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Exploring GovQuiz12
Question | Answer |
---|---|
1. A budget is a plan of income and expenses. | True |
2. When government prints money to make up a budget shortfall, it can cause an increase in the power of the dollar. | False. When Government prints money to make up a budget shortfall, it can cause inflation. |
3. The total debt of the federal government is approaching twenty million dollars | False. The total debt of federal government is approaching twenty trillion dollars |
4. The greatest source of revenues for the federal government is the excise tax | False. The greatest source of revenue for the federal government is the income tax. |
5. A tax that state and local governments impose when a person makes a routine purchase is called a sales tax | True |
6. Federal categorical grants have few guidelines for state and local government | False. Federal categorical grants have specific guidelines for state and local governments |
7. The major portion of a county's revenue comes from property taxes | True |
8. Tax freedom day is the day when the average american has worked enough to pay all the taxes he owes that year | True |
9. Presidents Grover Cleveland believed that the government should not support the people | True |
10. The proper purpose of taxation is raising revenue for proper government functions. | True |