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Fiscal Policy: Taxes Answers

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1
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High government expenditures can lead to a bigger

A
revenue.
B
stimulus.
C
deficit.
D
surplus.
2
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Which programs or projects are most likely funded by taxes paid by the citizens of the United States? Select three options.constructing a highwaypublic school fundingdeveloping a vacation resortbuilding of private homesmaintaining state parks

A
constructing a highway
B
public school funding
C
developing a vacation resort
D
building of private homes
E
maintaining state parks
3

How are progressive taxes and regressive taxes similar?

A
Both charge high-income individuals more.
B
Both are considered flat taxes.
C
Both generate revenue for public services.
D
Both are types of indirect taxes.
4

A sales tax is a type of

A
progressive tax.
B
indirect tax.
C
proportional tax.
D
direct tax.
5

Which of these best describes income tax?

A
regressive tax
B
indirect tax
C
direct tax
D
proportional tax
6

Which best explains how contractionary policies can hamper economic growth?

A
They increase consumer demand.
B
They can increase inflation.
C
They reduce taxes which raises deficits.
D
They reduce disposable income.
7

sales taxtariffexcise tax

A
sales tax
B
tariff
C
excise tax
8

Governments collect taxes to ensure that

A
there is sufficient money to fund private businesses.
B
citizens contribute to meeting society's needs.
C
politicians get paid in a timely manner.
D
a government program exists for every need that arises.
9

Under a contractionary taxation policy, the government can reduce the deficit by

A
increasing taxes.
B
reducing taxes.
C
increasing spending.
D
increasing inflation.
10

If expansionary taxation policies encourage growth, are they always appropriate to implement?

A
No, government services could encourage growth but other practices could be more effective based on the economic situation.
B
Yes, the private sector can easily and affordably replace all services and facilities cut by the government.
C
No, the government is capable of providing many but not all services individuals and businesses need.
D
Yes, the government will still ensure that individuals and businesses continue to receive all necessary services.

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