American Political Ideologies and Beliefs
How might an increase in corporate tax rates impact the economy under Keynesian economic policies?
The income gap between rich and poor would disappear.
Deflation would occur immediately.
All corporations would go bankrupt.
There could be less investment by businesses due to higher costs.
How would a supply-side economist likely argue that cutting taxes could affect overall economic growth?
Tax cuts can lead individuals and businesses to invest more, potentially increasing productivity and growth over time.
Tax cuts will reduce consumer demand immediately leading only short-term spikes in economic activity that are unsustainable.
Reducing taxes generally leads to reduced inflation levels which stifles long-term market expansions.
Tax increases are necessary because they allow governments more capital for public service investment stimulating growth directly.
What was the primary purpose of the Glass-Steagall Act in 1933?
To deregulate financial markets
To establish the Federal Reserve System
To separate commercial and investment banking
To create a national currency
Which economic theory believes that lowering taxes on businesses and individuals will increase the incentive to work, save, and invest?
Supply-side economics
Conservative economic policies
Keynesian economics
Liberal economic policies
Which political ideology is most likely to support a policy of increased government spending on social welfare programs?
Libertarianism
Neoconservatism
Liberalism
Conservatism
Which policy outcome would likely result from a Supreme Court interpretation of the Constitution that favors states’ rights over federal power?
Decentralization of authority from federal agencies to state governments.
Nationwide adoption of regulatory standards set by Congress without exception.
Uniform national policies replacing varied state laws on controversial issues.
Increased federal oversight on issues such as education and health care across all states.
Who among the following would be more inclined to push for progressive taxation as part of their economic policy platform?
Constitution party
Republicans
Democrats
Liberetarians

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What ideology supports more government regulation of the marketplace?
Conservative economic policies
Liberal economic policies
Socialism
Centrism
What could be an expected outcome if a meritocratic system replaced the U.S.'s representative democracy in terms of economic policy formulation?
Policies made by representatives voted into power by citizens’ ballots.
Policies crafted by individuals chosen for their economic expertise rather than elected officials.
Policies determined by religious leaders’ interpretation of sacred texts.
Decisions made arbitrarily by a single ruler or small group of elites.
Which alternative political system would likely result in a more equal distribution of wealth through state ownership of production, as opposed to the United States' free-market capitalism?
Socialism
Theocracy
Plutocracy
Oligarchy