MBF_GE_Micro_TBI_Ch19 - Chapter 019 Public Finance Expenditures and Taxes File Chapter 019 Public Finance Expenditures and Taxes Multiple

MBF_GE_Micro_TBI_Ch19 - Chapter 019 Public Finance...

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Chapter 019 Public Finance: Expenditures and TaxesFile: Chapter 019 Public Finance: Expenditures and TaxesMultiple Choice[Question]1. Proprietary incomerefers to: A. revenue flowing to the government from taxes.B. money borrowed by the government to finance its operations.C. revenue generated by government-run businesses.D. transfer payments from the government to the owners of property resources.Answer: CTopic: Government and the circular flowLearning Objective: 19-01: Identify the main categories of government spending and the main sources of government revenue.Difficulty: 1 EasyBloom’s: Level 1 RememberAACSB: Reflective ThinkingStatus: New[Question]2. Revenues flowing to the government from government-run or government-sponsored businesses, such as public utilities and state lotteries, are known as: [Question]3. The addition of government to the circular-flow model illustrates that government:
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4. Refer to the above diagram, in which solid arrows reflect real flows; broken arrows are monetary flows. Flow (1) might represent:[Question]5. Refer to the above diagram, in which solid arrows reflect real flows; broken arrows are monetary flows. Flow (2) might represent:A. the provision of national defense by government.B. a government subsidy to farmers.C. corporate income tax payments.D. welfare payments to low-income families.Answer: CTopic: Government and the circular flowLearning Objective: 19-01: Identify the main categories of government spending and the main sources of government revenue.
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Chapter 019 Public Finance: Expenditures and TaxesDifficulty: 2 MediumBloom’s: Level 3 ApplyAACSB: Reflective ThinkingType: FigureRefer To: 19_4[Question]
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