Question

QUESTION 45 State and local governments provide ________ of the spending on education a. about 50%...

QUESTION 45

State and local governments provide ________ of the spending on education

a. about 50%
b. about 25%
c. about 90%

QUESTION 46

The U.S. ________ is higher than the ________.

a. surplus; budget
b. deficit; debt
c. debt; deficit

QUESTION 49

  1. The smaller share of federal tax revenues comes from

    a. corporate income taxes.
    b. payroll taxes (for Social Security & Medicare).
    c. individual income taxes.

QUESTION 53

When the government increases its spending, it is conducting

a. fiscal policy.
b. monetary policy.
c. supply-side policy.

QUESTION 55

Which number is higher?

a. U.S. budget deficit.
b. U.S. budget surplus.
c. U.S. federal debt.

Homework Answers

Answer #1

Q 45 Option b

Expenditure on higher education is 10% and elementary and secondary education is 21%, totalling to 31%

Q 46 Option c

The annual debt is higher than the deficit as congress borrows from retirement funds.

Q 49 Option a

Corporate income taxes 11%, payroll taxes 33% and individual income taxes 47%

Q 53 Option c

Supply side policies are government attempts to increase productivity and increase efficiency in the economy. Example higher government spending oy transport, education and communication.

Q 55 Option c

Deficit is around $1.109 trillion where as the nation debt is around $ 23.3 trillion.

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