Fiscal Policy Review Pt 2: Question Preview (ID: 27195)

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Which 2 types of tax are sales tax?
a) progressive and proportional
b) regressive and proportional
c) progressive and regressive
d) federal and state

A tax tends to regressive when it
a) imposes a higher rate on higher incomes
b) imposes consistent rates for all tax payers
c) takes a larger portion from lower incomes
d) is based on a person's ability to pay

What tool would the government use to fight a recession?
a) increase government spending and lower taxes
b) decrease government spending and lower taxes
c) increase government spending and increase taxes
d) decrease government spending and increase taxes

During an expansion phase. the government could implement a contractionary policy in order to
a) create jobs
b) promote spending
c) encourage investment
d) address any inflation issues.

Select the answer that is BOTH a revenue sources and an expenditure.
a) Net Interest
b) Income tax
c) Social Security
d) Defense

Which type of tax is collected by TWO levels of government?
a) Tariffs
b) Sales Tax
c) Gift Tax
d) Estate Taxes

Which government agency sets and enforces rules and standards that protect the environment and control pollution.
b) FDA
c) SEC
d) EPA

What is the largest spending category for most local governments?
a) police force
b) hospitals
c) Medicaid and welfare
d) public education

What is an expenditure?
a) money that is collected
b) inflation
c) spending
d) taxes

What is an example of revenue?
a) deflation
b) inflation
c) spending
d) taxes

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