Monetary Policy: The Federal Reserve Answers
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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.2
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What gives the US government the power to collect taxes?
A
the ConstitutionB
laws passed by CongressC
an executive orderD
common law3
This graph shows US government revenue and expenditures between 1980 and 2010.
A
The government spends less than it receives year over year.B
The government should produce more money to cover spending.C
The government on average spends more than it collects.D
The government needs to lower taxes to cover spending.4
Which of these best describes income tax?
A
regressive taxB
indirect taxC
direct taxD
proportional tax5
expansionarycontractionaryproportional
A
expansionaryB
contractionaryC
proportionalDid you find these answers helpful?
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