What are payroll taxes used to fund? (ss and medicare)

Individual income tax is the largest source of revenue for the US federal govt.

What is an excise tax?

What are social insurance taxes used for?

What is the current tax rate for Social Security?

What are payroll taxes used for by the government?

What are progressive, regressive and flat tax systems?

A progressive income tax system is one in which

What is a marginal tax rate?

What is an import?

What is an export?

World exports are now 1/4 of all GDP

What is a closed economy?

What is an open economy?

What is a trade surplus

What is a trade deficit?

What is a budget deficit?

What is a budget surplus?

what is the largest portion of the federal budget?

What is discretionary spending?

What is mandatory spending?

What are transferpayments?

The federal govt does not (usually) impose sales tax - those are state and local.


Canada and Mexico buy the most US exports.

WTO resolves trade disputes

What is comparative advantage?