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Up To US
Up To US
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StudBud Administration
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Quiz regarding the Fall 2020 campaign.
Flashcards
25 cards
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Practice quiz
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Questions
25
Answers
1
Why does the government owe the most to American people
Payroll Tax Deductions
Low Income Jobs
Health Care Expenditures
Social Security Trust Fund
2
Taken as a whole, the federal tax system is
Progressive - higher-income pay proportionately larger ampount of taxes
Regressive - lower-income pay proportionally larger amounts of tax
3
What will happen to future Generaions if Debt is not handled
Future Generations will face Higher Tax Burdens
The Debt will go Away
The Debt will be Lowered because of Inflation
Debt will be paid off by Boomer Generation
4
Which Country has the Highest amount of Debt?
United states
Japan
Brazil
United Kingdom
5
The largest source of government revenues is
Corporate income taxes
Estate and gift taxesSEE ANSWER
Individual Income Tax
Payroll taxes
6
GDP stands for Gross Domestic Product
True
False
7
Fiscal policy awareness is important because
the cost of living will sky rocket
it will reduce budget cuts if we are unaware
infrastructure spending will increase tremendously
interest costs will soon exceed spending costs
8
GDP is a measure of economic growth
False
True
9
Spending on general govt operations and federal programs projected under current policy to decline over next decade
Shrink Government
Tax Cutter
Strengthen Social Safety Net
Protect the Edlerly
10
What is the current national debt?
28 billion
31 Trillion
32 Billion
12 Trillion
11
What happens if the government raises borrowing rates to combat inflation?
Banks Lend out more money
Businesses usually experience higher borrowing costs
Banks borrow more money
Businesses usually experience lower borrowing costs
12
The US Tax Burden is Less than Most Advanced Economies
False
True
13
How much interest is currently owed on the national debt?
The total interest for 2022 is $2.1 trillion
The total interest for 2022 is $478 billion
The total interest for 2022 is $479 billion
The total interest for 2022 is $298 billion
14
Which of the following is a key element in the nations fiscal policy?
GDP
FBI
SBA
CBO
15
Up To Us is a bipartisan campaign
True
False
16
The national deficit affects...
Busnisses
Neither red nor orange
Both red and orange
Taxpayers
17
Fiscal Policy is government adjusts its spending levels and tax rates to monitor and influence a nation's economy
False
True
18
Government influence on economic activity, by manipulating the supplies of money/credit and by altering interest rates
Monetary Policy
Fiscal Policy
19
Which tax is the Largest source of government Revenue?
Estate Tax
Corporate Tax
Individual Tax
Payroll Tax
20
What was the national debt in March (pre-pandemic)
25.7 Trillion
22.7 Trillion
23.7 Trillion
24.7 Trillion
21
The lowest-earning 40% of Americans do not pay federal taxes
True
False
22
The only focus of Up To Us is to gain pledges
True
False
23
What is one of the primary goals of the Up To Us campaign?
Raise awareness about a strong fiscal foundation
All of the above
Change the fiscal policy with pledges
Convince the government to lower taxes
24
Who does the federal government currently owe the most money to?
Foreign entities
Federal reserve banks
The American people
Federal restitution programs
25
Rising Debt will crowd out serious investments such as Education and Health
False
True
