5.1 Fiscal Policy: Taxes Answers
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proportionallyprogressivelyregressively
A
proportionallyB
progressivelyC
regressively22
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This graph shows US government revenue and expenditures between 1980 and 2010.
T
The government spends less than it receives year over year.T
The government should produce more money to cover spending.T
The government on average spends more than it collects.T
The government needs to lower taxes to cover spending.23
[BLANK]
A
sales taxB
tariffC
excise tax24
expansionarycontractionaryproportional
A
expansionaryB
contractionaryC
proportional25
Which statements best describe sales tax? Check all that apply.
A
Sales tax does not affect low-income groups.B
Sales tax is an indirect tax levied on goods and certain services.C
Sales tax is a type of regressive taxation.D
Sales tax is a direct tax paid by consumers to the government.E
Sales tax affects high-income groups.26
Property taxes are usually determined based on
t
the property owner's income.t
the amount of money invested in the property.t
the earnings generated by the property.t
the value of the property.27
sales taxtariffexcise tax
A
sales taxB
tariffC
excise tax28
Which best describes how expansionary policies can facilitate economic growth?
A
They prompt decreased demand.B
They inspire consumer confidence.C
They increase disposable income.D
They help reduce consumer debt.29
Under an expansionary taxation policy, the government tries to stimulate economic growth by
A
reducing deficits.B
reducing taxes.C
reducing demand.D
reducing spending.30
Under a contractionary taxation policy, the government can reduce the deficit by
i
increasing taxes.r
reducing taxes.i
increasing spending.i
increasing inflation.31
Property taxes are usually determined based on
A
the property owner's income.B
the amount of money invested in the property.C
the earnings generated by the property.D
the value of the property.Did you find these answers helpful?
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