Politics And GovernmentPolitical ScienceFiscal Policy: Taxes example #24824
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Fiscal Policy: Taxes

Rylee Sanchez avatar Rylee Sanchez
25 July 2022
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progressive tax
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a tax in which wage earners with higher incomes are taxed at a higher percentage rate than earners with lower incomes
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proportional tax
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a tax in which wage earners with lower incomes are taxed at a higher percentage rate than earners with higher incomes
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society
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a group of individuals, usually within a community, who share traditions, interests, and establishments
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tax
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an amount taken from income or added to purchases by various levels of government
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If expansionary taxation policies encourage growth, are they always appropriate to implement?
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Yes, the government will still ensure that individuals and businesses continue to receive all necessary services.
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According to the chart, the citizens are being taxed....
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....proportionally.
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Governments collects taxes to ensure that....
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....citizens contribute to meeting society's needs.
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A sales tax is a type of....
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....indirect tax.
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Which best explains how contractionary policies can hamper economic growth?
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They slow demand.
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Which are examples of programs or projects most likely funded by taxes in the United States?
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-constructing a highway -maintaining state parks -collecting garbage
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Under an expansionary taxation policy, the government tries to stimulate economic growth by....
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....increasing spending.
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How are progressive taxes and regressive taxes similar?
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Both are considered flat taxes.
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Which of these is most likely the US government's aim in taxing imported goods?
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to protect domestic businesses
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Which best describes how expansionary policies can facilitate economic growth?
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They increase disposable income.
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Which of these best describes income tax?
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direct tax
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Which best describes what this graph indicates about government spending?
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The government almost always spends more than it collects.
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Under a contractionary taxation policy, the government tries to improve its finances by....
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....increasing taxes.
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A(n) ________ policy is employed when the government chooses to run a larger deficit.
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expansionary
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Property taxes are usually determined based on....
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....the value of the property.
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How is an excise tax different from a sales tax?
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An excise tax applies to specific products.