Question 1

Discuss the following national trends related to the U.S. workforce: labor force participation by women.

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Question 2

What is monetary policy?

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Question 3

Provide an example of a regressive tax.

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Question 4

What are the benefits of full employment?

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Question 5

What is the difference between the federal deficit and the federal debt? How does the deficit relate to economic growth?

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Question 6

Define inflation.

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Question 7

How does an increase in unemployment levels affect the federal budget?

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Question 8

Tax policy includes a variety of methods used to increase revenues. Explain the variables of taxation noted by
b. Guy Peters (2006).

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Question 9

What is the national debt?

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Question 10

How is inflation measured?

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Question 11

Describe the positions that opposing sides take with regard to the U.S. balance of trade. Why do some argue that a negative balance of trade is undesirable, while others argue that a negative balance of trade is not a problem?

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Question 12

Explain fiscal policy.

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Question 13

What does economic growth mean?

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Question 14

Explain three policy options available to the U.S. government to reduce its annual deficits and accumulating national debt. For each option, discuss considerations relative to that option, such as economic, political, or equity concerns.

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Question 15

What does the Bureau of Labor Statistics do?

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Question 16

Discuss the two major ways that the federal government can reduce the deficit. In your discussion, explain the advantages and obstacles to each major approach.

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Question 17

What does the Federal Reserve Board (Fed) do?

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Question 18

Discuss how the Federal Reserve (Fed) can use monetary policy to affect the economy. What is the impact of this action?

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Question 19

Explain the difference between fiscal policy and monetary policy. How does each tool work? Who is responsible for them?

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Question 20

Provide an example of a progressive tax.

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Quiz 7: Economic and Budgetary Policy