samFirst Name
New member
1.
The federal deficit was increased in 2002 as a result of
the 2001 recession
the war on terrorism
the 2001 tax cut
increased defense spending
all of the above
2. Government transfer payments, such as public assistance payments and social security payments, have been a constant percentage of the GDP since 1960.
True
False
3. Progressive income tax rates are consistent with the ability to pay principle of taxation but are inconsistent with the tax criterion of economic efficiency.
True
False
4. A balanced budget requirement at the federal level could cause problems of economic instability. True
False
5. Regressive tax rates mean that the ratio of tax collection to income rises as income rises.
True
False
The federal deficit was increased in 2002 as a result of
the 2001 recession
the war on terrorism
the 2001 tax cut
increased defense spending
all of the above
2. Government transfer payments, such as public assistance payments and social security payments, have been a constant percentage of the GDP since 1960.
True
False
3. Progressive income tax rates are consistent with the ability to pay principle of taxation but are inconsistent with the tax criterion of economic efficiency.
True
False
4. A balanced budget requirement at the federal level could cause problems of economic instability. True
False
5. Regressive tax rates mean that the ratio of tax collection to income rises as income rises.
True
False