Government Functions and Finance - Federal Spending and Revenue Analysis
Explore the functions of government, including providing a legal structure, maintaining competition, redistributing income, and more. Learn about government finance, federal spending categories, major revenue sources, and analyze data from 2009 and 2011.
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2b Functions of Government and Government Finance This web quiz may appear as two pages on tablets and laptops. I recommend that you view it as one page by clicking on the open book icon at the bottom of the page.
2b Functions of Government Government Finance
2b Functions of Government Providing the Legal Structure Maintaining Competition Redistributing Income Reallocating Resources Correct Externalities Provide Public Goods Promoting Stability
2b Government Finance Government Revenue and Expenditures Federal State Local Regressive, Proportional, and Progressive Taxes Average Tax Rates Marginal Tax Rates
1. What is the major expenditure category for the Federal Government? 1. National defense 2. Public Welfare (Income Security) including Pensions 3. Health Care 4. Transportation 5. Education 6. Housing
1. What is the major expenditure category for the Federal Government? 1. National defense 2. Public Welfare (Income Security) including Pensions 3. Health Care 4. Transportation 5. Education 6. Housing
Federal Spending 2009
Federal Spending 2011
2. What is the major source of Revenue for the Federal Government? 1. Income Tax 2. Sales and Excise Taxes 3. Payroll Taxes 4. Property Taxes 5. Corporate Income Tax 6. Licenses and fees
2. What is the major source of Revenue for the Federal Government? 1. Income Tax 2. Sales and Excise Taxes 3. Payroll Taxes 4. Property Taxes 5. Corporate Income Tax 6. Licenses and fees
Federal Revenues 2009
3. What is the major expenditure category for State Governments? 1. National defense 2. Public Welfare (Income Security) including Pensions 3. Health Care 4. Transportation 5. Education 6. Housing
3. What is the major expenditure category for State Governments? 1. National defense 2. Public Welfare (Income Security) including Pensions 3. Health Care 4. Transportation 5. Education 6. Housing
State Spending 2007
State Spending 2011
4. What is the major source of Revenue for State Governments? 1. Income Tax 2. Sales and Excise Taxes 3. Payroll Taxes 4. Property Taxes 5. Corporate Income Tax 6. Licenses and fees
4. What is the major source of Revenue for State Governments? 1. Income Tax 2. Sales and Excise Taxes 3. Payroll Taxes 4. Property Taxes 5. Corporate Income Tax 6. Licenses and fees
State Revenues 2007
State Revenues 2011
5. What is the major expenditure category for Local Governments? 1. National defense 2. Public Welfare (Income Security) including Pensions 3. Health Care 4. Transportation 5. Education 6. Housing
5. What is the major expenditure category for Local Governments? 1. National defense 2. Public Welfare (Income Security) including Pensions 3. Health Care 4. Transportation 5. Education 6. Housing
Local Government Spending 2007
Local Government Spending 2010
6. What is the major source of Revenue for Local Governments? 1. Income Tax 2. Sales and Excise Taxes 3. Payroll Taxes 4. Property Taxes 5. Corporate Income Tax 6. Licenses and fees
6. What is the major source of Revenue for Local Governments? 1. Income Tax 2. Sales and Excise Taxes 3. Payroll Taxes 4. Property Taxes 5. Corporate Income Tax 6. Licenses and fees
Local Government Revenues 2007
Local Government Revenues 2010
7. A Progressive Tax is one where those with higher incomes: 1. Pay more than those with lower incomes 2. Pay the same as everyone else 3. Pay a higher % of their income in taxes 4. Pay less than those with lower incomes
7. A Progressive Tax is one where those with higher incomes: 1. Pay more than those with lower incomes 2. Pay the same as everyone else 3. Pay a higher % of their income in taxes 4. Pay less than those with lower incomes
8. A Regressive Tax is one where those with higher incomes: 1. Pay less than those with lower incomes 2. Pay the same as everyone else 3. Pay a higher % of their income in taxes 4. Pay a lower % of their income in taxes
8. A Regressive Tax is one where those with higher incomes: 1. Pay less than those with lower incomes 2. Pay the same as everyone else 3. Pay a higher % of their income in taxes 4. Pay a lower % of their income in taxes
9. A Proportional Tax is one where those with higher incomes: 1. Pay less than those with lower incomes 2. Pay the same % of their income in taxes 3. Pay a higher % of their income in taxes 4. Pay a lower %e of their income in taxes
9. A Proportional Tax is one where those with higher incomes: 1. Pay less than those with lower incomes 2. Pay the same % of their income in taxes 3. Pay a higher % of their income in taxes 4. Pay a lower %e of their income in taxes
2017 Tax Rates Single Taxpayer YP # 29
10. Use the tax table above. If income is $10,325 what is the marginal tax rate? 1. 10 % 2. 15 % 3. 25 % 4. 28 % 5. 33 % 6. 35 %
10. Use the tax table above. If income is $10,325 what is the marginal tax rate? 1. 10 % 2. 15 % 3. 25 % 4. 28 % 5. 33 % 6. 35 % 17% 17% 17% 17% 17% 17% 10% 15% 25% 28% 33% 35%
11. Use the tax table above. If income is $10,325 what is the amount owed in taxes? 1. $ 0 2. $ 932.50 3. $1,082.50 4. $1,548.75
11. Use the tax table above. If income is $10,325 what is the amount owed in taxes? 1. $ 0 2. $ 932.50 3. $1,082.50 4. $1,548.75 25% 25% 25% 25% $0 $932.50 $1,082.50 $1,548.75
12. Use the tax table above. If income is $10,325 what is the average tax rate? 1. 10 % 2. 10.5 % 3. 15 % 4. 25 %
12. Use the tax table above. If income is $10,325 what is the average tax rate? 1. 10 % 2. 10.5 % 3. 15 % 4. 25 % 25% 25% 25% 25% 10% 15% 25% 10.50%
Average tax rate = taxes paid / income Average tax rate = $1077.50 / $10,275.00 Average tax rate = 10.5%
13. The federal income tax is ____________ 1. Regressive 2. Proportional 3. Progressive
13. The federal income tax is ____________ 1. Regressive 2. Proportional 3. Progressive
14. A sales tax is ____________ 1. Regressive 2. Proportional 3. Progressive
14. A sales tax is ____________ 1. Regressive 2. Proportional 3. Progressive
15. The payroll (Soc. Sec.) tax is ________ 1. Regressive 2. Proportional 3. Progressive
15. The payroll (Soc. Sec.) tax is ________ 1. Regressive 2. Proportional 3. Progressive
16. The property tax is ____________ 1. Regressive 2. Proportional 3. Progressive
16. The property tax is ____________ 1. Regressive 2. Proportional 3. Progressive
