Government Economics

Which type of tax is a Regressive Tax?

• Sales tax

• Income Tax

• Cooperate Tax

• Import Tax

This is the name for an item that nobody will create because you cant make any money doing it so the government takes over production because its so important

• Inferior Good

• Public Good

• Consumer Good

• Capital Good

This is the name for the unintended consequences of an economic activity, good or bad

• Externality

• Side Effect

• Internality

• Causation

What is Eminent Domain?

• The power of the Government to tax and spend

• The power to take private property for the good of all

• The power of the Gov. to control the supply of Money

• The power to create laws and regulations to enforce safety standards

Actions taken by the government to compensate persons monetarily who have been harmed by government action on inaction

• Reparations

• UBI

• Affirmative Action

• Restorative Justice

Which of the following are the Economic goals of the Federal Government

• Low Inflation

• Low Unemployment

• Increased Economic Growth

• High Tax Income

Define Inflation

• The Gradual Rise In Prices over Time

• A decline in the value of your dollars

• More dollars in circulation

• High Demand chasing low Supply

A tax system in which all individuals pay the same percentage of their income in taxes is called...

• Progressive

• Regressive

• Proportional

• Stagnant

A tax system in which individuals gradually pay a high percentage of income in taxes as they make more money

• Progressive

• Regressive

• Proportional

• Stagnant

A tax system in which lower income individuals pay a greater percentage of their income in taxes then the wealthy

• Progressive

• Regressive

• Proportional

• Stagnant