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Biblioteka

Macro 5.4-Fiscal Policy Stabilizers, Deficit vs. Surplus, National Debt (1 question per student)

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Posljednje ažuriranje over 1 year ago
29

Answer each question!

THEN....

Click the hint to check your answer.

Click the link LATER in the day or in the unit for a further read.

In the end, everyone's knowledge of this varies. Review w

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Pitanje 1
1.

Government generates most of its revenue from customs

https://www.taxpolicycenter.org/briefing-book/what-are-sources-revenue-federal-government

Pitanje 2
2.

Most government receipts (revenues) come from various taxes.

https://www.taxpolicycenter.org/briefing-book/what-are-sources-revenue-federal-government

Pitanje 3
3.

Business and Corporate taxes are the greatest revenue source for the federal government. https://www.taxpolicycenter.org/briefing-book/what-are-sources-revenue-federal-government

Pitanje 4
4.

The federal income tax is a proportional tax.

https://www.investopedia.com/ask/answers/042415/what-are-differences-between-regressive-proportional-and-progressive-taxes.asp

Pitanje 5
5.

Payroll taxes include the federal income tax, as well as payments of the Social Security tax and Medicare.

https://taxfoundation.org/what-are-payroll-taxes-and-who-pays-them/

Pitanje 6
6.

Defense spending is the greatest expenditure in the federal budget (As of 2021)

https://www.nationalpriorities.org/budget-basics/federal-budget-101/spending/

Pitanje 7
7.

Sales tax is the greatest revenue source for state and local governments.

https://taxfoundation.org/sources-state-and-local-tax-revenues/

Pitanje 8
8.

State and local police as well as correction facilities are the greatest expenditure for state and local governments.

https://www.urban.org/policy-centers/cross-center-initiatives/state-local-finance-initiative/projects/state-and-local-backgrounders/state-and-local-expenditures

Pitanje 9
9.

A payment made by the federal or state government without receiving a good or service in return is a transfer payment.

https://www.investopedia.com/terms/t/transferpayment.asp

Pitanje 10
10.

Government Deficit and Government Debt are two terms that can be used as synonyms.

https://www.investopedia.com/articles/personal-finance/081315/debt-vs-deficit-understanding-differences.asp

Pitanje 11
11.

The two types of federal spending are discretionary and mandatory (automatic).

https://www.nationalpriorities.org/budget-basics/federal-budget-101/spending/

Pitanje 12
12.

A marginal tax rate is the extra tax dollar paid on the additional income earned in a given time frame.

https://www.investopedia.com/terms/m/marginaltaxrate.asp

Pitanje 13
13.

The US tax system is base on three principles of taxation: ability to pay principle, benefit principle...which are principles focused on equity. http://econperspectives.blogspot.com/2008/12/equity-of-tax-system.html

Pitanje 14
14.

There are three types of taxes: progressive, regressive, and proportional tax.

http://www.socialstudieshelp.com/eco_taxation.htm

Pitanje 15
15.

The federal income tax is a progressive tax.

https://www.taxpolicycenter.org/briefing-book/are-federal-taxes-progressive

Automatic Stabilizers are fiscal spending or taxation that does NOT require Congressional or Presidential Approval! These are mandatory forms of fiscal spending or taxation.

Discretionary Stabilizers are fiscal spending or taxation that DO require Congressional or Presidential Approval! These are discretionary forms of fiscal spending or taxation.

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Check these out!

https://www.usdebtclock.org/

https://www.usdebtclock.org/world-debt-clock.html

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