Fiscal Policy and Debt
Multiple Choice Questions
After watching the Fiscal Policy and Debt video lecture, consider the question(s) below. Then “submit” your response.
Question
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Question
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After watching the Fiscal Policy and Debt video lecture, consider the question(s) below. Then “submit” your response.
Question
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Question
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Question
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Short Answer/Discussion Questions
After watching the Fiscal Policy and Debt video lecture, consider the question(s) below. Then “submit” your response.
Question
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Suggested solution: Discretionary spending covers programs such as defense, education, transportation, and environmental protection. Discretionary spending is subject to the annual budget and appropriations cycle worked out by the president and the Congress. As a result, the total level of this type of spending and the programs it supports can vary from year to year. (Answers may vary.)
Question
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Suggested solution: Expansionary fiscal policies are designed to increase aggregate demand during recessions. These policies may include actions such as increased federal spending and lower taxes. Contractionary fiscal policies are designed to restrain aggregate demand when the economy is overheating, resources are scarce, and inflation is growing. These policies may include reduced federal spending and increased taxes. (Answers may vary.)
Question
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Suggested solution: As of now, the level of national debt is manageable since the debt’s share of GDP, as well as market interest rates, are low. The future answer to this question depends on interest rates and government spending decisions, especially in response to the mandatory spending commanded by growing programs such as Social Security and Medicare. (Answers may vary.)