Podcast
Questions and Answers
Who is responsible for controlling the money supply and regulating banks in the United States?
Who is responsible for controlling the money supply and regulating banks in the United States?
- The Securities and Exchange Commission
- The Department of Commerce
- The Treasury Department
- The Federal Reserve (correct)
What is the term used to describe the situation when a country's exports exceed its imports?
What is the term used to describe the situation when a country's exports exceed its imports?
- Trade deficit
- Current account surplus
- Trade surplus (correct)
- Balance of trade
What is the main goal of expansionary fiscal policies?
What is the main goal of expansionary fiscal policies?
- To stabilize prices and reduce unemployment
- To increase spending and stimulate economic growth (correct)
- To decrease the budget deficit and promote saving
- To decrease taxes and reduce government spending
What is the term used to describe an increase in the overall price level?
What is the term used to describe an increase in the overall price level?
Which one of these is the most important job of the Federal Reserve?
Which one of these is the most important job of the Federal Reserve?
Who is the current chairperson of the Federal Reserve?
Who is the current chairperson of the Federal Reserve?
How does lowering interest rates affect the demand for money?
How does lowering interest rates affect the demand for money?
How do banks create money?
How do banks create money?
Which one of these is true about the law of demand?
Which one of these is true about the law of demand?
Which one of these is an example of an elastic demand?
Which one of these is an example of an elastic demand?
Which one of these factors can shift the demand curve?
Which one of these factors can shift the demand curve?
Which one of these is true about a price floor?
Which one of these is true about a price floor?
Who benefits from international trade?
Who benefits from international trade?
What is a tariff?
What is a tariff?
Define protectionism. What is the argument in favor of protectionism?
Define protectionism. What is the argument in favor of protectionism?
What is a trade surplus?
What is a trade surplus?
What is a trade deficit?
What is a trade deficit?
What was the purpose of NAFTA?
What was the purpose of NAFTA?
What is economics?
What is economics?
What is the Law of Demand?
What is the Law of Demand?
Which of the following is an example of mandatory spending in the United States?
Which of the following is an example of mandatory spending in the United States?
Which of the following is a goal of fiscal policy?
Which of the following is a goal of fiscal policy?
What is the term used to describe an increase in the overall price level?
What is the term used to describe an increase in the overall price level?
Which of the following is true about the glass ceiling?
Which of the following is true about the glass ceiling?
Which of the following is a characteristic of a progressive tax system?
Which of the following is a characteristic of a progressive tax system?
Which of the following is a characteristic of discretionary spending?
Which of the following is a characteristic of discretionary spending?
Which one of these is the most important job of the Federal Reserve?
Which one of these is the most important job of the Federal Reserve?
Who is the current chairperson of the Federal Reserve?
Who is the current chairperson of the Federal Reserve?
How does lowering interest rates affect the demand for money?
How does lowering interest rates affect the demand for money?
How do banks create money?
How do banks create money?
What is the Fed's most important monetary policy tool?
What is the Fed's most important monetary policy tool?
What policies would the Fed use to fight inflation?
What policies would the Fed use to fight inflation?
According to comparative advantage, which country should focus on producing computers?
According to comparative advantage, which country should focus on producing computers?
What is the purpose of a tariff?
What is the purpose of a tariff?
What is the effect of increasing the money supply?
What is the effect of increasing the money supply?
How can individuals avoid losing value on their savings due to inflation?
How can individuals avoid losing value on their savings due to inflation?
What is the main argument in favor of protectionism?
What is the main argument in favor of protectionism?
What is the definition of interest?
What is the definition of interest?
Which of the following is not one of the three key economic questions?
Which of the following is not one of the three key economic questions?
Which of the following is an example of a positive externality?
Which of the following is an example of a positive externality?
Which of the following is not one of the four primary market structures?
Which of the following is not one of the four primary market structures?
What is the Consumer Price Index (CPI)?
What is the Consumer Price Index (CPI)?
What is a budget deficit?
What is a budget deficit?
What is monetary policy?
What is monetary policy?
Which one of these is true about a price ceiling?
Which one of these is true about a price ceiling?
Which one of these is true about a subsidy?
Which one of these is true about a subsidy?
Which one of these is true about a natural monopoly?
Which one of these is true about a natural monopoly?
Which one of these is true about the elasticity of supply?
Which one of these is true about the elasticity of supply?
Which one of these is true about a trade deficit?
Which one of these is true about a trade deficit?
Which one of these is true about real GDP?
Which one of these is true about real GDP?
