Inflation and Stagflation (continued) — Unit test Answers

What is a primary economic goal of governments?

In which situation would government regulation most likely be necessary?

A purpose of government regulation in a mixed-market economy is to protect

A regulatory agency that protects workers is

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Which of these is a banking activity of the Fed?

A graph shows the U S Government and Expenditures from 1980 to 2010. The money spent and money received generally follow the same trend, but around 2008, the amount of money spent increased and money received decreased.

Revenue and expenditures are sitting on a balance. Expenditures are lower than revenue.

A graph titled Total U S Government Spending as Percentage of G D P from 1990-2012 has year on the x-axis and percentage of G D P on the y-axis, from 15 to 30 percent in increments of 5. The percentage of G D P is lowest at 18 percent in 2001 and highest at 25 percent in 2009.

A diagram shows that taxes go into the government, which then go into spending.

In the year 2013, which of these fields has the largest percentage of workers?

What is the main goal in creating the federal budget?

Under an expansionary taxation policy, the government tries to stimulate economic growth by

What is one benefit for US workers who have a college degree rather than a high school diploma?

Which best describes a central bank's primary role?

Government regulation is intended to

When an economy suffers from low production, a country cannot

Why is the Fed often referred to as a “lender of last resort,” or the last lender to turn to in a crisis?

Rules ensuring that businesses offer safe products to consumers are part of a nation's

When governments inject money into the economy, which of the following are their goals? Check all that apply.