Response to the following multiple choice questions;
1.When the economy grows, often inflation increases as well. This condition illustrates the principle of ____.
interrelationship of economic goals
increasing balances of the economy
fiscal policy failure
competition of economic goals
2.Equity concerns are central when it comes to _____ policies, since different groups of people pay for and benefit from these policies.
redistributive
regulatory
monetary
salient
3.The aging of the Baby Boom generation has led to growing interest in reform of government programs such as Medicare and Social Security. Similarly, immigration policy is in the spotlight because of the influx of immigrants to the United States. These are examples of the ___ influencing policy.
moral context
social context
political context
governing context
4.This decision-making tool studies the expected outcomes of a policy proposal while also calculating the expected financial impact.
Cost-benefit analysis
Risk assessment
Implementation analysis
Forecasting
5.Which statement accurately reflects the activity of lobbying by interest groups?
Lobbying refers to putting illegal pressure on legislators.
Lobbying refers to making contributions to legislators to influence their votes.
Lobbying refers to testifying before Congress.
Lobbying refers to providing information on policy positions to legislators.
6.When the government encourages you to buy a home and allows you to take a deduction for the mortgage interest, it is using this form of government action:
Taxing and spending
Regulating
Educating
Charging fees
7.Today, entitlement programs consume roughly __% of the federal budget.
10
20
50
80
8.One of largest challenges facing the Obama administration has been _______, which led to the government shutdown in October 2013.
the growing federal deficit
the need for education reform
the need to address unemployment
foreign policy, especially the relationship between the United States and Russia
9.The main problem with running a large debt is that
the interest we will have to pay on the debt continues to grow, squeezing out other needs.
a growing portion of debt is owned by foreigners (including other countries).
we will have less money available to fund growing programs like Medicare and Social Security.
All of the above