1.Only bad results can come from foreign nationals and foreign governments buying U. S. Government Debt.

• False
• True

2.47% of the American population pay no income taxes at all.

• False
• True

3.Expansionary Fiscal Policy involves increasing taxation and decreasing government spending.

• False
• True

4.Since 1998 Social Security and Medicare outlays are part of the main federal budget, as are their revenues.

• False
• True

5.The Time delay associated with government's decision of what to about an economic problem (such as recession) is call Administrative Lag.

• False
• True

6.Mandatory Outlays are the expenses of government which cannot be altered.

• False
• True

7.The Largest source of Federal Revenues are corporate income taxes.

• False
• True

8.The time delay associated with government realizing that a problem (such as a recession) exists is call the Recognition Lag.

• False
• True

9.Payroll Taxes (FICA and FUTA) are paid only by employers.

• False
• True

10.Historically income tax rates have been on the rise for decades..

• False
• True

11.In Kind Transfers are payments given, not in the form of money.

• False
• True

12.Transfer payments are cash payments usually to reduce effects of poverty.

• False
• True