Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Chapter 12
Financing the Government
| Question | Answer |
|---|---|
| the payment made for borrowed money | interest |
| money charged as a penalty for breaking certain laws | fine |
| money raised | revenue |
| tax on individual or corporate earnings | income tax |
| the income a business has left after paying its expenses | profit |
| tax on products imported from other countries | tariff |
| shortage of money | shortage |
| revenues equal expenditures | balanced budget |
| tax that takes a larger percentage of income from high-income groups than from low-income groups | progressive tax |
| an examination by trained accountants of every item of income and expenditure | audit |
| The largest source of revenue for federal government is ______. | income taxes |
| The chief purpose of taxes is to _____ money. | Raise |
| At the federal level, the collection of taxes is handled by the ____. | IRS |
| Why is the government so expensive? | The population is increasing, as well as the standard of living, cost of health care and defense. |
Created by:
carolsmialek
Popular American Government sets