“Fiscal policy” is the federal government’s plan for
A. international trade, designed to balance exports and imports.
B. spending and taxes, designed to influence the level of aggregate demand.
C. manipulating the money supply and the control of interest rates.
D. All of the above are correct.
Answer: B
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A subprime mortgage loan is a loan granted to persons who
A) have unusually good credit ratings and who represent a very low risk of default on the debt repayment. B) are borrowing funds to purchase a business, rather than a home. C) might have low credit ratings or some other factors that lead lenders to believe that they could default on the debt repayment. D) work for the government, rather than those who work in the private sector.
Which of the following is not an important source of revenue for the federal government?
A. Corporate income taxes. B. Property taxes. C. Payroll taxes. D. Personal income taxes.