IAAO Course 402: Chapters 1-7; Questions &
Answers 100 Solved
In the form of government known as _____________, power is divided between
central and
regional governments. Federalism
______________ is the cultural concept related to legal relationships about
things that can be
possessed. Pr...
IAAO Course 402: Chapters 1-7; Questions &
Answers 100 Solved
In the form of government known as _____________, power is divided between
central and
regional governments. ✔✔Federalism
______________ is the cultural concept related to legal relationships about
things that can be
possessed. ✔✔Property
The main difference between taxes and fees is that taxes are (BROAD /
NARROW) and
(PROVIDE / DO NOT PROVIDE) the tax payer a direct benefit. ✔✔Broad
Do not provide
The U.S. property tax system uses property value as an indicator of (INCOME /
WEALTH).
✔✔Wealth
When governments require vehicle emissions tests, this is an example of
(PUBLIC / TAX)
policy. ✔✔Public
A property tax exemption for pollution control equipment is an example of
(PUBLIC / TAX)
policy. ✔✔Tax
, IAAO Course 402: Chapters 1-7; Questions &
Answers 100 Solved
Describe in general terns how current property tax systems in the U.S. differ
from earlier
property tax systems. ✔✔Current systems are almost exclusively used to provide
local, rather
than state, revenue. Current systems are much narrower, in that they tend to tax
tangible property
more than intangible property and real property more than personal property
The relative share of property tax as a funding source has declined most for
(STATE / LOCAL)
governments. ✔✔State
Today's property tax is more likely to be a tax on (TANGIBLE / INTANGIBLE)
property.
✔✔Tangible
In the U.S. property tax assessment administration is more often a (LOCAL /
STATE) function.
✔✔Local
Two types of limits increasingly found in property tax systems are limits in
______________
and _______________. ✔✔Revenue and assessed value increases
, IAAO Course 402: Chapters 1-7; Questions &
Answers 100 Solved
Because some school districts have more property wealth per pupil than others,
states have
developed _____________________ systems to level this playing field.
✔✔Equalization
Democracies tend to be promoted by (CAPITALIST / SOCIALIST) economic
systems.
✔✔Capitalist
When a town builds and operates a wastewater treatment plant, it is providing a
(PUBLIC /
PRIVATE) good. ✔✔Public
When the national government adjusts interest rates, it is exercising a
(REDISTRIBUTION /
STABILIATION) role. ✔✔Stabilization
List two causes of market failure. ✔✔Lack of information about price and quality
of goods
Limited number of buyers and sellers
List two causes of government failure. ✔✔Special interest group influences
bureaucratic costs
, IAAO Course 402: Chapters 1-7; Questions &
Answers 100 Solved
Over the last 80 years, government spending in the U.S. has tended to
(INCREASE /
DECREASE) in relation to gross domestic product. ✔✔Increase
List three attributes of a good tax system. ✔✔Fairness
Neutrality
Uniformity
Administratively, the functions of a property tax system are: ✔✔To identify and
link taxable
subjects (taxpayers) and taxable objects (property)
Produce tax assessments
Collect taxes
Greater certainty about the law and greater accessibility to non-lawyers is a
claimed advantage of
which common legal system? ✔✔Civil law
Which statement about the "Commerce Clause" of the U.S. Constitution is more
accurate?
A. It allows states to tax businesses more heavily than other types of taxpayers.
B. It assigns to Congress the power to regulate foreign and interstate commerce.
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