PLEASE HELP!! ECOMICS TEST! please just dont write something to get the points, please and thank you :)
1. Match the definition with the tax.
Drag each item to the correct location.
Put responses in the correct input to answer the question. Select a response, navigate to the desired input and insert the response. Responses can be selected and inserted using the space bar, enter key, left mouse button or touchpad. Responses can also be moved by dragging with a mouse.
A tax levied on the profits earned from business activities.
A tax paid on the wages and salaries of employees.
A tax by state and local governments on the sale of goods and services at the point of sale.
A tax paid on personal earnings from wages, interest, and investments.
A tax paid to local governments by landowners, homeowners, and businesses.
2. Education accounted for what percentage of Michigan state expenditures in 2017?(1 point)
16%
14%
30%
27%
3. The opposite of expansionary fiscal policy is typically called contractionary fiscal policy. Economically, what is the most typical reason that a government would want to engage in contractionary fiscal policy? Explain. (1 point)
Since expansionary fiscal policy can increase inflation, a government might want to engage in contractionary fiscal policy to reduce inflation.
Since expansionary fiscal policy can restrict trade, a government might want to engage in contractionary fiscal policy to increase trade.
Since expansionary fiscal policy tends to be wildly unpopular with voters, a government might want to engage in contractionary fiscal policy to increase the administration's chances of holding onto governmental power.
Since expansionary fiscal policy can cause tension with neighboring countries, a government might want to engage in contractionary fiscal policy to reduce that tension.
4. Explain how adjusting the reserve requirement can have either a positive or negative impact on the economy depending on the change.(1 point)
Increasing the reserve rate increases a bank's ability to lend money, stimulating the economy. Decreasing the reserve rate decreases a bank's ability to lend money, slowing the economy.
Increasing the reserve rate decreases a bank's ability to lend money, slowing the economy. Decreasing the reserve rate increases a bank's ability to lend money, stimulating the economy.
Increasing the reserve rate increases a bank's ability to lend money, slowing the economy. Decreasing the reserve rate decreases a bank's ability to lend money, stimulating the economy.
Increasing the reserve rate decreases a bank's ability to lend money, stimulating the economy. Decreasing the reserve rate increases a bank's ability to lend money, slowing the economy.
