Jenkins Econ Unit Test: Fiscal and Monetary Policy
SSEMA3 Explain how the government uses fiscal policy to promote price stability, full employment, and economic growth.
a. Define Fiscal Policy.
b. Explain the effect on the economy of the government’s taxing and spending decisions in promoting price stability, full employment, and economic growth.
c. Explain how government budget deficits or surpluses impact national debt.
SSEPF3 Explain how changes in taxation can have an impact on an individual’s spending and saving choices.
a. Define progressive, regressive, and proportional taxes.
SSEMA2 Explain the role and functions of the Federal Reserve System.
a. Explain the roles/functions of money as a medium of exchange, store of value, and unit of account/standard of value.
b. Describe the organization of the Federal Reserve System (12 Districts, Federal Open Market Committee (FOMC), and Board of Governors).
c. Define monetary policy.
d. Define the tools of monetary policy including reserve requirement, discount rate, open market operations, and interest on reserves.
e. Describe how the Federal Reserve uses the tools of monetary policy to promote its dual mandate of price stability, and full employment, and how those affect economic growth
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The total time allowed for this quiz is 1 hour and 1 minute. |
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