Chp 3.3 Quiz

This is the top source of revenue for the federal government.

• individual income taxes
• corporate income taxes
• customs duties
• FICA

FICA pays for these two entitlement programs

• Social Security and school lunches
• Medicare and Medicaid
• Social Security and Medicare
• Unemployment and Medicaid insurance

What is spending that is greater than revenue?

• balanced
• suplus
• deficit

This is a tax on property inherited after a person's death.

• excise
• proportional
• gift
• estate

What is the primary purpose of taxes?

• paying for roads, buses, and cars

• paying for social security and medicare

• paying for governmental operations, facilities and services

Federal, state, and local governments generate revenue by taxing ______ and __________.

• individuals; businesses

• poor people; rich people

• individuals; the government

What is it called when the federal government spends more money than it collects?

• deficit spending

• discretionary spending

• mandatory spending

• taxable spending

The largest government entitlement program currently is ______.

• Social Security

• Education

• Medicare

• Deficit spending

What federal program pays for certain health-care expenses for older citizens and others with disabilities?

• Social Security

• taxes

• Medicare

• VITA Programs

A federal expense item that can be adjusted according to needs and revenue is a(n) ___.

• Direct tax

• Mandatory expenditure

• Indirect tax

• Discretionary expenditure