Question 1

If the economic problem is low productivity and high unemployment, the fiscal policy action on the demand side would be to

Accepted Answer

A)   increase taxes.
B)   cut business taxes.
C)   increase spending.
D)   decrease spending.
E)   None of these answers is correct.F) All of the above
G) A) and E)

Question 2

In which year did the federal budget have a surplus?

Accepted Answer

A)   2000
B)   2004
C)   2007
D)   2010
E)   2013F) B) and E)
G) None of the above

Question 3

The first national park was created at ________ in 1872.

Accepted Answer

A)   Acadia
B)   Yellowstone
C)   Yosemite
D)   Mammoth Cave
E)   the Grand CanyonF) C) and D)
G) D) and E)

Question 4

The first Earth Day was held in

Accepted Answer

A)   1950.
B)   1960.
C)   1970.
D)   1980.
E)   1990.F) B) and E)
G) A) and E)

Question 5

Keynesian economics emphasizes ________ as a means of curtailing economic downturns.

Accepted Answer

A)   reduced taxes
B)   increased government spending
C)   decreased regulation
D)   decreased inflation
E)   increased taxesF) B) and D)
G) A) and B) B

Question 6

Which Republican president said "I am now a Keynesian in economics," which illustrated that the two main parties at that time had much in common?

Accepted Answer

A)   Dwight Eisenhower
B)   Richard Nixon
C)   Gerald Ford
D)   Ronald Reagan
E)   George H. W. BushF) B) and E)
G) B) and D)

Question 7

Earth Day was the brainchild of Senator

Accepted Answer

A)   Ted Kennedy.
B)   Robert Byrd.
C)   Mike Mansfield.
D)   Ted Stevens.
E)   Gaylord Nelson.F) A) and C)
G) C) and D)

Question 8

Of the following countries, which has done the LEAST to reduce greenhouse gas emissions?

Accepted Answer

A)   Germany
B)   France
C)   Great Britain
D)   United States
E)   All of these countries have been about equal in their efforts to reduce greenhouse gas emissions.F) A) and E)
G) All of the above

Question 9

Which country has the HIGHEST annual per capita emissions of carbon dioxide?

Accepted Answer

A)   United States
B)   Russia
C)   Japan
D)   France
E)   Great BritainF) A) and B)
G) C) and D)

Question 10

The era of "new social regulation," which addressed issues such as the environment and worker safety, differed from the previous two eras of regulatory reform in that

Accepted Answer

A)   the Republican Party took the lead in placing additional regulations on business.
B)   the aim was to regulate activities of firms of many types, not just those in a particular industry.
C)   the regulatory agencies were established in a way that prevented the president from having a role in their operations.
D)   the guiding principle was self-regulation-business was given wide leeway in deciding how it would comply with the new requirement.
E)   the guiding principle was overregulation-business would be allowed almost no leeway in deciding how it would comply with new regulations.F) A) and D)
G) A) and E)

Question 11

Government benefits for business include all of the following EXCEPT

Accepted Answer

A)   low-interest loans and government-guaranteed loans.
B)   corporate tax breaks.
C)   a national transportation system.
D)   minimum-wage laws.
E)   a national education system.F) B) and E)
G) A) and E)

Question 12

The Superfund program is designed to

Accepted Answer

A)   bail out financial institutions that are considered too large to collapse.
B)   provide domestic farmers with subsidies in order to remain competitive in the international marketplace.
C)   provide funds for cleaning up badly polluted sites.
D)   provide the president with emergency funds to deal with major natural disasters.
E)   None of these answers is correct.F) B) and E)
G) A) and C)

Question 13

What happened after Lehman brothers went out of business in September of 2008?

Accepted Answer

A)   The stock market rose dramatically.
B)   The stock market rose slightly.
C)   The stock market was essentially unchanged.
D)   The stock market dropped slightly.
E)   The stock market dropped dramatically.F) A) and C)
G) D) and E)

Question 14

The Progressive Era of government regulation focused on

Accepted Answer

A)   strengthening consumer protection by preventing credit agencies from gouging individuals with high levels of debt.
B)   bolstering worker safety by increasing the power of unions and forcing better safety practices on businesses.
C)   increasing environmental protection and strengthening the EPA.
D)   regulating troubled economic sectors, such as banking.
E)   stopping the unfair business practices of the new monopolies, such as the railroads.F) None of the above
G) A) and C) E

Question 15

The highest rate of inflation (13 percent)  since World War II occurred in ________.

