Economics and Personal Finance

Name Class Date Score CHAPTER 14 TEST Form A MATCHING Match each item in Column A with the items in Column B. Write the correct letters in the blanks. (3 points each) A B 1. tax on donations paid by donor A. sin tax 2. upward revision of tax brackets to offset inflation B. proportional tax 3. deducting directly from an employee's paycheck C. progressive tax 4. taxes levied on employees and employers for Social Security and D. marginal tax rate medicare E. indexing 5. a high tax on socially undesirable products F. FICA 6. tax levied on nearly all consumer purchases 7. tax rate that applies to the next dollar of taxable income G. luxury good 8. levies the same percentage of tax for everyone H. gift tax 9. higher incomes pay higher percentage rate of taxation I. sales tax 10. demand for a product rises faster than income when income J. payroll withholding grows system