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Fiscal Vs. Monetary Policy
Test Description: A test comparing facts from fiscal and monetary policies.
Instructions: Answer all questions to get your test result.
1) If the economy of a country is in a recession with high unemployment what should the fed do?
A
Raise the reserve ratio
B
Sell Bonds in the open market
C
Buy bonds in the open market
D
Increase the discount rate
2) Which policy takes longer usually to take effect?
A
Fiscal
B
Monetary
3) If there is a recession which policy should be used?
A
Fiscal
B
Monetary
4) Which of these is NOT a tool of monetary policy?
A
Increase or decrease taxes
B
Moving the discount rate
C
Open market operations
D
Move the reserve requirement
5) The fed controls which policy?
A
Fiscal
B
Monetary
6) Fiscal and monetary policy are similar because...
A
Both of them affect the AD
B
Both of them have the same lags
C
Both of them affect the AS
D
Both of them are countercyclical
7) Which of these is NOT a goal of the monetary policy?
A
Promote maximum employment
B
Keep stable prices
C
Have long-term interest rates be moderate
D
Control the government revenue
8) Fiscal policy theories are based on which famous economist?
A
David Hume
B
John Maynard Keynes
C
Thomas Robert Malthus
D
Irving Fisher
9) Fiscal Policy is controlled by the...
A
President
B
Government
C
Treasurer
D
Fed
10) Government bonds are more likely to be used with which policy?
A
Monetary
B
Fiscal
*select an answer for all questions
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