Social insurance taxes and individual income taxes comprise more than 80 percent of federal revenues. a. True b. False ANSWER a
Date: September 9th, 2020
State and local governments were smaller than the federal government in 1900. a. True b. False ANSWER b
Date: September 9th, 2020
Total government expenditure as a percentage of GDP is lower in the United States than in Sweden. a. True b. False ANSWER a
Date: September 9th, 2020
In 2002, government expenditures as a percentage of GDP were lowest for which country? a. Sweden b. United States c. Germany d. France ANSWER b
Date: September 9th, 2020
The individual’s budget constraint is _____. a. the amount of money she has in the bank b. determined by dividing the individuals income by the price of the goods she wants to buy c. the maximum amount one good she can consume given her consumption of other goods d. a line depicting all the possible […]
Date: September 9th, 2020
The difference between government receipts and government expenditures is called a _____. a. loss b. shortfall c. deficit d. debt ANSWER c
Date: September 9th, 2020
In 2003, the federal budget deficit was about _____ percent of gross domestic product. a. three b. zero c. seven d. ten ANSWER a
Date: September 9th, 2020
As a percentage of total federal revenues the corporate income tax has _____. a. increased since 1960 b. declined since 1960 c. fallen during the 1980s, but risen since 1992 d. remained fairly constant since 1960 ANSWER b
Date: September 9th, 2020
As a percentage of total federal revenues, the individual income tax has _____. a. increased substantially since 1960 b. declined substantially since 1960 c. increased slightly since 1960 d. declined slightly since 1960 ANSWER c
Date: September 9th, 2020
Social insurance revenues _____ come from _____. a. primarily; Social Security payroll taxes b. primarily, Medicare taxes c. primarily; Social Security payroll taxes and Medicare taxes d. do not; Social Security payroll taxes ANSWER a
Date: September 9th, 2020
