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Test Bank for Public Finance and Public Policy Seventh Edition by Jonathan Gruber

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Test Bank for Public Finance and Public Policy Seventh Edition by Jonathan Gruber Name: Class: Date: Chapter 1 Copyright Macmillan Learning. Powered by Cognero. Page 1 Multiple Choice 1. An early ... response to the Covid-19 pandemic was the $2.2 trillion CARES Act signed into law that included: a. funding for broadband infrastructure, renter's assistance, and food security for low-income households only. b. a mandate for individuals who could not afford health insurance to purchase it or pay a penalty. c. direct payments to American households, unemployment benefits, and payroll protection for small businesses. d. a bailout plan to U.S. automakers to address impending cash shortage, the risk of bankruptcy, and massive job losses. ANSWER: c 2. The goal of public finance is to: a. understand the proper role of corporations in the economy. b. understand the proper role of the government in the economy. c. determine the best way to increase government's role in the economy. d. determine the best way to decrease government's role in the economy. ANSWER: b 3. The goal of public economics, or public finance, is to answer which question? a. How might the government intervene in the economy, and what are the likely effects? b. Why do profit-maximizing firms attempt to set marginal revenue equal to marginal cost? c. How are the terms of trade determined when countries choose to engage in international trade? d. What are the goals and tools of macroeconomic policy [Show More]

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