Where do the taxes collected from the government go

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Reference no: EM131783133

1. The highest subsidies from government to industry are in the following sectors:

a) Agribusiness, Energy and natural resources and Transportation b) Telecommunications, Mining and Fishing c) Commerce, Machinery and Steel

2. The largest source of tax revenue to the federal government is the:

a) corporate tax b) personal income tax c) sales tax

3. Where do the taxes collected from the government go?

a) k-12 Schools and Universities b) Revenues are redistributed to citizens who live in poverty. c) Purachases, interest payment on debt and social welfare payments.

4. A regressive tax policy means that:

a) The poor pay a larger percentage of their income for taxes than the wealthy b) The wealthy pay more in taxes c) means that new tax reductions have been proposed in Congress

5. The capital gains tax is a:

a) Tax on assets that have gained value over time, at point of sale b) Tax on retail sales c) Source of revenue for corporations.

Reference no: EM131783133

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