Answers PMHS Civics Q2Fiscal Policy

Fiscal Policy Answers

18 verified answers3 views

Free Preview

Money spent on government programs is referred to as

bonding.

an obligation.

revenue.

an expenditure.

Free Preview

Look at a portion of a sample paycheck:

payroll

property

income

excise

Examine the pie chart.

Social Security, Labor and Transportation, and Other

Social Security and Education/Health and Human Services

Defense/Homeland Security, and Social Security

Defense/Homeland Security, Treasury, and Veterans Affairs

millionbilliontrillion

million

billion

trillion

What are some examples of excise taxes imposed by the government? Check all that apply.

gambling

fast-food restaurants

cigarettes

movies

baseball games

alcohol

gasoline

hotels

The government raises money on the federal level through which taxes? Check all that apply.income taxes tariff taxesoccupation taxesexcise taxessales taxescorporate taxesproperty taxes

income taxes

tariff taxes

occupation taxes

excise taxes

sales taxes

corporate taxes

property taxes

Revenue is the amount of money that

the government spends on defense.

the government collects from taxes or borrowing.

the government owes in debt.

the government uses to provide social services.

What gives Congress the power to raise taxes to fund services?

the Federal Reserve Bank

the Internal Revenue Service

the Bill of Rights

the Constitution

Examine the pie chart.

Social Security and social programs

national defense and transportation

international aid and veterans’ programs

education and managing the nations’ debt

The graph shows how the federal budget grew between 1980 and 2010.

the federal government has to borrow money to meet its expenditures.

the federal government spent more on programs in each of the last 30 years.

the federal government consistently receives enough money to meet its expenditures.

the federal government has almost always spent more than it receives.

In addition to raising money, the government imposes excise taxes to

protect manufacturers of specific products.

encourage the use of specific products.

discourage the use of specific products.

protect consumers from specific products.

A new presidential administration takes office, after having made campaign promises to support entitlement programs.One suggestion the new president is most likely to make in the budget proposal is to

increase military spending.

raise income taxes on all people in the US.

increase spending on Social Security.

lower corporate taxes.

expenditurerevenuebudget

expenditure

revenue

budget

Based on the taxing and spending cycle, how will changing expenditures affect taxes collected by the government?

Spending less will help lower prices, leading to an increase in tax revenue for the government.

Spending less will reduce services, leading to a reduction in tax revenue for the government.

Spending more will boost prices, leading to an increase in tax revenue for the government.

Spending more will increase services, leading to a reduction in tax revenue for the government.

What is a difference between payroll and income taxes?

Payroll taxes are itemized deductions from an individual’s paycheck, while income taxes are based on an individual’s salary.

Payroll taxes are taken out of an individual’s salary once a year, while income taxes are paid by workers every time they get paid.

Payroll taxes are based on an individual’s salary, while income taxes are itemized deductions from an individual’s paycheck.

Payroll taxes are paid by individuals who have a job, while income taxes are partially funded by employers and employees.

When might workers be exempt from paying income taxes?

when they are injured on the job

when they make too much money

when they don’t earn enough money

when they are laid off by a company

an excise taxan income taxa tariff

an excise tax

an income tax

a tariff

[BLANK]