Describe the pattern of income growth in the united states

Question

Assignment:

Question 1 Which institutions control fiscal policy?

• Congress and the Fed
• Congress and the president
• the Fed and regulatory agencies
• the president and the cabinet agencies

Question 2 Supply side economic policy is based on

• business regulation
• the Fed.
• government spending programs
• business tax cuts

Question 3 Which approach to stimulating the economy can be enacted/changed most quickly?

• interior policy.
• regulatory policy
• fiscal policy.
• monetary policy

Question 4 Which statement about poverty in America is true?

• Men are more likely than women to live in poverty
• The U.S. has less poverty than do most Western democracies
• Poverty in the U.S. is highest among working-class whites.
• The U.S. has a higher rate of child poverty than do most Western democracies.

Question 5 America's social welfare system includes both social insurance programs and public assistance programs. Which statement about these programs is NOT true?

• The American public has a more favorable opinion of social insurance programs than of public assistance programs.
• Eligibility for social insurance benefits is based on payroll taxes that individuals pay during their working years
• Eligibility for public assistance benefits is based on a means test (that is, individuals must prove their income is low enough to qualify for the benefit).
• Democratic lawmakers and Republican lawmakers differ more in their support for social insurance programs than they do in their support for public assistance programs.

Question 6 After World War II and through the end of the 1960s, the income of the average American increased substantially. Which of the following is NOT among the reasons?

• the strength of the U.S. manufacturing sector
• changes in tax policy
• G.I. Bill
• labor union membership

Question 7 Which statement best describes the pattern of income growth in the United States since the 1970s?

• a sharp rise in income among those with top incomes and stagnant income among those with middle and lower incomes
• a sharp rise in income among those with top and middle incomes and stagnant income among those with lower incomes
• slow income growth in all income categories
• substantial income growth in all income categories

Question 8 The fiscal theory that favors spending by the government as a way to increase economic activity is called

• laissez-faire economics
• Keynesian economics
• supply-side economics
• Reaganomics

Question 9 All of the following are ways that the Fed can deal with economic downturns EXCEPT

• The Fed can lower interest rates
• The Fed can create jobs, which then leads to greater economic demand and thereby boosts productivity.
• The Fed can buy and sell securities
• The Fed can increase the amount of money in circulation by lowering the reserve rate

Question 10 Which political thinker believes the rich do not deserve all of their wealth because of the arbitrary distribution of wealth in society?

• John Rawls
• Robert Nozick
• Milton Friedman
• John Maynard Keynes