Economic Concepts and Policies Assessment

Economic Concepts and Policies Assessment

Assessment

Interactive Video

Business

9th - 12th Grade

Hard

Created by

Sophia Harris

FREE Resource

The video explores the debate on whether the U.S. government should balance its budget like a household. It explains the government's budget process, the difference between deficit and debt, and the challenges in balancing the budget. The role of borrowing, the Federal Reserve, and the impact of stimulus and austerity policies are discussed. The video concludes with a call for viewer interaction.

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary role of the executive branch in the U.S. budget process?

To draft the initial budget request

To approve the final budget

To allocate funds to different states

To collect taxes

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the difference between a deficit and the national debt?

Deficit is the amount borrowed from foreign investors, while national debt is borrowed domestically

Deficit is the yearly shortfall, while national debt is the total debt

Deficit is the amount spent on military, while national debt is spent on social programs

Deficit is the total debt, while national debt is the yearly shortfall

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who primarily holds U.S. debt?

International Monetary Fund

Private banks

American people through treasury securities

Foreign governments

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the Federal Reserve's role in economic crises?

To manage international trade

To cut government spending

To print new money and adjust interest rates

To increase taxes

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What economic theory supports government spending to boost the economy during a recession?

Keynesian economics

Austerity

Monetarism

Supply-side economics

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main criticism of austerity measures?

They cause trade deficits

They lead to hyperinflation

They decrease economic activity and tax revenue

They increase government debt

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was the impact of the Recovery Act of 2008?

It led to a new recession

It helped reverse the great recession

It caused hyperinflation

It increased unemployment

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