4.9: Ideology and Economic Policy Making

Front

What does fiscal policy refer to?

Back

Decisions about government spending and taxation

Front

Who controls fiscal policy in the United States?

Back

Congress

Front

What does monetary policy refer to?

Back

Decisions about how much money should be in the economy

Front

Who controls monetary policy in the United States?

Back

The Federal Reserve

Front

Which economic theory do liberals generally support?

Back

Keynesian economics

Front

Which economic theory do conservatives generally support? Options: Keynesian economics, Marxist economics, Supply-side economics, Behavioral economics

Back

Supply-side economics

Front

What is the main focus of supply-side economics?

Back

Supporting businesses to produce more goods

Front

How do conservatives generally view government intervention in the economy?

Back

They prefer minimal intervention.

Front

What is the primary economic role of the government according to libertarians?

Back

To protect personal property rights and ensure voluntary trade

Front

Which ideology favors the least amount of government intervention in the economy?

Back

Libertarian