1-Most of the Taxes we pay in the United States fall into which of the following?

1. Regressive Tax
2. Progressive Tax
3. Equitable Tax
4. Proportional Tax

2- Which of the following is Debbie experiencing if she accepted voluntary layoff from her factory job because in September she starts work as a Kindergarten Teacher?

1. Seasonal Unemployment
2. Cyclical Unemployment
3. Structural Unemployment
4. Frictional Unemployment

3-Since the passage of the "Unfunded Mandates Act"government programs, at their creation, must include, in the language of their creation, the source of their funding.

1. True
2. False

4-The Fair Tax has been discussed many times in the US since its introduction in the earlier years of the 21st Century.Which of the following best describes it?

1. None of the Above
2. A Proportional Tax, which is why it is called FAIR
3. A Progressive Tax, aimed at making the Wealthy Pay their Share
4. A Regressive Tax, which could do irreparable harm to the US economy

5-Which of the following are not part of the Expenditures Approach to Calculating GDP?

1. Net Exports
2. Government Spending
3. Grosse Private Domestic Consumption
4. Consumption Expenditures
5. Taxation

6-Which of the following is NOT a component of the Expenditures approach to calculating GDP?

1. Consumer spending
2. All of the above are part of the calculations of GDP
3. Government Spending
4. Grosse Private Domestic Investment
5. Net Exports

7-Which of the following is the GDP NOT useful for?

1. GDP is useful for all of the above
2. Tracking our progress through Business Cycles
3. Measuring our progress in advancing Social Welfare Goals
4. Measuring Economic Growth
5. Measuring Living Standards

8-Nominal GDP is the value of national output, Real GDP expressed in constant dollars to makecomparing GDP numbers possible.

1. True
2. False

9-Market Surplus is the sum of Producer Surplus and Consumer Surplus.

1. True
2. False

10-The FAIR TAX is a 23% national sales tax, which was proposed first in an article in the Washington Post.

1. True
2. False

11-Which of the following would be best for comparing the economies of two nations to determine how wealthy they are or how poor?

Group of answer choices

1. GDP
2. Nominal GDP
3. GNP
4. Real GDP
5. Per Capita GDP

12-The Regressive Tax takes a higher proportion of your income as your income goes up.

1. True
2. False