A(n) policy is employed when the government chooses to run a larger deficit.
answer
expansionary
question
Which of these best describes income tax?
answer
direct tax
question
How is an excise tax different from a sales tax?
answer
An excise tax applies to specific products.
question
Which of these is most likely the US government's aim in taxing imported goods?
answer
to protect domestic businesses
question
High government expenditures can lead to a bigger
answer
deficit.
question
Which programs or projects are most likely funded by taxes paid by the citizens of the United States? Select three options.
answer
constructing a highway
public school funding
maintaining state parks
question
Which best explains how contractionary policies can hamper economic growth?
answer
They reduce disposable income.
question
If expansionary taxation policies encourage growth, are they always appropriate to implement?
answer
No, government services could encourage growth but other practices could be more effective based on the economic situation.
question
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.
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