10 Week Sem 2 Economics U4 E29-32 QUIZ

Governments need money to provide . . . .

• Offensive capabilities

• Public services

• Tax Cuts

• Essential Nutrients

Levied on wages, salaries, and investments.

• Corporate Tax

• Sales Tax

• Income Tax

• Property Tax

Applied to goods and services at purchase.

• Corporate Tax

• Sales Tax

• Income Tax

• Property Tax

Charged on real estate value.

• Corporate Tax

• Sales Tax

• Income Tax

• Property Tax

Paid by businesses based on profit.

• Corporate Tax

• Sales Tax

• Income Tax

• Property Tax

Bonds are . . . . the government takes from citizens or institutions.

• Taxes

• Long-term

• Loans

• Short-term

Treasury Bills

• Taxes

• Long-term

• Loans

• Short-term

Treasury bonds

• Taxes

• Long-term

• Loans

• Short-term

Required by law (Social Security, Medicare, Medicaid).

• Mandatory Spending

• Interest on Debt

• Bonds

• Discretionary Spending

Voted on by Congress (education, defense, transportation).

• Mandatory Spending

• Interest on Debt

• Bonds

• Discretionary Spending