POL-211 FINAL EXAM QUESTIONS AND ANSWERS |
LATEST UPDATE
Consistent increases in the prices of goods and services is referred as ___. - Answers -
inflation
The term "laissez-faire" refers to an economic doctrine that was popular in the
eighteenth and
nineteenth centuries. The French term literally means ___. - Answers - "leave us alone"
An economic slowdown characterized by higher unemployment, reduced productivity, or
some other negative economic indicators is ___. - Answers - recession
The Consumer Price Index (CPI) is ___. - Answers - an index of prices for goods and
services regularly traded in the U.S. economy
What level does the federal government consider a realistic minimum unemployment
rate nationwide? - Answers - 5% or 10% in 2009.
The amount of money spent by the government over and above what it collects in taxes
and other revenue in a single year is referred to as ___. - Answers - budget deficit
The most widely accepted and utilized indicator of the overall condition of the stock
market on any given day is ___. - Answers - Dow Jones Industrial Average
What are guaranteed government benefits that certain citizens depend upon for
subsistence? - Answers - entitlements
What is a part of the Executive Office of the President that creates an annual budget
proposal based on the president's program? - Answers - Office of Management and
Budget
What is an economic theory that is based on the principle that taxation, government
spending, and other forms of intervention in the economy can help spur the economy
forward, even during bad economic times? - Answers - Keynesian
Through its practices of buying and selling government securities, the Federal Reserve
controls the money supply in the United States. This process is referred to as ___. -
Answers - open market operations
LATEST UPDATE
Consistent increases in the prices of goods and services is referred as ___. - Answers -
inflation
The term "laissez-faire" refers to an economic doctrine that was popular in the
eighteenth and
nineteenth centuries. The French term literally means ___. - Answers - "leave us alone"
An economic slowdown characterized by higher unemployment, reduced productivity, or
some other negative economic indicators is ___. - Answers - recession
The Consumer Price Index (CPI) is ___. - Answers - an index of prices for goods and
services regularly traded in the U.S. economy
What level does the federal government consider a realistic minimum unemployment
rate nationwide? - Answers - 5% or 10% in 2009.
The amount of money spent by the government over and above what it collects in taxes
and other revenue in a single year is referred to as ___. - Answers - budget deficit
The most widely accepted and utilized indicator of the overall condition of the stock
market on any given day is ___. - Answers - Dow Jones Industrial Average
What are guaranteed government benefits that certain citizens depend upon for
subsistence? - Answers - entitlements
What is a part of the Executive Office of the President that creates an annual budget
proposal based on the president's program? - Answers - Office of Management and
Budget
What is an economic theory that is based on the principle that taxation, government
spending, and other forms of intervention in the economy can help spur the economy
forward, even during bad economic times? - Answers - Keynesian
Through its practices of buying and selling government securities, the Federal Reserve
controls the money supply in the United States. This process is referred to as ___. -
Answers - open market operations
