c) decreases, grows
d) decreases, shrinks

What image is used to help students understand how much money is in the economy?
a) a vault full of money
b) a swimming pool full of money
c) money in the desert
d) a mattress with money underneath it

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