Test #12, Chapter 15

A poll tax is a regressive tax.

Your answer:
True False

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If a tax rate is constant and income rises, the tax is proportional.

Your answer:
True False

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A property tax is based on the income of the taxpayer, not the value of the property.

Your answer:
True False

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A sales tax is an example of an excise tax.

Your answer:
True False

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A primary source of revenue for the federal government is the sales tax.

Your answer:
True False

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Deficit spending and the national debt are different terms for the same concept.

Your answer:
True False

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Treasury bills are government IOUs that mature within a year.

Your answer:
True False

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Commandeering resources is less efficient than commandeering money.

Your answer:
True False

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A head tax is an example of a proportional tax.

Your answer:
True False

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Sales taxes are regressive.

Your answer:
True False

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Governments typically exercise moral judgment in levying excise taxes.

Your answer:
True False

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Local governments rely almost exclusively upon sales taxes for revenue.

Your answer:
True False

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Debt can create inflation

Your answer:
True False

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Crowding out suggests that debt promotes over consumption.

Your answer:
True False

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Corporate income taxes are levied after dividends are distributed to stockholders.

Your answer:
True False

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Whatever specific form it takes, the excise tax is regressive.

Your answer:
True False

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The national debt refers to the difference between revenues and expenditures in any given year.

Your answer:
True False

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A deficit refers to the accumulated differences between revenues and expenditures over time.

Your answer:
True False

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The external debt can place a continuing burden on the United States by reducing consumption in the United States.

Your answer:
True False

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During the decade of the 1980’s, the size of the national debt of the United States was cut in half.

Your answer:
True False

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