AnswersVT-GA-EOC-Personal Finance Economics B ULHSFiscal Policy: Spending

Fiscal Policy: Taxes Answers

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According to the graph, how much did individuals making $20,000 to $50,000 a year pay in income taxes?

Answers:
Selection 1:about $80 billion
Selection 2:about $480 billion
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about $80 billionabout $280 billion✔ about $480 billion

A
about $80 billion
B
about $280 billion
C
✔ about $480 billion
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progressive taxes✔ income taxescorporate taxes

Answers:
Taxes that are paid by individuals on all money earned, including investments, are .:income taxes
Taxes that are paid by homeowners to state and local governments are .:property taxes
Taxes that businesses are required to pay on their earnings throughout the course of a year are.:corporate taxes
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✔ property taxesregressive taxescorporate taxes

A
✔ property taxes
B
regressive taxes
C
corporate taxes
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direct taxesproportional taxes✔ corporate taxes

A
direct taxes
B
proportional taxes
C
✔ corporate taxes
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Based on the information provided, what type of tax has Country Q implemented?

A
an income tax
B
a tariff
C
a corporate tax
D
an excise tax
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Based on what you have read, what type of tax is Robert paying?

A
a tariff
B
a sales tax
C
an excise tax
D
a corporate tax
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What action can the government of Country DF take to encourage citizens to purchase homes?

A
maintain corporate tax rates
B
raise income taxes
C
raise property tax rates
D
lower income taxes for homeowners
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What are the most likely effects of this policy? Check all that apply.

A
Businesses will likely pay workers less.
B
Businesses will likely hire more workers.
C
Businesses will likely earn higher profits.
D
Businesses will likely invest less in the economy.
E
Businesses will likely invest more in the economy.
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What details did you discuss in your response? Check all that apply.

A
the difference between expansionary policy and contractionary policy
B
expansionary policies are used to stimulate the economy and reduce unemployment
C
contractionary polices are used to reduce economic growth and combat inflation

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