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WorksheetsPUBLIC ECONOMICS
Total questions: 25
Worksheet time: 18mins
_____ is a loan taken by the government from its own people as well as from foreign countries.
public debt
public revenue
public expenditure
deficit financing
_____ debt is becoming very common these days
internal debt
productive debt
external debt
unproductive debt
The greatest sources of revenue for the federal government comes from
gift tax
sales tax
income tax
property tax
Which is an example of proportional tax?
sales tax
Illinois state tax
social security tax
A tax placed on harmful items to prevent people from buying them.
sin tax
harmful tax
all taxes
proportional tax
The principle of taxation in which people pay based on what they earn:
pay as you earn principle
ability to pay principle
benefit principle
allowance principle
What form do you fill out when you're first hired to indicate federal income tax withholdings?
W-2
W-4
1099
1040
By what date must you file your income taxes to the federal government?
January 31
January 15
April 15
April 30
Which tax claims a greater percent of total income from people that make less money?
regressive tax
proportional tax
progressive tax
The higher the number of allowances, the _______taxes withheld from our paycheck.
more
less
A tax on large sum of money you inherit from your uncle is called
property tax
excise tax
gift tax
Which agency collects taxes?
BBB
FTC
IRS
TAX
The tax you pay to your local government for owning a portion of land is called.
property tax
income tax
gift tax
sales tax
What are the dates for the beginning and end of the financial year?
1st of Jan to the 31st of Jan
31st of June to the 1st of July
July 1st to October 31st
1st of July to the 30th of June
The degree to which a demand or supply is sensitive to changes in price or income
elasticity
production
utility
scarcity
study of economics in relation to real world situations
Microeconomics
Macroeconomics
Econometrics
Applied economics
government activities towards taxation, borrowings and expenditures
national budget
money supply
foreign domestic investment
public finance
this is responsible for the rapid technological change and high living standards during the 1980's.
entrepreneur
market
innovation
government
the author of the book "General Theory of Employment, Interests and Money" is
Joseph Schumpeter
Donald Trump
Karl Marx
John Maynard Keynes
