All but which one of the following are transfer payments? 
food stamps
farm subsidies
Social Security payments
welfare
the President's salary


Question 2.2. Before Keynes, most economists and politicians believed in
a cyclically balanced budget.
an annually balanced budget.
a structural deficit.
a budget that was balanced only at full employment.


Question 3.3. A laissez-faire attitude toward most markets is most closely associated with
Keynesians.
monetarists.
classical economists.
supply siders.
Reaganomics.


Question 4.4. Keynes advocated expansionary fiscal policy when an economy was
at full-employment output.
experiencing a recession.
experiencing inflation.
at potential output.
in wartime.


Question 5.5. Opponents of discretionary fiscal policy believe that it
tends to limit the size of the government.
generates more surpluses than deficits.
leads to deficits and increased government debt.
tends to limit the size of the government and leads to more surpluses than deficits.


Question 6.6. The sales tax burden on households is 
progressive.
regressive.
proportional.
neutral.
unrelated to a household's income.


Question 7.7. Income security payments account for about what share of federal government spending in the United States? (Points : 1)one-half
one-third
one-fourth
one-fifth
one-eighth


Question 8.8. The federal income tax is 
progressive.
regressive.
proportional.
very regressive.
independent of income.


Question 9.9. A structural deficit 
is the part of the deficit due to being in recession.
disappears when the economy reaches full-employment.
is the part of the deficit that would persist even at full-employment output.
is the result of congressional changes in the budget sent to Congress by the President.
is equal to the deficit other than the part accounted for by the surplus or deficit in the Social Security trust funds.


Question 10.10. The national debt is a burden on future generations if 
it is larger than the one for which the current generation is responsible.
it was incurred to put idle resources to work.
borrowing reduced productive investment and future economic growth.
debt holders are wealthier than the average taxpayer.
the future generation is smaller than the present generation.