Fiscal Policy Performance of the Arroyo Administration
10 Questions
3 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to Lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What were some of the failures of the Arroyo administration's fiscal policy?

  • Achieving a balanced budget, addressing poverty, hunger, and misery, and preparing for global economic convulsions (correct)
  • Achieving a balanced budget and preparing for global economic convulsions
  • Achieving a balanced budget and addressing poverty
  • Addressing poverty and preparing for global economic convulsions

What was one of the main characteristics of the Arroyo administration's fiscal policy?

  • Lack of concern for the budget deficit
  • Inconsistent approach to addressing poverty
  • Consistent zeal in trimming the budget deficit (correct)
  • Lack of preparation for global economic convulsions

What was the public's need during the economic crisis according to the text?

  • Poverty alleviation
  • Increased taxes
  • Financial support from the government (correct)
  • Budget deficit reduction

During which period did the Arroyo administration's fiscal policy persist, albeit toned down?

<p>Economic crisis (C)</p> Signup and view all the answers

What was the preoccupation of the Arroyo administration according to the text?

<p>Budget deficit (C)</p> Signup and view all the answers

Which of the following best defines economics?

<p>The study of how society uses its scarce resources to satisfy unlimited wants and needs (B)</p> Signup and view all the answers

What is scarcity?

<p>The imbalance between human needs and wants and the means of satisfying them (D)</p> Signup and view all the answers

What is utility?

<p>The total satisfaction received from consuming a good or service (A)</p> Signup and view all the answers

What are economic resources?

<p>Goods or services available to produce valuable end-user products (A)</p> Signup and view all the answers

What is labor in economics?

<p>The work, time, and human effort included in the production process (C)</p> Signup and view all the answers

More Like This

Use Quizgecko on...
Browser
Open
Browser
Browser