Give two significant examples to illustrate each of the ways in which the federal government affects the political economy of the United States.
What will be an ideal response?
The ideal answer should include:
1. Example 1: In 2017, the Trump administration signed the Tax Cuts and Jobs Act. It cut individual income tax rates, doubled the standard deduction, and eliminated personal exemptions. The Act cut the corporate tax rate from 35% to 21% beginning in 2018. This was done in order to stimulate corporate investment and, to a lesser extent, individual investment and spending.
2. Example 2: The Federal Reserve sets interest rates in response to inflation. When the Fed is concerned about prices rising too fast, it will raise rates. And when inflation is "anemic," it will lower them to prompt more borrowing activity. In general, adjusting the interest rates represents one way in which the government responds to economic conditions such as economic downturns, market crashes, or high inflation.
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Which of the following is a constitutional requirement for serving as president?
A. being a resident of the United States for 10 years B. being a member of Congress for at least one term C. being a native-born citizen D. having no felony convictions
The Supreme Court has ruled that states can limit abortions if the regulations do not pose which of the following?
a. a bar to equal protection b. a due process violation c. a prior restraint d. an undue burden
In France, first-order civil divisions are known as departments
Indicate whether this statement is true or false.
Though the Constitution allows states to create their own legislative boundaries, gerrymandering in favor of any partisan or racial group is expressly forbidden by law
Indicate whether the statement is true or false