STR8 Facts
Ideas
Policies
Methods
In-Depth
100
1 year beginning on any date.
What is fiscal year.
100
the idea that every 1 dollar of government spending creates more than one dollar in economic activity.
What is multiplier effect.
100
school of economics that believe tax cuts help the economy.
What is supply side economics.
100
sets money aside for specific spendings.
What is appropriations bill.
100
Used to achieve economic growth, full employment, and price stability.
What is fiscal policy.
200
budget for federal governments income and spending for upcoming year.
What is federal budget.
200
form of demand - side economics encourages government action.
What is keynesian economics.
200
policy with lower spending, and higher taxes.
What is contractionary policies.
200
TRUE OR FALSE: Can a appropiation bill become a budget law?
YES
200
Explains how much should be spent on programs such as defence, education, and scientific research.
What is fiscal budget.
300
Office that manages the federal budget
What is Office of Management and Budget (OMB)
300
the idea that free markets regulate themselves.
What is classical economics.
300
a policy that increases spending, but has tax cuts.
What is expansionary policy.
300
max output economy can sustain over period of time without raising prices.
What is productive capacity
300
Give an example government can do to increase demand, prices, and output.
What is varies. Sample Answers Include: tax cuts increasing its spending buying more goods hire more workers
400
agency providing economic data to congress.
What is Congressional Budget Office. (CBO)
400
Adam Smith and David Ricardo are considered
What is classical economics.
400
policy using government spending and income to influence economy.
What is fiscal policies.
400
Government program that changes due to GDP (Gross Domestic Product) and a persons income.
What is automatic stabilizer.
400
World War II, Vietnam War, Reagans Reign in office, Bush and Clintons presidences all have what in common?
What is the government spent much more money than took in. (Recession)
500
The CEA council of Economic Advisers consists of
What is 3 respected economists.
500
Arthur Laffers idea is .....
What is Laffer curve.
500
President Franklin D. Roosevelt created a fiscal policy that put people to work.
What is New Deal
500
Economist who made a laffer curve to illustrate effects of taxes.
What is Arthur Laffer.
500
What is a negative effect of fiscal policy?
What is can be difficult to put into practice due to all of the parties involved.
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