5 Written Questions

1. ...
2. Automatic spending cuts.
3. The total deficit from the first presidency down to the present.
4. The belief that lower taxes and fewer regulations will stimulate the economy.
5. Managing the economy by altering the supply of money and interest rates.

3 Matching Questions

1. gross domestic product (GDP)
2. economic planning
3. Youngstown Sheet & Tube v. Sawyer

1. a ...
2. b The belief that government plans, such as wage and price controls or the direction of investment, can improve the economy.
3. c The total of all goods and services produced in the economy during a given year.

5 Multiple Choice Questions

1. ...
   1. Reaganomics
   2. deficit
   3. entitlement
   4. graduated income tax
2. ...
   1. monetarism
   2. Gerrymandering
   3. Keynesianism
   4. Reaganomics
3. ...
   1. entitlement
   2. national debt
   3. 17th Amendment
   4. budget
4. The belief that inflation occurs when too much money is chasing too few goods.
   1. deficit
   2. monetarism
   3. monetary policy
   4. Keynesianism
5. ...
   1. fiscal policy
   2. critical realignment
   3. entitlement
   4. fiscal year (FY)

5 True/False Questions

1. 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.

   True        False

2. 16th Amendment → ...

   True        False

3. Keynesianism → The belief that inflation occurs when too much money is chasing too few goods.

   True        False

4. budget → What occurs when the government in one year spends more money than it takes in from taxes.

   True        False

5. budget resolution → A document that states tax collections, spending levels, and the allocation of spending among purposes.

   True        False