Taxes Review

Front

What caused Abigail, Scarlett, and Anika to pay taxes in the board game about the creation of America?

Back

They were in debt because of the war in the game.

Front

What organization collects taxes from people in the US economy?

Back

The Internal Revenue Service

Front

Which two types of unemployment represent the Natural Rate of Unemployment? (Frictional + Structural, Frictional + Cyclical, Cyclical + Structural, Seasonal + Structural)

Back

Frictional + Structural

Front

What are the main economic goals of a country discussed by Abigail, Hannah, and Zoe?

Back

Promote growth, limit unemployment, & keep prices stable

Front

Ethan, Grace, and Kai are discussing how they contribute to the government's provision of public goods and services. What do they pay to the government for this?

Back

Taxes

Front

Who collects taxes in the US?

Back

The IRS

Front

All the following are examples of public goods they discussed except: Parks, Police, Private High School, Bethel Ave

Back

Private High School

Front

What are the three main types of taxes discussed in the class on taxation?

Back

proportional, regressive, and progressive

Front

What are the consequences of not paying taxes every year according to James?

Back

A large amount of fines and or prison time

Front

What is a proportional tax?

Back

takes the same percent of income from all income groups.