Taxes

Local, state and national governments generate revenue by ____.

• increasing the discount rate

• lowering interest rates

• distributing stimulus checks

• charging taxes

A tax levied on a person's earnings is a _____.

• property tax

• income tax

• school tax

• tariff

A _____ tax is levied on manufacture and sale of specific items such as gas, alcohol and cigarettes.

• property

• income

• excise

• All are correct

Property taxes help to pay for ____.

• street construction and maintenance

• luxury goods such as sporting event tickets for the needy

• creating new jobs in emerging industries

• bonuses for corporate executives

Tax rate increases as income increases with a ____ tax.

• regressive

• tariff

• proportional(flat)

• progressive

The tax rate decreases as income increases with a ___ tax.

• regressive

• progressive

• tariff

• proportional(flat)

The tax rate stays the same for all income levels with a ____ tax.

• regressive

• proportional

• proportional(flat)

• appreciative

A tax on imports is a ____.

• progressive tax

• regressive tax

• proportional tax

• tariff

Income tax and Social Security are examples of ____taxes.

• local

• state

• national

• regional

Property taxes and sales taxes are examples of ____ taxes.

• local

• state

• national

• regional