ECO 2013 Final Exam Review
Quiz
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Business
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University
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Medium
Jay Guerrero
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52 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Discretionary fiscal policy is:
natural changes in real gross domestic product
natural changes in taxes and gov't spending made by previous congresses
deliberate changes in taxes and gov't spending implemented by Congress
deliberate changes in real gross domestic product
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Fiscal policy refers to deliberate changes in government spending and taxes to:
promote economic instability, full employment, and price level instability
promote economic growth, full natural employment, and price inflexibility
promote political and social intervention in economics
promote economic growth, full employment, and price level stability
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Expansionary fiscal policy is so named because it is designed to expand what?
government expenditures
investment
tax revenues
real output
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Contractionary fiscal policy shifts the aggregate demand curve in what direction?
upward
downward
rightward
leftward
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Expansionary fiscal policy shifts the aggregate demand curve in what direction?
upward
downward
rightward
leftward
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Refer to the diagram, in which Qf is the full employment output. Contractionary fiscal policy would be most appropriate if this economy's present aggregate demand curve were at:
AD0
AD1
AD2
AD3
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
With built-in stability, what does an increase in domestic income mean?
a reduction in a budget deficit/production of a budget surplus
a reduction of a budget surplus/production of a budget deficit
an increase in government expenditures and tax revenues
a decrease in government expenditures and tax revenues
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