Taxes & the Fed

Front

If President Biden wanted to exercise contractionary fiscal policy, he might do so by limiting the amount of funding spent on the Center for Disease Control.

Back

True

Front

This is the use of Federal Government spending and revenue collection measures to manage or control the economy.

Back

fiscal policy

Front

Congress cutting taxes is an example of ....

Back

Expansionary Fiscal Policy

Front

Tax that increases as income increases

Back

Progressive Tax

Front

Tax that is flat or fixed for the item being taxed

Back

proportional tax

Front

Tax placed on most retail products at time of purchase...not all states use this tax.

Back

sales tax

Front

This philosophy is focused on heavy involvement by the government as it spends and taxes...suggested by an economist to stimulate the economy; also known as demand-side economics.

Back

Keynesian economics

Front

What is the USA's largest tax, that all working people pay? Options: unemployment, income, FICA, property

Back

income

Front

What tax covers senior citizens, survivors under 18, & disabled? Options: Social Security, Medicare, Medicaid, Supplemental Security Income

Back

Social Security

Front

What is the major tax that helps fund programs for most local governments?

Back

property