Fiscal Policy - Assessment

1.

Multiple Choice

30 sec

1 pt

What is created to monitor the governments revenues & expenditures?

fiscal policy

federal budget

fiscal year

intergovernmental revenue

2.

Multiple Choice

30 sec

1 pt

What is the USA's largest tax, that all working people pay?

unemployment

income

FICA

property

3.

Multiple Choice

30 sec

1 pt

What created the yearly federal budget?

fiscal policy

federal budget

fiscal year

taxes

4.

Multiple Choice

30 sec

1 pt

What is the USA's fiscal year?

Jan. 1st - Dec. 31st

Aug. 1st - July 31st

Oct. 1st - Sept. 30th

Nov.1st - Oct. 31st

5.

Multiple Choice

30 sec

1 pt

When must all tax forms be completed and turned in?

Jan. 31st

April 15th

June 1st

Dec. 31st

6.

Multiple Choice

30 sec

1 pt

What is completed every year by USA citizens, to make sure they have paid the correct amount in taxes?

tax returns

tax deductions

federal budget

automatic stabliziers

7.

Multiple Choice

30 sec

1 pt

What is FICA used for?

Social Security & Medicare

Social Security & Medicaid

Social Security, Medicare & Medicaid

Social Security, Medicare, Medicaid, & Supplemental Security Income

8.

Multiple Choice

30 sec

1 pt

What tax covers senior citizens, survivors under 18, & disabled?

Social Security

Medicare

Medicaid

Supplemental Security Income

9.

Multiple Choice

30 sec

1 pt

What tax is mainly collected to cover a large portion of the USA's services & bills?

income

property

inheritance/ estate

sales

10.

Multiple Choice

30 sec

1 pt

What is the major tax for most local governments?

sales

property

vehicle

gift

11.

Multiple Choice

30 sec

1 pt

What tax category is sales tax found within?

progressive

regressive

proportional

income

12.

Multiple Choice

30 sec

1 pt

What is NOT considered a tax deduction?

interest on mortgage

charity donations

medical/ household expenses

children over the age of 18

13.

Multiple Choice

30 sec

1 pt

What can help people pay less in property tax?

homestead exemption

tax deductions

revenues

expenditures

14.

Multiple Choice

30 sec

1 pt

What tax was NOT paid for, when you purchased gas?

sales

excise

severance

vehicle

15.

Multiple Choice

30 sec

1 pt

What does a person's boss do with the money they take from their paycheck?

pay their bills

pay for property damages

keep it until the person quits

sends it to the government to pay taxes

16.

Multiple Choice

30 sec

1 pt

What happens when a person/ government expenditures exceed their revenues?

surplus

forms a deficit

creates a balanced budget

nothing happens, it just is that way

17.

Multiple Choice

30 sec

1 pt

What allows a person to loan money to the government for a certain amount of time?

loans

bonds

subsidies

intergovernmental revenue

18.

Multiple Choice

30 sec

1 pt

What is considered an automatic stabilizer?

WIC

taxes

bonds

subsidies

19.

Multiple Choice

30 sec

1 pt

What is the USA's federal budget at?

balanced budget

surplus

deficit

we do not have one

20.

Multiple Choice

30 sec

1 pt

What is St.Tammany Parish sales tax set at?

5%

8.75%

9%

10%

21.

Multiple Choice

30 sec

1 pt

What is NOT a way the government earns money?

investments

renting

fines/ fees

revenue

22.

Multiple Choice

30 sec

1 pt

Where do most governments strive to be, with their federal budget?

deficit

surplus

balanced budget

they do not care

23.

Multiple Choice

30 sec

1 pt

What is NOT a part of homestead exception?

$100,000.00 is deducted

used on 1 property

tax deduction

completed when purchase property

24.

Multiple Choice

30 sec

1 pt

What is NOT a social welfare program?

FEMA

unemployment

WIC

Supplemental Security Income

25.

Multiple Choice

30 sec

1 pt

What tax category does income tax fall within?

progressive

regressive

proportional

all choices given

26.

Multiple Choice

30 sec

1 pt

What is NOT an expenditure within the federal budget?

Military

Taxes

Interest on Debts

Social Securitry

27.

Multiple Choice

30 sec

1 pt

What does Fiscal Policy NOT help the USA achieve?

economic growth

high/ full employment

price stability

decrease in taxes

28.

Multiple Choice

30 sec

1 pt

What tax is NOT paid when purchasing Dorothy's Ruby Slippers?

Sales

Gift

Severance

Excise

29.

Multiple Choice

30 sec

1 pt

What happens if the legislative & executive branch does not sign/ agree on the federal budget each year?

nothing happens

government shutdown

creates a deficit

creates more expenditures

30.

Multiple Choice

30 sec

1 pt

What term is used when government/ people earn money?

revenue

expenditure

intergovernmental revenue

automatic stabilizers

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