AnswersHSA 26-27 EconomicsFiscal Policy: Taxes

Fiscal Policy: Taxes Answers

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According to the graph, how much did individuals making $20,000 to $50,000 a year pay in income taxes?

Answers:
Taxes that are paid by individuals on all money earned, including investments, are .:income taxes
Taxes that are paid by homeowners to state and local governments are .:property taxes
Taxes that businesses are required to pay on their earnings throughout the course of a year are.:corporate taxes
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✔ TonyJuanIsabel

A
✔ Tony
B
Juan
C
Isabel
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✔ TonyJuanIsabel

A
✔ Tony
B
Juan
C
Isabel
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progressive✔ regressiveproportional

Answers:
This scenario describes a tax system.:regressive
Isabel pays Tony and Juan on the computer.:the same tax as
pays the highest tax rate on the computer.:Tony
would be the most affected by an increase in the sales tax rate.:Tony
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more tax thanless tax than✔ the same tax as

A
more tax than
B
less tax than
C
✔ the same tax as
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✔ progressive regressive proportional

Answers:
This chart describes a tax system.:progressive
The individual who benefits most from this policy is probably.:Rohan
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✔ RohanNikkitaAhmed

A
✔ Rohan
B
Nikkita
C
Ahmed
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X progressive regressive✔ proportional

Answers:
The chart describes a tax system.:proportional
In this tax system, higher-income earners pay a(n) proportion compared to lower-income earners.:equal
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X higher✔ equal lower

A
X higher
B
✔ equal
C
lower
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✔ about $80 billionabout $280 billionabout $480 billion

A
✔ about $80 billion
B
about $280 billion
C
about $480 billion
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about $80 billionabout $280 billion✔ about $480 billion

A
about $80 billion
B
about $280 billion
C
✔ about $480 billion
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progressive taxes✔ income taxescorporate taxes

A
progressive taxes
B
✔ income taxes
C
corporate taxes
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✔ property taxesregressive taxescorporate taxes

A
✔ property taxes
B
regressive taxes
C
corporate taxes
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direct taxesproportional taxes✔ corporate taxes

A
direct taxes
B
proportional taxes
C
✔ corporate taxes
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Based on the information provided, what type of tax has Country Q implemented?

A
an income tax
B
a tariff
C
a corporate tax
D
an excise tax
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Based on what you have read, what type of tax is Robert paying?

A
a tariff
B
a sales tax
C
an excise tax
D
a corporate tax
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What action can the government of Country DF take to encourage citizens to purchase homes?

A
maintain corporate tax rates
B
raise income taxes
C
raise property tax rates
D
lower income taxes for homeowners
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What are the most likely effects of this policy? Check all that apply.

A
Businesses will likely pay workers less.
B
Businesses will likely hire more workers.
C
Businesses will likely earn higher profits.
D
Businesses will likely invest less in the economy.
E
Businesses will likely invest more in the economy.
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How can expansionary and contractionary tax policies be used to manage the economy?Be sure to give your answer in two to three sentences.

Answer:

Expansionary tax policy involves lowering taxes to increase disposable income and stimulate economic growth during a recession. Conversely, contractionary tax policy involves raising taxes to reduce overall spending and slow down inflation when the economy is overheating.

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What details did you discuss in your response? Check all that apply.

A
the difference between expansionary policy and contractionary policy
B
expansionary policies are used to stimulate the economy and reduce unemployment
C
contractionary polices are used to reduce economic growth and combat inflation

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