Accepted Answer

A)   1955
B)   1963
C)   1979
D)   1991
E)   2002F) B) and C)
G) B) and E)

Question 16

Supply-side economics is based primarily on

Accepted Answer

A)   stimulation of the business (supply)  component.
B)   government stimulation of consumer demands.
C)   a repudiation of trickle-down theory.
D)   increases in taxation.
E)   increases in government regulation.F) A) and B)
G) All of the above

Question 17

As a whole, American politicians have been LEAST willing to do this to combat global warming:

Accepted Answer

A)   reduce carbon emissions.
B)   encourage clean energy.
C)   encourage energy conservation.
D)   consider alternative energy sources.
E)   raise fuel standards for vehicles.F) A) and E)
G) A) and B) A

Question 18

The MAIN purpose of the Troubled Asset Relief Program was to

Accepted Answer

A)   quickly provide jobs to the unemployed.
B)   shore up shaky financial institutions.
C)   lower the rate of inflation.
D)   demonstrate that only the Fed controlled economic policy.
E)   help out the European economy and boost demand for American exports.F) C) and D)
G) A) and B)

Question 19

Monetary policy includes all of the following assumptions EXCEPT that

Accepted Answer

A)   the money supply is the key to sustaining a healthy economy.
B)   too little money in circulation contributes to inflation.
C)   too little money in circulation contributes to a slowdown in consumer buying.
D)   too little money in circulation contributes to a slowdown in production.
E)   too much money in circulation contributes to inflation.F) A) and B)
G) B) and C)

Question 20

What was a major change brought about by the National Labor Relations Act of 1935?

Accepted Answer

A)   It established the national minimum wage.
B)   It broke up business monopolies in order to give workers more choice in employers.
C)   Workers were given the right to bargain collectively.
D)   It eliminated the ability of companies to bargain directly with unions.
E)   It reduced the ability of workers to go on strike indefinitely.F) A) and D)
G) C) and D)

Exam 15: Economic and Environmental Policy: Contributing to Prosperity

If the economic problem is low productivity and high unemployment, the fiscal policy action on the demand side would be to

Correct AnswerverifiedShow Answer

In which year did the federal budget have a surplus?

Correct AnswerverifiedShow Answer

The first national park was created at ________ in 1872.

Correct AnswerverifiedShow Answer

The first Earth Day was held in

Correct AnswerverifiedShow Answer

Keynesian economics emphasizes ________ as a means of curtailing economic downturns.

Correct AnswerverifiedB

Which Republican president said "I am now a Keynesian in economics," which illustrated that the two main parties at that time had much in common?

Correct AnswerverifiedShow Answer

Earth Day was the brainchild of Senator

Correct AnswerverifiedShow Answer

Of the following countries, which has done the LEAST to reduce greenhouse gas emissions?

Correct AnswerverifiedShow Answer

Which country has the HIGHEST annual per capita emissions of carbon dioxide?

Correct AnswerverifiedShow Answer

The era of "new social regulation," which addressed issues such as the environment and worker safety, differed from the previous two eras of regulatory reform in that

Correct AnswerverifiedShow Answer

Government benefits for business include all of the following EXCEPT

Correct AnswerverifiedShow Answer

The Superfund program is designed to

Correct AnswerverifiedShow Answer

What happened after Lehman brothers went out of business in September of 2008?

Correct AnswerverifiedShow Answer

The Progressive Era of government regulation focused on

Correct AnswerverifiedE

The highest rate of inflation (13 percent) since World War II occurred in ________.

Correct AnswerverifiedShow Answer

Supply-side economics is based primarily on

Correct AnswerverifiedShow Answer

As a whole, American politicians have been LEAST willing to do this to combat global warming:

Correct AnswerverifiedA

The MAIN purpose of the Troubled Asset Relief Program was to

Correct AnswerverifiedShow Answer

Monetary policy includes all of the following assumptions EXCEPT that

Correct AnswerverifiedShow Answer

What was a major change brought about by the National Labor Relations Act of 1935?

Correct AnswerverifiedShow Answer

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B

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E

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A

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