Taxes & Monetary Policy

A tax that is the same "percentage" for everyone is called a _________ ?

• flat tax

• progressive tax

• proportional tax

• regressive

A tax that is the same "dollar amount" for everyone is called a _________ ?

• flat tax

• progressive tax

• proportional tax

• regressive

A tax that has been "adjusted for income" so those who make more pay "more" is a _________ ?

• flat tax

• progressive tax

• proportional tax

• regressive

A tax that has been "adjusted for income" so those who make more pay "less" is a _________ ?

• flat tax

• progressive tax

• proportional tax

• regressive

Which type of tax do Americans pay on their income?

• flat tax

• progressive tax

• proportional tax

• regressive

There are five US states that do not pay sales tax. Name three of them.

• Alaska, Montana, Oregon

• Alaska, Texas, Oregon

• Alaska, Florida, Oregon

• Alaska, Nevada, Oregon

The Federal Budget is introduced to Congress by the President who gives an estimated spending amount for the next year. What is the largest amount spent on?

• Military

• Healthcare

• Social Security

• Education

Another name for the "Central Bank" is the__________?

• Corporate Bank

• Savings and Loan

• Federal Reserve

• Financier's Bank

What is the policy called that is used by the Federal Reserve to bring about change in the economy?

• Tax Increase/Decrease

• Government Spending/Saving

• Fiscal Policy

• Monetary Policy

Which of the following are expansionary policies? Choose 2

• Raising Taxes

• Lowering Taxes

• Government Spending

• Government Saving