Honors Gov Econ Final Exam

this is the tax rate applied to each additional dollar of income

tax on the transfer of property when a person dies.  Range from 18-55 percent.

Television, radio, newspapers, the internet, etc.

the production of goods/services that can be produced at a lower opp. cost

funds from fed govt to help welfare, education, highways, health and hospitals).  

Tax on goods brought into the country from another country

The written declarations of a political party

ability to make a good or service with fewer inputs than another individual, company, or nation

This level of government has the power to set election law, such as residency requirements

reduction of the econ well-being of taxpayers in excess of the amt. of rev raised by the gov.

an excess of government receipts over government spending.

high-income taxpayers pay a smaller fraction of their income than do low-income taxpayers

formed in 1944 by countries wanting to set up an int. system of fixed exchange rates

idea that taxpayers with similar abilities to pay taxes should pay the same amounts

all of the following are ex of an effective tax criteria except

Benjamin Franklin stated there were 2 certainties in life.  

Medicare, medicaid and social security taxes are part of?

The federal income tax is an example of this type of tax

This clause guarantees that the government can not mandate a religion

the price that prevails in the world market for that good

limit on the quantity of a good that can be produced abroad and sold domestically

this is the largest source of revenue for the federal government

idea that people should pay taxes based on the benefits they receive

The legal and illegal export of a nation’s currency and foreign exchange

At this level of devel. a country may have no set monetary system

C + I + G + (X-M) =

tax on donations of money paid by the person who makes the gift. 

a legal way to avoid paying taxes

tax on goods produced abroad and sold domestically.

taxes should be levied on a person according to how well that person can handle the tax.