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Intense WISE Exam Review Questions And Answers Latest Updated
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Intense WISE Exam Review Questions And Answers Latest Updated
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Intense WISE Exam Review Questions AndAnswers Latest Updated
why does the government levy taxes ANS✔✔ a. provide goods and services
b. more taxes
Direct tax ANS✔✔ paid directly to government by taxpayers
Indirect tax ANS✔✔ imposed on one party, but paid by another
Progressive tax ANS✔✔ imposes a higher tax rate on those with higher incomes
Regressive tax ANS✔✔ has effect of imiposing a higher tax rate on those with lower incomes
Proportional tax ANS✔✔ imposes same tax rate on all regardless of income differences
what is taxed ANS✔✔ personal income
purchase
exise
property
wealth
personal income tax is ANS✔✔ your income tax-your income
2024
, purchase tax is ANS✔✔ goods and services
Exise tax is ANS✔✔ sale and transfer of certain items including air travel, phone service, gasoline.
property tax is ANS✔✔ real estate property tax and personal property tax
wealth tax is ANS✔✔ assets estate and gift taxes
The Government uses its taxing authority to generate ________ to provide goods and services for
public's benefit. Example free rider, externalities, concentrated market power ANS✔✔ revenue
The Government uses it taxing authority to stabilize the ______ ANS✔✔ economy
The Government uses it's taxing authority to address _____ ANS✔✔ social challenges
The Government uses its taxing authority to influence ________ ANS✔✔ behavior
The Federal Government Spending limited resources force governments to make ____________
ANS✔✔ choices
The Federal Government Spending a budget reflects ____ and ___ of government and it's people
ANS✔✔ priorities
goals
The Federal Government Spending when government spends more than it collects, it must ____ money
ANS✔✔ borrow
2024
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