13c/d - Tax/Federal Reserve

How many levels of gov't are there?

• 1

• 2

• 3

• none of the above

Each level of gov't require revenue or taxes from individuals and businesses. Which type of tax is the main source of $ for gov't?

• income

• sales

• property

• social security and medicare

Which Amendment allowed the gov't to tax our income (the money we make by working)?

• 15th

• 16th

• 17th

• 19th

What type of tax is placed on items we purchase? It is a % of the cost of the item.

• excise

• sales

• property

• income

This tax is placed on income to support folks who are retired.

• property tax

• excise tax

• sales tax

• social security tax

This tax is placed on items we own like boats and cars and homes.

• Property tax

• Excise tax

• Estate tax

• Corporate tax

Which level(s) of gov't spends its revenue on education, road construction and repair and police and fire departments?

• local and federal

• federal

• local and state

• state and federal

What is the name of the central bank of the United States?

• the National Bank

• the United States Bank of the United States

• the Federal Reserve

• the Monetary Fund

The FED is responsible for regulating the money supply and interest rates because too much money in circulation could lead to ____.

• charges of counterfeiting

• a depression

• inflation

• a recession

The FED consists of 12 federal reserve banks and is headed by a chairperson appointed by the _____ and confirmed by the ____.

• Supreme Court; President

• President; Senate

• Senate; Supreme Court

• Czar of Russia; Minister of Finance