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- 1. Multiple Choice
Taxes are payments made to the government on a variety of sources. Which of these can be taxed?
income
business profits
general purchase of goods and services
- 2. Multiple Choice
Revenue is the money that the government brings in for use on government expenditures. The term used to define the source of revenue is
tax base
revenue base
money base
money stream
- 3. Multiple Choice
A percentage of money taken from individuals or businesses is referred to as
property tax
excise tax
income tax
sales tax
- 4. Multiple Choice
A tax that takes a higher percentage of money from higher incomes is what type of tax?
sales tax
progressive tax
proportional tax
regressive tax
- 5. Multiple Choice
Government programs that provide people with services as long as they qualify are referred to as
mandatory spending
entitlements
discretionary spending
appropriations
- 6. Multiple Choice
A transfer payment is one in which the government
directly purchases goods and services
provides states or local governments with money for things like education, infrastructure, etc.
loans given to foreign countries for a variety of reasons
money given to people that do not provide goods or services, such as Social Security checks
- 7. Multiple Choice
The fiscal year for the US government runs
January-December
February-January
October-September
July-June
- 8. Multiple Choice
When the government spends more money than it receives in revenue, it is referred to as
debt
deficit
national debt
banrupt
- 9. Multiple Choice
Money that is set aside for a specific purpose, such as defense spending, is called
appropriations
transfer payments
grants-in-aid
discretionary spending
- 10. Multiple Choice
Money that is given to states to cover expenses like roads, education, and healthcare is
appropriations
grants-in-aid
discretionary spending
mandatory spending
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