28806
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Fiscal Policy: Taxes

Question 28806 • VT-GA-EOC-Personal Finance & Economics B ULHS

Which phrase defines the reasons why the federal government collects taxes?

Answer
Taxes placed on imported goods by the federal government are .:

tariffs

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

sales taxes

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

excise taxes

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