Question

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1.) Which of the following statements about grants is true?

a.) Grants have to be paid back within 12 months.

b.) Grants are given to help state and local governments pay for roads and education.

c.) Grants are used to fund Social Security programs.

d.) All of these choices are correct.

2.) The four main areas on which the U.S. government spends money are:

a.) payments to individuals, national defense, net interest, and grants.

b.) minimum wage payments, bond interest, national defense, and housing.

c.) net interest, military housing, entertainment, and food.

d.) minimum wage payments, entertainment, national defense, and grants.

3.) The ability-to-pay principle argues that:

a.) all individuals should pay the same amount of taxes.

b.) lower income individuals should pay less taxes than higher income individuals.

c.) people should be charged loan interest based on their incomes.

d.) None of these choices are correct.

4.) The U.S. government spends the least amount of money on:

a.) disability payments.

b.) retirement payments.

c.) health care payments.

d.) public transportation.

5.) In a proportional tax system, if an individual who makes $100,000 a year pays 25% in taxes, someone who makes $25,000 a year would pay:

a.) no taxes.

b.) 1% in taxes.

c.) 15% in taxes.

d.) 25% in taxes.

Answer 1

Grants are given to help state and local governments with expenses such as roads and education. The U.S. government spends money on payments to individuals, national defense, net interest, and grants. The ability-to-pay principle suggests that lower income individuals should pay less taxes than higher income individuals.

Step-by-step explanation:

1.) The correct statement about grants is option b.) Grants are given to help state and local governments pay for roads and education. Grants are funds provided by the government to support specific projects or programs. In this case, grants are used to assist state and local governments with expenses related to infrastructure like roads and educational initiatives.

2.) The four main areas on which the U.S. government spends money are: a.) payments to individuals, national defense, net interest, and grants. These categories represent a significant portion of the federal budget. Payments to individuals include programs like Social Security and Medicare, while national defense covers military expenditures.

3.) The ability-to-pay principle argues that: b.) lower income individuals should pay less taxes than higher income individuals. This principle suggests that tax burdens should be distributed according to a person's ability to pay, with those who earn more contributing a greater proportion of their income in taxes.

4.) The U.S. government spends the least amount of money on: d.) public transportation. While public transportation is an essential service, it does not receive as much funding as other areas like defense, healthcare, or education.

5.) In a proportional tax system, if an individual who makes $100,000 a year pays 25% in taxes, someone who makes $25,000 a year would pay: c.) 15% in taxes. A proportional tax system applies the same tax rate to individuals regardless of their income levels, so the person earning $25,000 would also pay 25% of their income in taxes.