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Federal Budget & Taxes

Authored by Mark Eakins

Social Studies, History

11th - 12th Grade

Used 107+ times

Federal Budget & Taxes
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27 questions

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1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Income tax is-

Money your employer pays to you
Money you earn and put into the bank
tax paid on the money you earn each year
FREE MONEY!!

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Billy gets charged tax every time he buys a new pair of shoes or a Iced Coffee at Dunkin Donuts. What kind of tax is this?

Income

Property

Payroll

Sales

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

A progressive tax is...

A tax that is the same percentage of income regardless of income levels
A tax that increases in percent of income as income increases
A tax that increases percentage as income decreases
A tax on a goods and services that are bought

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which of these choices are part of the criteria for effective taxes?

Equity for all
Simplicity to understand
Efficiency to Collect
All of the above

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which of the following is an argument for progressive taxes?

Those who make more money work harder and therefore should not be taxed a  higher percentage
Higher percentages of taxation on higher levels of income reduce motivation to work hard and excel in life
Those who make less money are less able to pay and therefore should pay less

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A budget deficit occurs when...

The government brings in more revenue than it spends for a given year
The government spends more money than it brings in for a fiscal year

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What means the government has spent more than it has raised

revenue
surplus
deficit
appropriations

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