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The tax system is how modern governments shift resources from producing goods

 The tax system is how modern governments shift resources from

a.producing goods to producing services

b.government to the private sector

c.the private sector to government

d.the U.S. Treasury to the Federal Reserve System

e.one sector of the economy to another

102.              When the government decides to add a fighter aircraft to national security, it

a.builds it in its own defense factories

b.commandeers the resources (labor, capital) and uses them to build the plane

c.must go to the Fed for the money to buy the aircraft since the Fed is the agency that
creates money

d.taxes its people and pays an aircraft company to make a plane

e.taxes Boeing to produce the Boeing aircraft

103.              A tax of a specific absolute sum, say $100, levied on every person or every household is
                            known as a(n)

a.excise tax

b.sales tax

c.external tax

d.duty

e.poll tax

104.              If everyone were taxed the same absolute amount, say $500, this tax would be
                            considered

a.progressive

b.a unit tax

c.regressive

d.excise

e.cooperative

 

 

 

 

105.              A tax whose impact varies inversely with the income of the person taxed, that is, poor
                            people pay a higher percent of their income than do rich people, is known as a

a.regressive tax

b.progressive tax

c.proportional tax

d.flat tax

e.an excise tax

106.              When the government levies a tax that is the same fixed percentage of people’s incomes,
                            this tax is known as a(n)

a.regressive tax

b.progressive tax

c.proportional tax

d.excise tax

e.a unit tax

107.              Consider two people, Sandy Roos, who earns $25,000, and Gary Behrman, who earns
                            $50,000. If the flat-tax rate is 20 percent, then

a.the government collects a total of $20,000

b.Gary pays twice the tax amount Sandy pays

c.Gary pays three times the tax amount Sandy pays

d.Gary and Sandy pay exactly the same tax amount

e.Gary pays $15,000 in taxes

108.              Consider two people, Sandy Roos, who earns $25,000, and Gary Behrman, who earns
                            $50,000. If the current flat-tax rate is 20 percent, then

a.Gary would prefer a poll tax to a flat tax

b.Sandy would prefer a poll tax to a flat tax

c.Gary and Sandy both pay the same amount of tax

d.Sandy would prefer the flat tax to a progressive income tax

e.Gary would prefer a progressive income tax to the flat tax

109.              A tax that varies directly with the income of the person—the higher the income, the
                            higher the tax rate—is known as a(n)

a.regressive tax

b.progressive tax

c.proportional tax

d.flat tax

e.excise tax

110.              A tax where wealthy people pay a larger percentage of their income than poor people is
                            known as a(n)

a.excise tax

b.flat tax

c.proportional tax

d.progressive tax

e.regressive tax

Feb 11 2020 View more View Less

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