Question

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.

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.