12. 1 Introduction to Taxes, Spending and Budget

Open Ended

What are some ways the government uses the money it collects from taxes?

Multiple Choice

Why is it important for a government to collect taxes?

• To fund public services and infrastructure

• To increase the wealth of government officials

• To reduce the population

• To encourage people to save more

Open Ended

What do you suppose Benjamin Franklin meant by his quote: "In this world, nothing is certain except death and taxes"?

Multiple Choice

According to the presentation, why are taxes necessary for the United States government?

• To fund government functions for society

• To increase the wealth of politicians

• To pay only for military expenses

• To control the population

Multiple Select

Which of the following services do taxes fund? Select all that apply.

• the military

• maintenance of roads

• public schools

• grocery stores

Multiple Choice

What is the largest source of funding for the government at every level, according to the presentation?

• Sales taxes

• Income taxes on individuals

• Property taxes

• Corporate taxes

Multiple Choice

In 2010, the United States federal government had an income of about $2.2 trillion and spent about $3.5 trillion. Which term describes its financial situation that year?

• a surplus of about $1.3 trillion

• a surplus of about $5.7 trillion

• a deficit of about $1.3 trillion

• a deficit of about $5.7 trillion

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Multiple Choice

Which of the following statements best explains why the U.S. national debt has continued to grow since the 1970s?

• The government has consistently run a surplus.

• The government has run a deficit for most years.

• The government has not borrowed any money.

• The government has reduced spending each year.

Open Ended

Explain how debates about government spending reflect the differing priorities of political parties and the concerns of taxpayers.

Multiple Choice

Which of the following is NOT an example of how the government uses tax money?

• Building schools

• Garbage collection

• Buying personal luxury cars for politicians

• Park maintenance