Managing the Economy with Fiscal and Monetary Policies


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question 1 of 3

Which of the following is true about fiscal policy?

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1. What are the three main tools or methods the Federal Reserve uses in implementing monetary policy?

2. When the Federal Reserve lowers the discount rate, what will happen?

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About This Quiz & Worksheet

This quiz and worksheet combo can help gauge your knowledge of monetary and fiscal policies and how they differ. You will be quizzed on roles of the Federal Reserve, as well as characteristics of monetary and fiscal policies.

Quiz & Worksheet Goals

This quiz and worksheet combo can help you review:

  • Roles of the Federal Reserve
  • Goals of fiscal and monetary policies
  • What happens when personal tax rates are decreased
  • Tools used by the Federal Reserve in order to implement monetary policy

Skills Practiced

This quiz and worksheet combo can help you practice the following skills:

  • Interpreting information - verify that you can read information regarding the Federal Reserve and interpret it correctly
  • Information recall - access the knowledge you have gained regarding fiscal and monetary policies
  • Reading comprehension - ensure that you draw the most important information from the related economic lesson

Additional Learning

To learn more about fiscal and monetary policy, review the accompanying lesson on Managing the Economy with Fiscal and Monetary Policies. This lesson covers the following objectives:

  • Identify characteristics of fiscal policy
  • Compare and contrast fiscal policy and monetary policy
  • Examine the tools used by the Federal Reserve to implement monetary policy
  • Determine how the economy is managed