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Government Expenditure Quiz Review #2
Test Description: Review for quiz
Instructions: Answer all questions to get your test result.
1) Government spends on projects such as road construction in rural areas and not a book distribution in urban areas, impacting people's daily lives how
A
Affecting Resource Allocation
B
Competing with the Private Sector
C
Redistributing Income
D
None of these
2) In higher education, public and private colleges are an example of how government spending can impact individuals daily lives in which of the following...
A
None of these
B
Competing with the Private Sector
C
Redistribution of Income
D
Resource Allocation
3) The ideal federal budget for a country would be a...
A
budget deficit
B
balanced budget
C
budget surplus
D
federal budget
4) In general, government makes two broad kinds of expenditures...
A
one being Medicare and the other being Medicaid.
B
one being defense spending and the other being welfare.
C
one being necessary and the other being unnecessary.
D
one being the purchase of goods and services and the second being a transfer payment.
5) The national debt is currently over
A
1 Trillion
B
5 Billion dollars
C
16 Trillion dollars
D
10 Million dollars
6) All are examples of discretionary spending except which of the following
A
Military
B
Space Exploration (NASA)
C
Interest on debt owed
D
Education
7) All are examples of mandatory spending except which of the following
A
Medicare
B
Education
C
Medicaid
D
Social Security
8) Who reimburses the doctors and hospitals when individuals on Medicaid can't afford the services they receive from the clinics and hospitals
A
No one
B
Their employer
C
The government
D
Private Insurance Companies
9) The government generate revenue to pay for all their expenses by...
A
taxing its citizens
B
Selling gold
C
Investing in the stock market
D
Sell its goods and services
10) Other than a short time in the late 1990's and early 2000's (under President Clinton), the country has been operating at a...
A
budget equilibrium
B
balanced budget
C
budget deficit
D
budget surplus
*select an answer for all questions
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