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Fiscal Policy

Total soal: 15

Worksheet time: 8mins

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Kelas
Tanggal
1.
This principle says that only those that use the good or service should pay the tax
a)
Ability to Pay
b)
Fiscal
c)
Benefits
d)
Monetary
2.
A transfer payment is when the government
a)
pays for trade with other countries
b)
buys something that get nothing in exchange for
c)
pays only for Medicare
d)
pays only for roads
3.
This is a tax that where you pay more the more money you make
a)
regressive
b)
proportional
c)
progressive
d)
flat
4.
Government budget comprises of
a)
government spending and income tax only
b)
government revenue and government expenditure
c)
transfer payment and government revenue 
d)
government spending and indirect tax
5.
a plan to increase aggregate demand and stimulate the economy
a)
Contractionary Fiscal Policy
b)
Expansionary Fiscal Policy
c)
Contractionary Monetary Policy
d)
Expansionary Monetary Policy
6.
What do Social Security taxes pay for?
a)
benefits to federal workers and military personnel
b)
benefits to those who are unemployed
c)
transportation and training expenses for low-income people
d)
benefits to older citizens, surviving family members of wage earners, and people with certain disabilities
7.
An example of expansionary fiscal policy would be
a)
cutting taxes.
b)
cutting government spending.
c)
cutting production of consumer goods.
d)
cutting prices of consumer goods.
8.
If the unemployment rate is rising and GDP is falling, the fiscal policy action that the federal government should MOST likely follow is 
a)
decreasing taxes.
b)
decreasing spending.
c)
decreasing the money supply.
d)
decreasing the reserve requirement.
9.
Fixed expense
a)
expenses you have already committed to spending
b)
payment received for providing labor
c)
true
d)
false
10.
A budget deficit occurs when...
a)
The government brings in more revenue than it spends for a given year
b)
The government spends more money than it brings in for a fiscal year
11.
This is a tax where you pay less the more money you make
a)
regressive
b)
progressive
c)
proportional
d)
flat
12.
A flat tax would be a great example of this
a)
progressive
b)
regressive
c)
proportional
d)
Sales
13.
The largest portion of revenue for the Federal Government comes from
a)
user fees
b)
Federal income Tax
c)
national Sales Tax
d)
Transfer Payments
14.
A property tax would be a tax that would go to _______________ government
a)
state
b)
federal
c)
local
d)
school
15.
When the government spends more money than they take in each year is called a _________?
a)
Debt
b)
Deficit
c)
Surplus
d)
Expansionary