Government Funding

Income taxes are classified as a _____________ tax.

• Progressive

• Regressive

• Marginal

• Protective

Which government agency collects taxes?

• The Federal Reserve

• Federal Trade Commission

• Department of State 

• Internal Revenue Service (IRS)

How many districts of Federal Reserve Banks are there in the United States?

• 5

• 10

• 12

• 15

A _____________ is a contractual promise on the part of the government to repay certain amount plus interest.

• Bill

• Bond

• Tax

• Entitlement

_____________ taxes are imposed by some states for the removal of nonrenewable natural resources.

• Excise

• Income

• Property

• Severance

What are the two types of property that the government collects taxes on?

• Real

• Severance

• Personal

• Entitlement

The percentage of money member banks must keep in their vaults or on deposit with the Federal Reserve Banks as a reserve against their deposits

• Expenditure

• Reserve Requirement

• Discount Rate

• Monetary Policy

The market value of all final goods and services produced in a country in a year

• Expenditure

• Block Grant

• Gross Domestic Product (GDP)

• Tariff

What are economic indicators?

• Markets, reports, scales, or figures that give information about how different areas of the economy are performing

• A required government expenditure that continues from one year to the next

• The market value of all final goods and services produced in a country in a year

• A plan for how much revenue an individual or government expects to take in and how this money will be spent or alloted

Kentucky has two Federal Reserve districts, select one location.

• Cleveland, Ohio

• St. Louis, Mo

• Knoxville, Tn

• Indianapolis, In