Gove. Spending and revenue quiz

A plan for using your money is called a

• Budget

• Pizza

This is the yearly plan for how the US Government will spend the money it takes from taxes and borrowing

• federal budget

• the task

• discretionary spending

• mandatory spending

When a government it spending more money than it is making, it is operating in a...

• deficit

• surplus

• IOU

• interest

Which of the following NOT considered necessary spending?

• medicare

• national parks

• Assistance for low-income families

• social security

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

• excise
• proportional
• gift
• estate

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

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

On which of the following does the federal government spend the largest portion of its budget?

• Medicare
• Defense
• Social Security
• Education

A tax used to discourage people form doing things the government believes are bad for your health.  

• Sin Taxes
• Regressive taxes
• Excise Taxes
• Estate Tax

An example of a sin tax is 

• Clothes
• Drugs
• Cigarettes 
• Property 

Make more than you owe.

• Deficit 
• Surplus