The citizens of a small city have been eager to see more green space in their environment. There are several abandoned lots that activists think could be turned into community gardens or parks for people to freely enjoy.
Question
Use the passage to answer the question.
For the additional green spaces to be considered public services, what must be true?
(1 point)
Responses
The local government uses tax money to create them.
The local government uses tax money to create them.
A national business provides funding for some of the spaces.
A national business provides funding for some of the spaces.
People who purchase season passes to the spaces get access.
People who purchase season passes to the spaces get access.
Citizens hold a fundraiser to pay for the project.
Citizens hold a fundraiser to pay for the project.
The correct answer is: The local government uses tax money to create them.
What is one source of revenue for the federal government to pay for public goods and services?
(1 point)
Responses
property taxes
property taxes
sales taxes
sales taxes
income taxes
income taxes
excise taxes
excise taxes
The correct answer is: income taxes.
What is one of the things the Federal Reserve System does?
(1 point)
Responses
set income tax rates at the federal level
set income tax rates at the federal level
influence interest rates
influence interest rates
decide who can open bank accounts
decide who can open bank accounts
give loans to bank customers
The correct answer is: influence interest rates.
How might the government deal with a huge company that has no competitors and is charging customers high prices?
(1 point)
Responses
break the company up into smaller competing firms
break the company up into smaller competing firms
fine the company based on its profits for a given year
fine the company based on its profits for a given year
force the company to pay taxes at a higher rate
force the company to pay taxes at a higher rate
assign a government agent to observe the company’s leadership
The correct answer is: break the company up into smaller competing firms.
A new administration reforms a state’s tax code. Corporate tax was increased by 3%, allowing the value-added tax on consumer goods to be reduced by 5%. This had no net effect on the state budget as the two tax changes balanced each other out.
Question
Use the passage to answer the question.
What is a likely effect of this change in tax policy?
(1 point)
Responses
High-income people will choose to leave the state.
High-income people will choose to leave the state.
Nonprofits will become a larger part of the economy.
Nonprofits will become a larger part of the economy.
Consumers in the state will choose to buy fewer things.
Consumers in the state will choose to buy fewer things.
Financial institutions will be less likely to invest in the state’s companies.
Financial institutions will be less likely to invest in the state’s companies.
⚠❗DONT LISTEN TO THE BOT ON THE LAST QUESTION❗ ⚠
THE ANSWER IS ACTUALLY: Financial institutions will be less likely to invest in the state’s companies.
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