Unit 4 - Role of Government Review

Appropriations bills allow

• the government to spend money

• the president to submit a budget

• the government to collect taxes

• employers to withhold payroll taxes from employees

The main source of revenue for the U.S. Government is

• Payroll Taxes

• Personal Income Taxes

• Corporate Income Taxes

• Excise Taxes

Full employment, economic growth, and price stability are the shared responsibility of

• Mandatory Spending & Discretionary Spending

• Congress and the President

• Monetary Policy & Fiscal Policy

• The United States Government and foreign governments

If a tax as a percentage of income decreases as income increases, the tax is

• Direct

• Proportional

• Progressive

• Regressive

If a tax as a percentage of income remains the same regardless of changes in income, the tax is

• Indirect

• Regressive

• Proportional

• Progressive

If a tax increases as a percentage of income as income increases, the tax is

• Regressive

• Progressive

• Proportional

• Indirect

In order for a household to support itself, its income must be what percentage of the federal poverty line?

• 138%

• 150%

• 200%

• 400%

A ________ occurs when the government spends more money than it makes in a specific period of time

• Debt

• Deficit

• Determinant

• Delemerit

________ is the sum of all the money the government owes to other people/countries.

• Debt

• Deficit

• Determinant

• Demerit

Monetary policy is a function of

• The federal government

• The federal reserve

• The federal bureaucracy

• The federal militia