5 Written Questions
3 Matching Questions
- gross domestic product (GDP)
- economic planning
- Youngstown Sheet & Tube v. Sawyer
- a ...
- b The belief that government plans, such as wage and price controls or the direction of investment, can improve the economy.
- c The total of all goods and services produced in the economy during a given year.
5 Multiple Choice Questions
- The belief that inflation occurs when too much money is chasing too few goods.
5 True/False Questions
US. v. Nixon → The belief that the government must manage the economy by spending more money when in a recession and cutting spending when there is inflation.
16th Amendment → ...
Keynesianism → The belief that inflation occurs when too much money is chasing too few goods.
budget → What occurs when the government in one year spends more money than it takes in from taxes.
budget resolution → A document that states tax collections, spending levels, and the allocation of spending among purposes.