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OABPOS1041 Quiz 9

OAB POS1041 Lesson 9: U.S. Domestic Policy

Public policy is an act of government to address a matter of public concern, for example, pollution of the environment. True
Match each of the stages of the public policy process below with its associated description. You must match all of the selections correctly to earn any points for this question. The information that you need to answer this question correctly is located on Slide 4 of the U.S. Domestic Policy lecture (Part 1).
Identify the two key areas that domestic social policy seeks to address from the list below (check both that apply) income security health care
A non-means-tested social welfare program in place today that addresses the health care needs of the elderly is known as Social Security Medicare
If your income is below a threshold established by the government, then you may qualify to benefit from certain means-tested programs
If someone is below retirement age and belongs to a 4-member household with total annual income of less than $25,100 per year, then they most likely qualify for which of the following means-tested social welfare programs? Check ALL that apply. Supplemental Nutrition Assistance Program (SNAP) Medicaid
The financial contribution that individuals must make to Social Security equals approximately ______ of their salary or wages. 6%
U.S. fiscal policy is associated with the taxing and spending policies of the government
The 2019 fiscal year period of the federal government begins on October 1, 2018 and ends on September 30, 2019
A federal budget surplus occurs when government outlays (spending) exceed receipts (revenue). False
The FY 2019 federal budget plans for a _________ of __________. deficit; $984 billion
Government entitlement programs are part of the mandatory expenses of the federal budget. True
The difference between mandatory and discretionary spending in the federal budget is that spending on mandatory programs is optional whereas spending on discretionary programs is required by law. False
The largest discretionary expense in the FY 2019 U.S. federal budget is for Defense
The largest mandatory expense in the FY 2019 U.S. federal budget is for Social Security
One positive benefit that possibly could result from a large annual federal budget deficit is that it can replace some private sector spending in the economy that is reduced during periods of recession
The total (gross) national debt of the United States in FY 2019 is expected to be about $23 trillion
The U.S. government's budget deficit is funded in large part by the sale of U.S. Treasury bonds
U.S. monetary policy is associated with the regulation of the nation's money supply and interest rates
"The Fed" is an abbrieviated way to refer to the Federal Reserve Board, which oversees the nation's central bank
The current chairperson of the Federal Reserve Board who oversees the nation's central bank is Jerome Powell
Inflation occurs when the demand for goods and services is greater than the available supply of goods and services. True
Which of the following is a monetary policy tool of the Federal Reserve? Raising or lowering interest rates
Lowering the Fed discount rate is intended to stimulate a slowing economy
If the national economy is in recession, one way for the Fed to address it would be to reduce the money supply False
Created by: PBSC eLearning
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