This graph shows US revenue and expenditures between 1980 and 2010.
Which statements describe what this graph indicates about government spending? Check all that apply.
answer
The government needs to raise taxes or cut spending.
The government spends too much money.
The government almost always spends more than it collects.
question
What gives the US government the power to collect taxes?
answer
the Constitution
question
Which are examples of programs or projects most likely funded by taxes paid by citizens of the United States? Check all that apply.
answer
constructing a highway
collecting garbage
maintaining state parks
question
Property taxes are usually determined based on
answer
the value of the property.
question
High government expenditures can lead to a bigger
answer
deficit
question
The chart shows how two people with different incomes are taxed.
According to the chart, the citizens are being taxed
answer
proportionally
question
Which of these is most likely the US government's aim in taxing imported goods?
answer
to protect domestic businesses
question
Which best explains how contractionary policies can hamper economic growth?
answer
They reduce disposable income.
question
A(n) is a tax issued by the federal government on imported goods.
answer
tariff
question
How are progressive taxes and regressive taxes similar?
answer
Both are determined based on income.
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