Chapter 17 - Macroeconomics Quiz
Study online at https://quizlet.com/_fk59hn
1. If South Dakota's governor reports a budget surplus received more in
in 2011, that state government likely: taxes than it spent
in that year
2. If the state of Washington's government collects $75 budget surplus
billion in tax revenues in 2013 and total spending in
the same year is $74.8 billion, the result will be a:
3. If the government for the state of Washington collects a budget deficit
$65.8 billion in tax revenues in 2013 and total spend-
ing in the same year is $74.8 billion, the result will be:
4. A ______________________ is created each time the budget deficit
federal government spends more than it collects in
taxes in a given year.
5. A ______________________ means that government balanced budget
spending and taxes are equal.
6. A __________________________ policy will cause a progressive tax
greater share of income to be collected from those
with high incomes than from those with lower in-
comes.
7. A ________________________________ is calculated proportional tax
as a flat percentage of income earned, regardless of
level of income.
8. When the share of individual income tax collect- regressive
ed by the government from people with higher in-
comes is smaller than the share of tax collected
from people with lower incomes, then the tax is
____________________.
9. In 2010, Microsoft will pay corporate income tax corporate profits
to the federal government based on the company's
__________________.
10. What do goods like gasoline, tobacco, and alcohol
typically share in common?
, Chapter 17 - Macroeconomics Quiz
Study online at https://quizlet.com/_fk59hn
They are all sub-
ject to government
excise taxes.
11. The federal government levies an estate and gift
_____________________________ on people who tax; to the next
pass assets ____________________________, either generation
after death or during life.
12. If government tax policy requires Peter to pay $15,000 regressive
in tax on annual income of $200,000 and Paul to pay
$10,000 in tax on annual income of $100,000, then the
tax policy is:
13. If government tax policy requires Jane to pay $25,000 progressive
in taxes on annual income of $200,000 and Mary to pay
$10,000 in tax on annual income of $100,000, then the
tax policy is:
14. If government tax policy requires Bill to pay $20,000 in proportional
taxes on annual income of $200,000 and Paul to pay
$10,000 in tax on annual income of $100,000, then the
tax policy is:
15. By June, 2010, the U.S. government owed $13.6 tril- in accumulated
lion dollars ________________ that, over time, has government debt
remained unpaid.
16. The government can use _____________ in the form an expansionary
of ____________________ to increase the level of ag- fiscal policy; an in-
gregate demand in the economy. crease in govern-
ment spending
17. If a government reduces taxes in order to increase the expansionary
level of aggregate demand, what type of fiscal policy
is being used?
18. A typical ____________________________ fiscal poli- contractionary
cy allows government to decrease the level of aggre-
gate demand, through increases in taxes.
Study online at https://quizlet.com/_fk59hn
1. If South Dakota's governor reports a budget surplus received more in
in 2011, that state government likely: taxes than it spent
in that year
2. If the state of Washington's government collects $75 budget surplus
billion in tax revenues in 2013 and total spending in
the same year is $74.8 billion, the result will be a:
3. If the government for the state of Washington collects a budget deficit
$65.8 billion in tax revenues in 2013 and total spend-
ing in the same year is $74.8 billion, the result will be:
4. A ______________________ is created each time the budget deficit
federal government spends more than it collects in
taxes in a given year.
5. A ______________________ means that government balanced budget
spending and taxes are equal.
6. A __________________________ policy will cause a progressive tax
greater share of income to be collected from those
with high incomes than from those with lower in-
comes.
7. A ________________________________ is calculated proportional tax
as a flat percentage of income earned, regardless of
level of income.
8. When the share of individual income tax collect- regressive
ed by the government from people with higher in-
comes is smaller than the share of tax collected
from people with lower incomes, then the tax is
____________________.
9. In 2010, Microsoft will pay corporate income tax corporate profits
to the federal government based on the company's
__________________.
10. What do goods like gasoline, tobacco, and alcohol
typically share in common?
, Chapter 17 - Macroeconomics Quiz
Study online at https://quizlet.com/_fk59hn
They are all sub-
ject to government
excise taxes.
11. The federal government levies an estate and gift
_____________________________ on people who tax; to the next
pass assets ____________________________, either generation
after death or during life.
12. If government tax policy requires Peter to pay $15,000 regressive
in tax on annual income of $200,000 and Paul to pay
$10,000 in tax on annual income of $100,000, then the
tax policy is:
13. If government tax policy requires Jane to pay $25,000 progressive
in taxes on annual income of $200,000 and Mary to pay
$10,000 in tax on annual income of $100,000, then the
tax policy is:
14. If government tax policy requires Bill to pay $20,000 in proportional
taxes on annual income of $200,000 and Paul to pay
$10,000 in tax on annual income of $100,000, then the
tax policy is:
15. By June, 2010, the U.S. government owed $13.6 tril- in accumulated
lion dollars ________________ that, over time, has government debt
remained unpaid.
16. The government can use _____________ in the form an expansionary
of ____________________ to increase the level of ag- fiscal policy; an in-
gregate demand in the economy. crease in govern-
ment spending
17. If a government reduces taxes in order to increase the expansionary
level of aggregate demand, what type of fiscal policy
is being used?
18. A typical ____________________________ fiscal poli- contractionary
cy allows government to decrease the level of aggre-
gate demand, through increases in taxes.
