AnswersIL-EconomicsFiscal Policy: Spending

Fiscal Policy: Spending Answers

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1
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In President Obama's speech about the federal budget, which government policy is he speaking about?

A
trade policy
B
monetary policy
C
regulatory policy
D
fiscal policy
2
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Which details did you include in your answer?

A
What Obama's fiscal goals are
B
Where Obama would like to focus spending
C
The reasons that citizens should understand the national budget
3

What is the main goal of the creation of the federal budget?

A
to allow the economy to run on its own
B
to slow most economic progress
C
to manage businesses and increase spending on all programs
D
to decide how to manage the government’s tax revenue and expenditures
4

What is the purpose of the president’s statement?

A
to show how changes in fiscal policy can affect the economy
B
to show the size of the deficit relative to GDP
C
to show how large the national debt was when he took office
D
to show how he plans to reduce the national debt
5

What does it mean to measure a government's deficit "relative to the size of the economy"?

A
to compare the size of the deficit to productivity
B
to compare the size of the deficit to the unemployment rate
C
to measure the deficit as a percentage of the economy or GDP
D
to measure the deficit as a percentage of tax revenues
6

What does it mean to make "difficult choices" when creating a federal budget?

A
deciding how to keep interest rates on the national debt low
B
deciding which country to borrow from to finance spending
C
deciding how much to lend and how much to tax
D
deciding what will be funded and what will be cut
7

In this statement, which type of spending is President Obama referring to?

A
mandatory
B
discretionary
C
interest
D
tax
8

Which aspects of economic growth is the president addressing in this passage? Select all that apply.

A
ways to inject capital into the economy
B
ways to improve fiscal policy
C
ways to encourage increased productivity
D
ways to decrease unemployment
E
ways to create a balanced budget
9

In President Obama's speech about the federal budget, which government policy is he speaking about?

A
trade policy
B
monetary policy
C
regulatory policy
D
fiscal policy
10

What is the main goal of the creation of the federal budget?

A
to allow the economy to run on its own
B
to slow most economic progress
C
to manage businesses and increase spending on all programs
D
to decide how to manage the government’s tax revenue and expenditures
11

What is the purpose of the president’s statement?

A
to show how changes in fiscal policy can affect the economy
B
to show the size of the deficit relative to GDP
C
to show how large the national debt was when he took office
D
to show how he plans to reduce the national debt
12

What does it mean to measure a government's deficit "relative to the size of the economy"?

A
to compare the size of the deficit to productivity
B
to compare the size of the deficit to the unemployment rate
C
to measure the deficit as a percentage of the economy or GDP
D
to measure the deficit as a percentage of tax revenues
13

What does it mean to make "difficult choices" when creating a federal budget?

A
deciding how to keep interest rates on the national debt low
B
deciding which country to borrow from to finance spending
C
deciding how much to lend and how much to tax
D
deciding what will be funded and what will be cut
14

In this statement, which type of spending is President Obama referring to?

A
mandatory
B
discretionary
C
interest
D
tax
15

Which aspects of economic growth is the president addressing in this passage? Select all that apply.

A
ways to inject capital into the economy
B
ways to improve fiscal policy
C
ways to encourage increased productivity
D
ways to decrease unemployment
E
ways to create a balanced budget
16

In three to four sentences, summarize the overall message within President Obama’s speech.Use what you have learned throughout the lesson to explain why it is important that citizens understand the government’s budget.

Answer:

President Obama’s fiscal goals include lowering the national debt and focusing spending on important priorities, especially education. He believes investing in education will help keep the U.S. economy strong in the future. Citizens should understand the government’s budget because spending decisions affect their taxes and the services available to people. Understanding the budget helps citizens evaluate the government’s choices and priorities.

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5.3 Fiscal Policy: Spending