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Econ Final Practice Quiz

Authored by Vincent Flores

Social Studies

12th Grade

Used 6+ times

Econ Final Practice Quiz
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65 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do taxes collected under the Federal Insurance Contribution Act (FICA) fund?

Social Security and Medicaid

Social Security and Medicare

Medicare and Medicaid

Medicaid and Supplemental Security Income

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Social Security taxes also pay for ______.

benefits to federal workers and military personnel

benefits to those who are unemployed

transportation and training expenses for low-income people

benefits to older citizens, surviving family members of wage earners, and people with certain disabilities

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an entitlement?

a social welfare program providing benefits to people who meet certain eligibility

requirements

a social welfare program paying bills for government spending such as supplies and

utilities

a social welfare program spending funds over which legislators have direct control

a social welfare program providing payments that the government receives for certain

services

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All of the following are constitutional limits on the power to tax except that

tax money must not go to individual interests.

federal taxes must be the same in every state.

imports must not be taxed.

exports must not be taxed.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Your department store receipt says that you paid a 5% sales tax on sports equipment. This sales tax is an

example of

proportional tax

progressive tax

regressive tax

income tax

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All but which of the following may be claimed as a tax deduction?

interest on a home mortgage

donations to charity

some medical expenses

money spent on household expenses

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is an example of discretionary spending?

Social Security

Medicare

Medicaid

education

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