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Exam 14: Government Spending,Taxation,and the National Debt: Who Wins and Who Loses

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Question 21

Multiple Choice

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The fears of people concerning distribution of taxes are related to

A) Equity or justice in taxation
B) Ample evidence that there are tax inequities in the tax system at all levels of government
C) The complete lack of understanding that people have about the purpose of taxes
D) Both (a) and (b)
E) All of the above

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Question 22

Multiple Choice

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An increase in government borrowing will cause which of the following?

A) A decrease in the demand for loanable funds
B) A decrease in the supply of bonds
C) An increase in the interest rate
D) An increase in the price of bonds
E) All of the above

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Question 23

Multiple Choice

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Proportional tax rates mean that the ratio of tax collection to income

The Following Questions Refer to the graph below. -Given demand curve D,if a tax independent of output is levied on this good,how much of the tax will be shifted forward?

In general,a tax levied on net income of a corporation would be shifted to consumers in the short run.

A national crime lab used to prevent criminal activity nationwide is an example of a

The highest effective federal tax rate in the United States falls on which income category?

Government purchases of goods and services have remained a constant percentage of the GDP for the last two decades.

The first budget surplus since 1969 occurred in 1998.

The United States has not had a federal budget surplus since the 1960s.

The federal government uses the tax code to encourage certain behaviors.

In the US,major sources of tax revenues are:

An increase in government borrowing increases the demand for loanable funds.

The Following Questions Refer to the graph below. -Marginal external benefits are represented on the graph as the distance

Which of the following countries has the lowest taxes collected (as a percent of GDP) ?

In the absence of externalities,government actions are needed to ensure the efficiency of the market system.

Which of the following is an example of a public good or service?

A budget deficit occurs when tax revenues exceed government spending.

The Economic Growth and Taxpayer Relief Reconciliation Act,the Job Creation and Worker Assistance Act,and the Jobs and Growth Tax Relief Act each reduced effective tax rates on incomE.

The Economic Growth and Taxpayer Relief Reconciliation Act passed by Congress and signed by President George W.Bush did which of the following?