Fiscal Policy: Taxes

Question 1

Homeowners pay on the land they own.

Revolt · Accepted Answer

property taxes

Question 2

Workers pay on the money they earn in the workplace.

Revolt · Accepted Answer

income taxes

Question 3

Businesses are required to pay on their earnings.

Revolt · Accepted Answer

corporate taxes

Question 4

Taxes placed on imported goods by the federal government are .

Revolt · Accepted Answer

tariffs

Question 5

Which statements best communicate the main idea of this speech? Check all that apply.

Revolt · Accepted Answer

Lower taxes increase consumer spending.; Increased consumer spending strengthens the economy.; Higher taxes will have a severe impact on citizens.

Question 6

Taxes collected on purchased goods, such as clothing, by state and local governments are .

Revolt · Accepted Answer

sales taxes

Question 7

Taxes placed on specific goods, such as gasoline, by federal and state governments are .

Revolt · Accepted Answer

excise taxes

Fiscal Policy: Taxes Answers