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- 1. Multiple Choice
Why are taxes important?
They help us to get rid of money we don't need.
They are the main income of the government.
They help the government to see if you can keep your house or not.
They help by getting rid of a lot of cash so we do not become rich.
- 2. Multiple Choice
What are public goods?
Certain goods and services that individuals and businesses acting alone cannot provide efficiently.
Money you pay to the government to keep your home.
Something that you give to the government to make them happy.
Something you do to help out your big city.
- 3. Multiple Choice
What is an example of a public good?
Giving somebody a present on their birthday.
Holding open a door for somebody.
Building a park for the towns people.
Going to your mayor and giving him 500 dollars.
- 4. Multiple Choice
What is a main source of revenue for the federal government?
Income tax
Property tax
Sales tax
Some money you gave to a random person you saw on the street.
- 5. Multiple Choice
Payments made by individuals and corporations based on income received.
Sales tax
Income tax
Property tax
Some money you owed to a bank
- 6. Multiple Choice
A tax consumers pay on many items they purchase. It is a percentage of the sale price.
Real estate tax
Property tax
Income tax
Sales tax
- 7. Multiple Choice
A tax levied on land and buildings. Property tax may also be levied on personal property such as boats or cars.
Property tax
Sales tax
Some money you paid after you bought a toy for your friends birthday.
Income tax
- 8. Multiple Choice
What are the three main taxes?
Sales tax
property tax
real estate tax
income tax
- 9. Multiple Choice
What does FTC stand for?
Federal tax commission
Federal trade commission
Federal transportation commission
Federal taco commission
- 10. Multiple Choice
What does SEC stand for?
A shortened version of second.
Securities and Exchange Commission
Securities for Elders Commission
Securities and Extra Commission
- 11. Multiple Choice
What does FCC stand for?
Fortified coastline commission
Frosted cake commission
Federal celebration commission
Federal Communications Commission
- 12. Multiple Choice
The government promotes marketplace competition by?
supporting business startups
engaging in global trade
enforcing antitrust legislation
all of the above
- 13. Multiple Choice
What is a monopoly?
a business who controls an entire industry and has no competition.
A boardgame
A place where somebody owns everything in a big city
A big business that controls only 25 percent of the taco stores in a neighborhood.
- 14. Multiple Choice
What would happen if we did not pay taxes?
The government would get rich.
The government would lose their main source of income.
The government would start stealing from the people.
The government would start building to make the U.S. safer.
- 15. Multiple Choice
What is one characteristic of public goods?
Would not likely be available if individuals had to provide them.
They help a small amount of people.
They will help nobody.
They are provided by individuals and businesses.
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