Fiscal Policy and Economic Concepts

Fiscal Policy and Economic Concepts

Assessment

Flashcard

Social Studies

12th Grade

Hard

Created by

Danielle Danielle.Warner

Used 1+ times

FREE Resource

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8 questions

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1.

FLASHCARD QUESTION

Front

Fiscal policy to increase real GDP when below potential

Back

Increase government purchases

2.

FLASHCARD QUESTION

Front

Effect of contractionary fiscal policy on aggregate demand curve

Back

Shifts the aggregate demand curve to the left to close a recessionary gap

3.

FLASHCARD QUESTION

Front

Definition of transfer payments

Back

Payments the government makes to households who meet entitlement criteria set by Congress

4.

FLASHCARD QUESTION

Front

Examples of government transfer programs

Back

Social Security, Medicare/Medicaid, Unemployment Payments, Food Stamps

5.

FLASHCARD QUESTION

Front

Fiscal policy to combat unemployment

Back

Increasing government purchases

6.

FLASHCARD QUESTION

Front

True or False: Government can use contractionary fiscal policy to address inflation

Back

True

7.

FLASHCARD QUESTION

Front

Policy options for a recessionary gap

Back

List two fiscal policy options to move the economy closer to potential real GDP

8.

FLASHCARD QUESTION

Front

Policy options when output exceeds potential GDP

Back

List two fiscal policy options to move the economy closer to potential real GDP