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Economic and Social Policies in the United States Quiz

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Which President signed the Social Security Act into law?

Franklin D. Roosevelt

Explanation

Social Security Act was signed by FDR.

What is the primary purpose of the Federal Reserve System?

Controlling inflation

Explanation

Federal Reserve controls inflation.

Which agency is responsible for enforcing laws related to workplace safety and health?

Occupational Safety and Health Administration (OSHA)

Explanation

OSHA enforces workplace safety laws.

What is the purpose of SNAP, a federal assistance program in the United States?

Offering food assistance

Explanation

SNAP provides food assistance.

Which government agency oversees the collection of federal income taxes in the United States?

Internal Revenue Service (IRS)

Explanation

IRS collects federal income taxes.

Which of the following is NOT a component of Gross Domestic Product (GDP)?

Personal savings

Explanation

Personal savings are not part of GDP.

What economic theory advocates for government intervention in markets during economic downturns?

Keynesian economics

Explanation

Keynesian economics supports govt. intervention in downturns.

Which piece of legislation was enacted to regulate the financial industry following the Great Depression?

Glass-Steagall Act

Explanation

Glass-Steagall Act regulated finance post-Depression.

Which economic concept refers to a sustained, long-term downturn in economic activity?

Depression

Explanation

Depression signifies prolonged economic downturn.

#10

What is the primary tool used by the Federal Reserve to influence monetary policy?

Conducting open market operations

Explanation

Fed influences policy via open market operations.

#11

Which social program provides health insurance for Americans aged 65 and older?

Medicare

Explanation

Medicare provides health insurance for seniors.

#12

What is the main purpose of the Affordable Care Act (Obamacare)?

Providing affordable health insurance

Explanation

Obamacare aims to provide affordable health insurance.

#13

What is the main goal of fiscal policy?

Stabilizing the economy

Explanation

Fiscal policy aims to stabilize the economy.

#14

Which economic theory advocates for reducing government regulation and intervention in the economy?

Supply-side economics

Explanation

Supply-side economics advocates for less govt. intervention.

Economic and Social Policies in the United States Quiz

Which President signed the Social Security Act into law?

What is the primary purpose of the Federal Reserve System?

Which agency is responsible for enforcing laws related to workplace safety and health?

What is the purpose of SNAP, a federal assistance program in the United States?

Which government agency oversees the collection of federal income taxes in the United States?

Which of the following is NOT a component of Gross Domestic Product (GDP)?

What economic theory advocates for government intervention in markets during economic downturns?

Which piece of legislation was enacted to regulate the financial industry following the Great Depression?

Which economic concept refers to a sustained, long-term downturn in economic activity?

What is the primary tool used by the Federal Reserve to influence monetary policy?

Which social program provides health insurance for Americans aged 65 and older?

What is the main purpose of the Affordable Care Act (Obamacare)?

What is the main goal of fiscal policy?

Which economic theory advocates for reducing government regulation and intervention in the economy?

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