US GOVT SOL 15

The giving up of one benefit or advantage in order to gain another regarded as more favorable

• Collective bargaining

• trade-offs

• compromise

• negotiations

The ________________ serves as the United States’ central bank.

• Federal Reserve System

• Federal Treasury

• Federal Bureau of Investigation

• Department of Taxation

refers to how government taxing and spending policy can be used to influence the economy.

• Recession

• Monetary gains

• Diplomacy

• Fiscal policy

Which of the following is NOT a type of tax?

–Individual income tax

–Corporate income tax

–Payroll taxes

–Custom duties

–Sales taxes

–Real estate and personal property taxes

• Individual income

• Real Estate

• Sales

• Payroll

• Animal housing

Tax takes a larger % of taxes from people in higher-income groups than from people in lower-income ones

• Progressive

• Proportional

• Regressive

_____________ taxes paid by individuals and corporations are the largest single source of revenue today.

• Income

• Real estate

• Inheritance

• Custom

An important role for the government in the economy is to define, establish and enforce _________ rights.

• civil

• post office

• bird

• property

Which is not an example of a good or service provided by the government?

• Infrastructure

• Public schools

• Public toilets

• Public health & safety