Econ 104 Bill Goffe Final Exam Prep Newest 2026-

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Econ 104 Bill Goffe Final Exam Prep Newest 2026- 2027 Actual Exam With Complete Questions And Correct Detailed Answers (Verified Answers) |Already Graded A+

If the President and Congress made decisions that increase the federal budget deficit, how will GDP growth change?It will grow more quickly.It will grow at the same rate.It will grow more slowly.It will grow more quickly

Which of the following best describes the CARES Act?It was an example of Congress and the President working together to increase the amount of money in the economy.It was an example of a major tax cut designed to speed economic growth.It was an example of monetary policy.It was the largest example of fiscal policy to date.It was the largest example of fiscal policy to date.

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If the President and Congress make decisions that decrease the budget deficit, GDP will most likely grow ___.more quickly at the same rate more slowly more slowly

If federal expenditures suddenly increased (say to fight a pandemic), which is most likely to happen?the government will print more money taxes will be raised the government will borrow more the government will borrow more

Which of the following is the most likely response if inflation was at 10%?the Fed would be raising interest rates the Fed would be lowering interest rates the federal government would be raising taxes the federal government would be lowering taxes 2 / 4

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the Fed would be raising interest rates

During and after the Covid Recession, monetary policy was ___, while fiscal policy was ___.little used, little used used extensively, little used little used, used extensively used extensively, used extensively used extensively, used extensively

Why was the Fed created in 1913?to control inflation to avert bank panics to maximize employment to collect taxes to avert bank panics

Which of the following does the President have the most control over?monetary policy 3 / 4

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fiscal policy fiscal policy

Which would be the best example of the dual mandate in action?the Fed lowering the federal funds rate if the unemployment rate was rising the Fed lowering the federal funds rate if the unemployment rate was falling the federal government cutting taxes if the unemployment rate was falling the federal government cutting taxes if the unemployment rate was rising the Fed lowering the federal funds rate if the unemployment rate was rising

One responsibility of the Fed is paying back the federal debt. (True or False) False

In part, the dual mandate describes how ___ should respond to __.the Fed, high inflation

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