Short-Term GDP and National Debt: Keynes' Theory

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question 1 of 3

If in fiscal year 2010, the federal government receives $1,800 billion in revenues and spends $1,550 billion on goods and services, what will happen to the national debt?

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1. John Maynard Keynes believed that fiscal policy designed to deal with budgets should _____

2. According to Keynesian economists, if policymakers thought the economy was headed into a recession, what action would be most appropriate?

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About This Quiz & Worksheet

This quiz and worksheet combo helps you gauge your understanding of paying down the national debt and characteristics of growing the economy.

Quiz & Worksheet Goals

Use this quiz and worksheet to review:

  • Fiscal policies
  • Paying down the national debt
  • Keynesian economists
  • Balancing the budget

Skills Practiced

Use this quiz and worksheet to practice the following skills:

  • Interpreting information - verify that you can read information regarding fiscal policies and interpret it correctly
  • Reading comprehension - ensure that you draw the most important information from the related economics lesson
  • Problem solving - use acquired knowledge to solve economics practice problems

Additional Learning

To learn more about national debt and growing economies, review the corresponding lesson titled Short-Term GDP and National Debt: Keynes' Theory. This lesson will help you:

  • Compare and contrast growing the economy and reducing the national debt
  • Identify ways the government can reduce national debt
  • Review beliefs from Keynesian economists
  • Define budget surplus
  • Differentiate budget surplus and budget deficit
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