The term laissez-faire refers to an economic doctrine that was popular in the eighteenth and nineteenth centuries. The French term literally means
a. remove the government.
b. the government is the father.
c. tax cut.
d. leave us alone.
e. life is a circus.
Question -2-Which of the following is NOT a purpose of the federal budget?
a. It creates a comprehensive plan laying out what the government will spend.
b. It sets limits on the profitability of key industries and service companies.
c. It limits spending for various programs.
d. It details how the government expects to raise money.
e. It is the primary instrument by which the federal government manages fiscal policy.
Question -3-Consistent increases in the prices of goods and services is referred as
a. fiscal policy.
b. price fixing.
c. inflation.
d. cost modification.
e. scaling.
Question -4-What is a policy that deals with how to raise revenue through taxation and how to spend the revenue generated?
a. budgeting
b. economic manipulation
c. political prioritization
d. social policy
e. fiscal policy
Question -5-During which stage of the policymaking process does a bureaucratic agency translate law into action through the adoption of administrative regulations?
a. formulation stage
b. recognition stage
c. adoption stage
d. evaluation stage
e. implementation stage
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