Ec2050 Chapter 16 Quiz

Quiz Submissions - Chapter 16 QuizTop of FormWritten: Jan 12, 2019 6:50 AM - Jan 12, 2019 7:25 AMSubmission ViewYour quiz has been submitted successfully.Question 12 / 2 pointsThe federal budget is defined asA) a monthly statement of whether the U.S. government is in deficit or surplus.B) an annual statement of what policy actions the U.S. government has pursued.C) an annual statement of expenditures and tax revenues of the U.S. government.D) a monthly statement of expenditure laws passed by the U.S. government.E) an annual statement of U.S. government violations of international laws.Question 20 / 2 pointsThe use of the federal budget to achieve macroeconomic objectives of full employment and sustainable economic growth isA) called monetary policy.B) called fiscal policy.C) done only when there is a budget surplus.D) done only when there is a budget deficit.E) called government GDP policy.Question 32 / 2 pointsThe last U.S. president to be in office when the government had a budget surplus wasA) Dwight D. Eisenhower.B) Ronald Reagan.C) George H. Bush.D) Bill Clinton.E) George W. Bush.Question 42 / 2 pointsThe national debt isA) the amount borrowed by the