Econ - Unit 6 Fiscal Policy

Deregulation is when there are income subsidies paid by the government for people that meet government standards for poverty

• True
• False

A flat tax is charging everyone the same percentage of their income for taxes

• True
• False

Government payment for people’s medical care when they reach 65.

• Medicaid
• Medicare

Government plans a budget that takes into account certain restrictions on spending 

• Balanced Budget
• Budget Constraint
• Budget Surplus
• Budget Deficit

Government plans to spend exactly the same amount as its income

• Budget Constraint
• Budget Deficit
• Balanced Budget
• Budget Surplus

Government takes money from one group and gives it to another group, usually it means taking from the rich to help the poor. Social Security is an example that moves money from those who are working to those who have retired.

• Subsidy
• Transfer Payment
• Entitlement Program
• Regressive

Government payments to people or businesses to encourage them to do something

• Subsidy
• Transfer Payment
• Entitlement Program
• Regressive

Which term means the money the national government gets from all types of taxes?

• Fiscal Policy
• Regressive Tax
• Expenditure
• Federal Tax Revenue 

Which of the following programs is NOT an entitlement program

• Medicare
• Space Program
• Medicaid
• Social Security

The president wants to make homes more energy efficient. So, he sets up a program where home owners can apply for low interest loans to make their homes more efficient. This is an example of which of the following terms?

• Subsidy
• Income Redistribution
• Public Welfare 
• Transfer Payment