REVIEW- Chapter 16

What 2 ways does the Constitution give Congress the power to tax?

• 22nd Amendment; Article 1/Section 8/Clause 1
• 1st Amendment; Article 1/Section 8/Clause 1
• 19th Amendment; Article 1/Section 8/Clause 1
• 16th Amendment; Article 1/Section 8/Clause 1

The power to tax is limited through the Constitution in 3 ways. Select those 3 ways:

• taxes used for public purposes only
• the government cannot put a tax on imports
• the government cannot put a tax on exports
• federal taxes cannot be the same in every state
• federal taxes must be the same in every state

What is the largest source of federal revenue today?

• excise tax
• sales tax
• income tax
• Social Security

A progressive tax can be defined as...

• the tax you pay when you buy something.
• the higher the income and ability to pay, the higher the tax rate.
• a value of land and property you own.
• the lower the income and ability to pay, the lower the tax rate.

What are the two types of Income Tax? Select two.

• Social Security
• Medicare
• Individual
• Medicaid
• Corporation

There are three main types of Social Insurance taxes levied. Select the three.

• Social Security
• Medicare
• Individual
• Medicaid
• Corporation

What is a tax laid on the manufacture of services?

• custom duties
• excise tax
• progressive tax
• sales tax

What is a tax laid on goods brought into the U.S. from abroad?

• custom duties
• excise tax
• progressive tax
• sales tax

Who processes the power to borrow money on the credit of the United States?

• The President
• House of Representatives
• The Senate
• Congress

What is it called when the government spends more money than it gains in revenue and borrows the rest?

• Deficit Spending
• Public Debt
• Uncontrollable Spending
• Negative Equity