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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
Redistributing Income
C
None of these
D
Competing with the Private Sector
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
Resource Allocation
B
Competing with the Private Sector
C
Redistribution of Income
D
None of these
3) The ideal federal budget for a country would be a...
A
balanced budget
B
federal budget
C
budget surplus
D
budget deficit
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 the purchase of goods and services and the second being a transfer payment.
D
one being necessary and the other being unnecessary.
5) The national debt is currently over
A
1 Trillion
B
5 Billion dollars
C
10 Million dollars
D
16 Trillion dollars
6) All are examples of discretionary spending except which of the following
A
Interest on debt owed
B
Space Exploration (NASA)
C
Education
D
Military
7) All are examples of mandatory spending except which of the following
A
Medicaid
B
Social Security
C
Medicare
D
Education
8) Who reimburses the doctors and hospitals when individuals on Medicaid can't afford the services they receive from the clinics and hospitals
A
Their employer
B
No one
C
Private Insurance Companies
D
The government
9) The government generate revenue to pay for all their expenses by...
A
Selling gold
B
Sell its goods and services
C
taxing its citizens
D
Investing in the stock market
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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