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OABPOS1041 Quiz 9
OAB POS1041 Lesson 9: U.S. Domestic Policy
| Question | Answer |
|---|---|
| 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 |
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