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- 1. Multiple ChoiceWhat is created to monitor the governments revenues & expenditures?fiscal policyfederal budgetfiscal yearintergovernmental revenue
- 2. Multiple ChoiceWhat is the USA's largest tax, that all working people pay?unemploymentincomeFICAproperty
- 3. Multiple ChoiceWhat created the yearly federal budget?fiscal policyfederal budgetfiscal yeartaxes
- 4. Multiple ChoiceWhat is the USA's fiscal year?Jan. 1st - Dec. 31stAug. 1st - July 31stOct. 1st - Sept. 30thNov.1st - Oct. 31st
- 5. Multiple ChoiceWhen must all tax forms be completed and turned in?
Jan. 31st
April 15thJune 1stDec. 31st - 6. Multiple ChoiceWhat is completed every year by USA citizens, to make sure they have paid the correct amount in taxes?
tax returns
tax deductionsfederal budgetautomatic stabliziers - 7. Multiple ChoiceWhat is FICA used for?Social Security & MedicareSocial Security & MedicaidSocial Security, Medicare & MedicaidSocial Security, Medicare, Medicaid, & Supplemental Security Income
- 8. Multiple ChoiceWhat tax covers senior citizens, survivors under 18, & disabled?Social SecurityMedicareMedicaidSupplemental Security Income
- 9. Multiple ChoiceWhat tax is mainly collected to cover a large portion of the USA's services & bills?incomepropertyinheritance/ estatesales
- 10. Multiple ChoiceWhat is the major tax for most local governments?salespropertyvehiclegift
- 11. Multiple ChoiceWhat tax category is sales tax found within?progressiveregressiveproportionalincome
- 12. Multiple ChoiceWhat is NOT considered a tax deduction?interest on mortgagecharity donationsmedical/ household expenseschildren over the age of 18
- 13. Multiple ChoiceWhat can help people pay less in property tax?homestead exemptiontax deductionsrevenuesexpenditures
- 14. Multiple ChoiceWhat tax was NOT paid for, when you purchased gas?salesexciseseverancevehicle
- 15. Multiple ChoiceWhat does a person's boss do with the money they take from their paycheck?pay their billspay for property damages
keep it until the person quits
sends it to the government to pay taxes - 16. Multiple ChoiceWhat happens when a person/ government expenditures exceed their revenues?surplusforms a deficitcreates a balanced budgetnothing happens, it just is that way
- 17. Multiple ChoiceWhat allows a person to loan money to the government for a certain amount of time?loansbondssubsidiesintergovernmental revenue
- 18. Multiple ChoiceWhat is considered an automatic stabilizer?WICtaxesbondssubsidies
- 19. Multiple ChoiceWhat is the USA's federal budget at?
balanced budget
surplusdeficitwe do not have one - 20. Multiple ChoiceWhat is St.Tammany Parish sales tax set at?5%8.75%9%10%
- 21. Multiple Choice
What is NOT a way the government earns money?
investments
renting
fines/ fees
revenue
- 22. Multiple Choice
Where do most governments strive to be, with their federal budget?
deficit
surplus
balanced budget
they do not care
- 23. Multiple ChoiceWhat is NOT a part of homestead exception?$100,000.00 is deductedused on 1 propertytax deductioncompleted when purchase property
- 24. Multiple ChoiceWhat is NOT a social welfare program?FEMAunemploymentWICSupplemental Security Income
- 25. Multiple ChoiceWhat tax category does income tax fall within?progressiveregressiveproportionalall choices given
- 26. Multiple Choice
What is NOT an expenditure within the federal budget?
Military
Taxes
Interest on Debts
Social Securitry
- 27. Multiple ChoiceWhat does Fiscal Policy NOT help the USA achieve?economic growthhigh/ full employmentprice stabilitydecrease in taxes
- 28. Multiple ChoiceWhat tax is NOT paid when purchasing Dorothy's Ruby Slippers?SalesGiftSeveranceExcise
- 29. Multiple ChoiceWhat happens if the legislative & executive branch does not sign/ agree on the federal budget each year?nothing happensgovernment shutdowncreates a deficitcreates more expenditures
- 30. Multiple ChoiceWhat term is used when government/ people earn money?revenueexpenditureintergovernmental revenueautomatic stabilizers
- Answer choicesTagsAnswer choicesTags