Unit 5: The Government and the Economy

Front

Why is taxation necessary?

Back

control the money supply and manage economic growth

Front

Which describes a sales tax?

Back

percentage charged on the purchase of goods

Front

What does a progressive taxation system do?

Back

increases the tax rate as income rises

Front

The World Trade Organization was formed in order to accomplish what?

Back

promote free trade

Front

Tariffs differ from taxes because tariffs are what?

Back

collected on imported goods

Front

Which government official is required by law to deliver a budget to the U.S. Congress?

Back

the president

Front

Politicians can gain added support for themselves by approving what? Options: public goods, regressive taxation, environmental-protection laws, pork barrel projects

Back

pork barrel projects

Front

How can recent government spending be best described?

Back

increasing

Front

Which is a public good? Options: college education, school building, road, health care

Back

road

Front

Government corporations can be described as which of the following?

Back

public sector corporations