Discuss the two major economic worries faced by members of Congress:
unemployment and inflation. What options are available to address them?
What will be an ideal response?
An ideal response will:
1, Discuss the two philosophies for addressing these problems, which are monetary policy and fiscal policy.
2, Explain how members of Congress have few tools available for managing the money supply to manage inflation, which is almost entirely in the hands of the Federal Reserve Board.
3, Explain how members of Congress can use fiscal policy to increase or decrease taxes and government spending to affect unemployment.
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Reform in China has focused on
a. the government. b. the economy. c. the government and the economy. d. personal liberties. e. There has been no reform in China.
Which of the following interest groups would be likely to address the needs of the economically disadvantaged?
a. government interest groups b. professional associations c. economic interest groups d. equal opportunity interest groups e. agricultural interest groups