1. (TCO 7) Radicals use the term “political economy” instead of “_____,” which is a hard sell these days. 2. (TCO 7) How do Keynesian economic policies differ from the traditional laissez-faire policies developed by Adam Smith? 3. (TCO 7) The 1973 Mideast war allowed members of the Organization of Petroleum Exporting Countries (OPEC) to _____. 4. (TCO 7) What event is largely considered responsible for deterring Johnson’s War on Poverty? 5. (TCO 7) Analyze recent changes to the Foo...

Question: (TCO 7) The Balanced Budget Act of 1997 mandated a balanced federal budget, but what changed to allow Congress to ignore it? Question: (TCO 7) Which of the following would favor a public assistance program, cuts in military spending, more regulation of business and industry, and a progressive tax system? Question: (TCO 7) Conservatives believe that rich people what? Question: (TCO 7) Who was the main architect behind the restoration of classical liberalism in economics during the twent...

Question: Who developed the idea of laissez-faire capitalism? Question: The Balanced Budget Act of 1997 mandated a balanced federal budget, but what changed to allow Congress to ignore it? Question: The statement, “That government is best, which governs least” best characterizes which ideology? Question: At times, _________ have decreased while middle class, wage earners taxes have increased. Question: Who was the main architect behind the restoration of classical liberalism in economics dur...

Question: (TCO 7) The modern welfare state is an invention of US Progress Question: (TCO 7) Which of the following do conservatives tend to stress the most? Question: (TCO 7) The richest 15 percent of Americans control approximately of financial assets in America? Question: (TCO 7) At times, _________ have decreased while middle class, wage earners taxes have increased. Question: (TCO 7) Which of the following is a true statement about liberals and conservatives?