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Federal Budget Quiz Review #1
Test Description: Review for quiz
Instructions: Answer all questions to get your test result.
1) Social Security is an example of mandatory spending by the government.
A
Not this one
B
Not this one
C
True
D
False
2) Medicare is an example of mandatory spending by the government.
A
Not this one
B
True
C
Not this one
D
False
3) Defense (Military) Department spending is an example of mandatory spending by the government.
A
True
B
Not this one
C
False
D
Not this one
4) Medicaid provides medical insurance to...
A
Elderly
B
Low income individuals
C
Single man
D
Doctors
5) You are eligible for Medicare if...
A
have 4 children
B
you are on dialysis (because of kidney failure)
C
turned 55 years old
D
live below the poverty line
6) A private insurance company reimburses the hospital and doctors for treatment on an individual if they are enrolled in Medicaid.
A
Not this one
B
True
C
Not this one
D
False
7) Social Security and O.A.S.D.I (Old-Age, Survivors, and Disability Insurance) are very different things.
A
False
B
True
C
Not this one
D
Not this one
8) Social Security CURRENTLY is making enough money to sustain itself.
A
Not this one
B
False
C
True
D
Not this one
9) The national debt is
A
The total amount of money the federal government owes for accumulated deficits over all the years.
B
All of these (except None of these)
C
The amount by which government spending exceeds government revenues in a single year.
D
None of these
10) A tax system in which those with high incomes pay a higher percentage of their income in taxes than those with low incomes.
A
None of these
B
Proportional
C
Progressive
D
Regressive
*select an answer for all questions
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