WorksheetsEconomics Check for Understanding
Total questions: 20
Worksheet time: 13mins
What do businesses buy from households?
Money
Goods & Services
Resources
What do households buy from businesses?
Money
Resources
Goods & Services
Households sell their labor in exchange for what?
Goods & Services
Paycheck
Resources
What does the government collect from households and businesses?
Goods & Services
Taxes
Resources
What does the government use tax revenue to provide to households and businesses?
Goods & Services
Resources
Income
Public Goods & Services
How do banks encourage people to save money?
Dividends
Bonds
Interest
Money and resources continuously flow in a circular way between all of the following EXCEPT...
Households
Government
Businesses
Public Goods & Services
Please list two examples of a public good or service.
What is the fancy word for a bank?
Savings & Loans
Financial Institutions
Credit Unions
Which of the following is not a type of tax you learned yesterday?
Income
Sales
Laundry
Property
What is an example of a public good or service the NATIONAL government provides us through taxes?
Road Maitenance
Public Schools
Military
What is income tax?
Tax applied to items you buy
Tax applied to your paycheck
Tax applied to items you own
What is property tax?
Tax applied to items you buy
Tax applied to your paycheck
Tax applied to property you own
Which of the following is NOT a type of money in the US?
Coins
Currency
Debit Cards
Credit Cards
Which amendment allows Congress to tax incomes?
4th
12th
16th
21st
Which of the following is an example of what the STATE uses tax dollars for?
Public Schools
Medicare
Military
Foreign Aid
Which of the following is an example of what LOCAL governments use tax dollars for?
Military
Public Parks
Foreign Aid
Federal Law Enforcement
The U.S. has entered into a conflict with another country and has ordered deployment of military troops. Would taxes go up or down?
Up
Down
Stay the same
VA General Assembly approved a new utility commission that will be upgrading many of the water lines in the state. Will taxes go up or down?
Up
Down
Stay the same
There has been a number of new businesses that just opened up in town bringing in more local money. Will taxes go up or down?
Up
Down
Stay the same
