Political Science Multiple Choice Questions

30. “Subprime” mortgages were given to people who were receiving their first home loanhad low credit ratings and put up a small (if any) depositwere receiving loans on homes of less than $100,000had declared bankruptcy sometime in the previous six months31. GDP, unemployment, and inflation are all measures of a nation’s economic health. TrueFalse32. The largest federal expenditures go for (Points : 2) defenseMedicare / MedicaidSocial Securitythe War on Terror33. The control of the money supply is a responsibility of the Office of Management and BudgetFederal Reserve BoardCongressional Budget OfficeTreasury34. The financial crisis beginning in 2008 was most closely tied to what market? automobilehousingelectronicsagricultural products35. Government decisions regarding taxing, spending, and deficits reflect monetary policyfiscal policyclassical policyKeynesian policy36. Unemployment rates are generally _____ for young people as compared to the general population. (Points : 2) higherlowerabout the same37. Which branch of government typically initiates the budgetary process? (Points : 2) ExecutiveFederalLegislativeSenate38. A _____ tax is one in which the rate of taxation is higher for individuals who earn higher incomes. (Points : 2) ProgressiveDistributiveRegressiveSales39. An entitlement program refers to (Points : 2) A program created by an unfunded federal mandateA program for which people are eligible based on their economic status or ageA regulatory programState-level programs where states must demonstrate entitlement at the federal level40. The name for the federal agency with appointed, long-serving board members that sets monetary policy in order to keep inflation in check and encourage economic growth. (Points : 2) Congressional Budget Office (CBO)Federal Reserve (FED)Office of Management and Budget (OMB)Council of Economic Advisors (CEA)41. The American Recovery and Reinvestment Act (2009) attempted to stimulate economic growth primarily using which economic policy tool? (Points : 2) Government spendingRegulationsDeficit reductionMarket incentives42. The main problem with running a large debt is that (Points : 2) The interest we will have to pay on the debt continues to grow, squeezing out other needsA 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 SecurityAll of the above43. What is the difference between the national deficit and the national debt? (Points : 2) The debt is the yearly amount government expenses exceed revenue. The deficit is the accumulation of the deficits over the yearsThe deficit is based on the distribution of entitlement programs. The debt is the ceiling for the federal budgetThe deficit is the yearly amount government expenses exceed revenue. The debt is the accumulation of the deficits over the yearshe deficit is the portion of the federal budget allocated by Congress. The debt is the portion of the budget allocated by the executive branch44. In general, increasing levels of unemployment will lead to _____ government revenue and _____ government expenditures. (Points : 2) Decreasing / decreasingIncreasing / increasingDecreasing / increasingIncreasing / decreasing45. The economic policy goal of _____ refers to policies that are designed to increase productivity, commerce, sales, employment, and the general pace of activity within the economy. (Points : 2) Full employmentEconomic growthLow levels of inflationManaging debts and deficits46. _____ is critical to all other areas of policy, but is not often recognized for its central role. (Points : 2) Education policyHealth care policyFederal policyEconomic policy47. One of the major challenges facing the U.S. health care system is declining access to care. This includes (Points : 2) The reduction of benefits and difficulty obtaining care among persons enrolled in MedicaidPrivate insurance companies restricting coverage for many servicesMore and more people have jobs that pay low wages and do not provide health insuranceAll of the above48. Which statement describes how most welfare programs are financed and implemented? (Points : 2) The federal government provides much of the funding and state governments manage the programsState governments provide funding for the programs, which are managed by the federal governmentStates fund and manage the programsThe federal government funds and manages the programs49. An increase in consumer goods prices over time is called: (Points : 2) incrementsprice gouginginflationprice ceiling50. _____ policy refers to the government’s budgetary process, and includes the sum-total of taxing and spending. (Points : 2) FiscalRegulatoryMonetaryDistributive

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