In the United States, the Use of Fiscal Policy Tools

question 22

Multiple Choice

In the United States, the use of fiscal policy tools to stabilize the economy gained prominence during

• A) the depression era.
• B) the Kennedy administration.
• C) the Reagan administration.
• D) the Clinton administration.

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Definitions:

Sales Journal

A specialized accounting journal that records the company's sales transactions, typically on credit.

Gross Profit

The difference between revenue and the cost of goods sold before deducting overheads, payroll, taxation, and interest payments.

Accounts Receivable

Money owed to a company by its debtors for goods or services that have been delivered or used but not yet paid for.

Purchases

Merchandise for resale. It is a cost.