Fiscal Policy Answers
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What gives Congress the power to raise taxes to fund services?
A
the Federal Reserve BankB
the Internal Revenue ServiceC
the Bill of RightsD
the Constitution2
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Revenue is the amount of money that
A
the government spends on defense.B
the government collects from taxes or borrowing.C
the government owes in debt.D
the government uses to provide social services.3
Money spent on government programs is referred to as
A
bonding.B
an obligation.C
revenue.D
an expenditure.4
What is a difference between payroll and income taxes?
A
Payroll taxes are itemized deductions from an individual’s paycheck, while income taxes are based on an individual’s salary.B
Payroll taxes are taken out of an individual’s salary once a year, while income taxes are paid by workers every time they get paid.C
Payroll taxes are based on an individual’s salary, while income taxes are itemized deductions from an individual’s paycheck.D
Payroll taxes are paid by individuals who have a job, while income taxes are partially funded by employers and employees.5
Which best describes a way in which the government might respond to rising threats to national security through fiscal policy?
A
sending troops overseasB
passing an excise tax on gasolineC
appointing a new Secretary of Homeland SecurityD
increasing military spending6
What happens to the amount of money the government collects in taxes if unemployment is high?
A
It is harder to collect.B
It stays the same.C
It goes down.D
It goes up.7
Examine the pie chart.
A
Social Security, Labor and Transportation, and OtherB
Social Security and Education/Health and Human ServicesC
Defense/Homeland Security, and Social SecurityD
Defense/Homeland Security, Treasury, and Veterans Affairs8
expenditurerevenuebudget
A
expenditureB
revenueC
budgetDid you find these answers helpful?
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