POLI330 Week 6 Quiz Latest 2017 November (all Correct answers)

Question 1

3 / 3 pts

(TCO 7) Radicals use the term “political economy” instead of _____ to describe their critique of capitalism and the inequitable distribution of wealth among nations.

Marxism

laissez-faire

public choice

Keynesian

Question 2

3 / 3 pts

(TCO 7) Describe British economist John Maynard Keynes’ proposal to cure economic depressions.

Keynes suggested infusing the economy with government funds to promote spending.

Keynes advocated for “trickle-down” economic policies.

Keynes argued for stronger stimulus packages to corporations and small businesses.

Keynes proposed to cure depressions by dampening the swings of the business cycle.

Question 3

3 / 3 pts

(TCO 7) During the 1970s, critics developed this new term to describe inflation with stagnant economic growth.

Growth Slope

Quagmire

Stagflation

Recession

Question 4

3 / 3 pts

(TCO 7) Between 1965 and 1973, the percentage of Americans living below the poverty line _____.

doubled

greatly decreased

slightly increased

rapidly increased

Question 5

3 / 3 pts

(TCO 7) Which U.S. President is responsible for implementing the Food Stamp program nationwide?

John F. Kennedy

Lyndon B. Johnson

Richard Nixon

Jimmy Carter

Question 6

3 / 3 pts

(TCO 7) Which of the following is an increasing financial concern of the Medicare program?

The proportion of older people in American society is increasing steadily.

Every American citizen obtains Medicare on reaching age 65, regardless of class.

Economic inequality renders Medicare more necessary for some than for others.

Wealthy Americans are taking advantage of the Medicare system.

Question 7

3 / 3 pts

(TCO 7) Many Americans think the federal budget goes primarily toward welfare, which is _____.

absolutely true

somewhat exaggerated

not at all the case

slightly offensive

Question 8

0 / 3 pts

(TCO 7) Compare American and Canadian views on the size of government.

Americans believe the government is too small, and Canadians feel that government intrudes on individual privacy.

America and Canada are similar nations located in North America, and both Americans and Canadians feel that government is too large.

Americans and Canadians generally agree that government should be larger, funding welfare programs such as Medicaid and Food Stamps.

Many Americans believe government is too large, and Canadians recognize that government has a pivotal role to play and accept higher taxes.

Question 9

3 / 3 pts

(TCO 7) What was the poverty line in 2012?

$14,505

$17,060

$23,050

$26,750

Question 10

3 / 3 pts

(TCO 7) Many conservative economists argue that some banks are _____, because they would topple the rest of the economy with them.

inherently successful

too big to fail

destined for profit

practically invincible