CHAPTER 18 Economic Policy

CHAPTER 18 Economic Policy

Complete Chapter Questions With Answers

Sample Questions Are Posted Below

MULTIPLE CHOICE

The amount the government spends in excess of what it takes in each year is called the __________.

ANS: D REF: 471 NOT: F OBJ: LO1

ANS: C REF: 471 NOT: F OBJ: LO1

a.	a warning about the U.S. housing market.
b.	an opinion in support of the U.S. Congress and its efforts to lower the federal debt.
c.	a first-ever warning about America’s national debt.
d.	a call to focus on a measure other than GDP growth.
e.	a call for the U.S. federal government to spend more.

ANS: C REF: 472 NOT: F OBJ: LO1

The total value of all a nation’s goods and services produced each year is called

a.	adjusted production value.
b.	consumer price index.
c.	gross domestic product.
d.	goods measure.
e.	international trade product.

ANS: C REF: 472 NOT: F OBJ: LO1

The huge new demands for Social Security benefits and medical payments under Medicare is largely due to

a.	the population getting older.
b.	increases in benefits in those programs.
c.	the increasing numbers of young workers in the American economy.
d.	recent changes to make the programs less generous.
e.	None of the above is true.

ANS: A REF: 472 NOT: C OBJ: LO3

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