Federal Budget Quiz Review #1 Question Preview (ID: 13002)


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Social Security is an example of mandatory spending by the government.
a) True
b) Not this one
c) Not this one
d) False

Medicare is an example of mandatory spending by the government.
a) True
b) Not this one
c) Not this one
d) False

Defense (Military) Department spending is an example of mandatory spending by the government.
a) True
b) Not this one
c) Not this one
d) False

Medicaid provides medical insurance to...
a) Doctors
b) Single man
c) Low income individuals
d) Elderly

You are eligible for Medicare if...
a) live below the poverty line
b) have 4 children
c) turned 55 years old
d) you are on dialysis (because of kidney failure)

A private insurance company reimburses the hospital and doctors for treatment on an individual if they are enrolled in Medicaid.
a) True
b) Not this one
c) Not this one
d) False

Social Security and O.A.S.D.I (Old-Age, Survivors, and Disability Insurance) are very different things.
a) True
b) Not this one
c) Not this one
d) False

Social Security CURRENTLY is making enough money to sustain itself.
a) True
b) Not this one
c) Not this one
d) False

The national debt is
a) The amount by which government spending exceeds government revenues in a single year.
b) All of these (except None of these)
c) None of these
d) The total amount of money the federal government owes for accumulated deficits over all the years.

A tax system in which those with high incomes pay a higher percentage of their income in taxes than those with low incomes.
a) Progressive
b) None of these
c) Proportional
d) Regressive

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