CE 13 terms

What type of tax is based on individual or family income and is considered "progressive" in the United States?

• Sales tax

• Property tax

• Income tax

• Tariff

Which federal agency enforces laws regulating radio and television broadcasting?

• Federal Trade Commission (FTC)

• Federal Communications Commission (FCC)

• Securities and Exchange Commission (SEC)

• Internal Revenue Service (IRS)

What is the role of the Federal Trade Commission (FTC)?

• Enforces laws regulating businesses

• Collects income taxes

• Manages public schools

• Protects investors

What type of tax is a percentage of the sales price on many items consumers purchase?

• Income tax

• Property tax

• Sales tax

• Tariff

Which agency protects investors and facilitates capital formation?

• Federal Trade Commission (FTC)

• Federal Communications Commission (FCC)

• Securities and Exchange Commission (SEC)

• Internal Revenue Service (IRS)

This tax helps fund the basic retirement program run by the federal government.

• Social Security Tax

• Property Tax

• Medicare Tax

• Sales Tax

Sales tax is the tax you pay

• when you buy something.

• when you sell something.

• when you barter.

• when you give something as a gift.

Business and people pay income taxes. Both are

• regressive taxes

• progressive taxes

• proportional taxes

• personal taxes

An excise tax is often called a "hidden" tax because

• sellers cut out the tax altogether.

• buyers exercise their right to purchase the product.

• buyers hide the products in their cart.

• sellers usually include the amount of the tax in the price of the item.

What type of tax is levied on land and buildings?

• Property tax

• Foreign Tarriffs

• Sales tax

• Excise tax