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12 Cards in this Set
- Front
- Back
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An ______ policy is employed when the government chooses to run a larger deficit. |
expansionary |
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A ______ is a tax issued by the federal government on imported goods. |
tariff |
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High government expenditures can lead to a bigger _________ |
revenue |
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A sales tax is a type of |
indirect tax |
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Governments collects taxes to ensure that |
citizens contribute to meeting society's needs. |
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If expansionary taxation policies encourage growth, are they always appropriate to implement? |
No, government services could be reduced and cause serious problems for individuals and businesses. |
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How are progressive taxes and regressive taxes similar? |
Both are determined based on income. |
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Which are examples of programs or projects most likely funded by taxes in the United States? Check all that apply. |
-constructing a highway -collecting garbage -maintaining state parks |
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Property taxes are usually determined based on |
the value of the property. |
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Which of these best describes income tax? |
direct tax |
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Under a contractionary taxation policy, the government tries to improve its finances by |
increasing taxes |
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How is an excise tax different from a sales tax? |
An excise tax applies to specific products. |
