Test Bank Public Finance in Canada 5th Edition By Harvey S. Rosen A+

$35.00
Test Bank Public Finance in Canada 5th Edition By Harvey S. Rosen A+

Test Bank Public Finance in Canada 5th Edition By Harvey S. Rosen A+

$35.00
Test Bank Public Finance in Canada 5th Edition By Harvey S. Rosen A+

[QUESTION]

1. Public finance

A. is not like public economics.

B. develops principles for understanding the government's taxing and spending activities.

C. only works for local and provincial governments.

D. all of these answer options are correct.

Ans: B

Topic: 01-01

Blooms: Remember

Difficulty: Easy

[QUESTION]

2. Key areas of provincial responsibility include

A. welfare.

B. education.

C. health.

D. all of these answers are correct.

Ans: D

Topic: 01-02

Blooms: Remember

Difficulty: Easy

[QUESTION]

3. ___________ are exclusively the domain of provincial and local governments, and the federal government does not receive any revenue from this source.

A. Personal income taxes

B. Property taxes

C. Sales taxes

D. Payroll taxes

Ans: B

Topic: 01-11

Blooms: Remember

Difficulty: Easy

[QUESTION]

4. In 2009, provincial and local governments received the largest amount of revenue from

A. personal income taxes.

B. property taxes.

C. sales taxes.

D. payroll taxes.

Ans: A

Topic: 01-11

Blooms: Remember

Difficulty: Easy

[QUESTION]

5. In 2009, the federal government received most of its revenue from

A. personal income taxes.

B. property taxes.

C. sales taxes.

D. payroll taxes.

Ans: A

Topic: 01-11

Blooms: Remember

Difficulty: Easy

[QUESTION]

6. The federal government accounts for _______ of government spending at all levels.

A. most

B. one-third

C. half

D. two-thirds

Ans: B

Topic: 01-12

Blooms: Remember

Difficulty: Easy

[QUESTION]

7. At the end of fiscal year 2014, the federal government's net public debt was around

A. $682 thousand.

B. $682 million.

C. $682 billion.

D. $682 trillion.

Ans: C

Topic: 01-12

Blooms: Understand

Difficulty: Easy

[QUESTION]

8. Complications in the computation of government expenditures arise because

A. government is so large.

B. government provides goods that have no resale value.

C. secrets are kept about what is spent.

D. accounting decisions affect the outcome.

Ans: D

Topic: 01-02

Blooms: Understand

Difficulty: Moderate

[QUESTION]

9. In evaluating changes in the growth of government, economists take into account

A. population growth.

B. size of the economy.

C. inflation.

D. all of these answers are correct.

Ans: D

Topic: 01-02

Blooms: Remember

Difficulty: Easy

[QUESTION]

10. If the size of government triples but at the same time the economy doubles, then the relative size of government has

A. shrunk.

B. grown.

C. remained constant.

D. no relevance.

Ans: B

Topic: 01-02

Blooms: Understand

Difficulty: Moderate

[QUESTION]

11. In 2009, ________ represented the largest portion of total government (all levels of government) spending

A. health

B. education

C. social services

D. protections of persons and property

Ans: C

Topic: 01-10

Blooms: Remember

Difficulty: Easy

[QUESTION]

12. Education is

A. generally financed at the provincial and local level.

B. too expensive for the federal government.

C. generally financed at the federal level.

D. financed on a voluntary basis.

Ans: A

Topic: 01-02

Blooms: Remember

Difficulty: Easy

[QUESTION]

13. Ideology is by itself ______ to determine whether any particular economic intervention should be undertaken.

A. sufficient

B. insufficient

C. irrelevant

D. all that is needed

Ans: B

Topic: 01-01

Blooms: Remember

Difficulty: Easy

[QUESTION]

14. Over time, the economic role of government has

A. declined significantly.

B. remained constant.

C. grown tremendously.

D. been too small to matter.

Ans: C

Topic: 01-02

Blooms: Remember

Difficulty: Easy

[QUESTION]

15. The federal budget is presented ________ outlining anticipated changes in tax and spending.

A. several times throughout the year

B. each year

C. every 4 years with the election of a new government

D. every time there is a tax change

Ans: B

Topic: 01-02

Blooms: Remember

Difficulty: Easy

[QUESTION]

16. Hidden costs to government include

A. direct expenditures.

B. tax expenditures.

C. accounting costs.

D. none of these answers is correct.

Ans: B

Topic: 01-02

Blooms: Remember

Difficulty: Easy

True/False

[QUESTION]

17. Health care has become an increasingly large portion of total government spending, due in part to an aging population.

A. True

B. False

C. Uncertain

Ans: A

Topic: 01-10

Blooms: Remember

Difficulty: Easy

[QUESTION]

18. A very small portion of government expenditures is financed by taxes.

A. True

B. False

C. Uncertain

Ans: B

Topic: 01-02

Blooms: Remember

Difficulty: Easy

[QUESTION]

19. In 2009, federal spending on protection of persons and property (which includes national defence) was larger than federal spending on health.

A. True

B. False

C. Uncertain

Ans: A

Topic: 01-10

Blooms: Remember

Difficulty: Easy

[QUESTION]

20. Government bills to tax and to spend must originate in the Senate.

A. True

B. False

C. Uncertain

Ans: B

Topic: 01-02

Blooms: Remember

Difficulty: Easy

[QUESTION]

21. The federal government is required to finance all its expenditures by taxation.

A. True

B. False

C. Uncertain

Ans: B

Topic: 01-02

Blooms: Remember

Difficulty: Easy

[QUESTION]

22. The provincial role in public finance in Canada has grown significantly relative to that of the federal government.

A. True

B. False

C. Uncertain

Ans: A

Topic: 01-02

Blooms: Remember

Difficulty: Easy

[QUESTION]

23. The Constitution Act has provisions for local governments' taxing and spending powers.

A. True

B. False

C. Uncertain

Ans: B

Topic: 01-02

Blooms: Remember

Difficulty: Easy

[QUESTION]

24. One approach to measure the size of government is the volume of its annual expenditures.

A. True

B. False

C. Uncertain

Ans: A

Topic: 01-02

Blooms: Remember

Difficulty: Easy

[QUESTION]

25. Expenditures, as a percentage of GDP for Canada, are not very different from those of other developed countries.

A. True

B. False

C. Uncertain

Ans: A

Topic: 01-02

Blooms: Remember

Difficulty: Easy

[QUESTION]

26. Property taxes are a major financing tool at the provincial and local government level.

A. True

B. False

C. Uncertain

Ans: A

Topic: 01-11

Blooms: Remember

Difficulty: Easy

[QUESTION]

27. About 25 percent of federal spending are transfers to provincial, territorial, and local governments.

A. True

B. False

C. Uncertain

Ans: A

Topic: 01-12

Blooms: Remember

Difficulty: Easy

[QUESTION]

28. Inflation increases the real value of debt.

A. True

B. False

C. Uncertain

Ans: B

Topic: 01-12

Blooms: Remember

Difficulty: Easy

Short Answer

[QUESTION]

29. Write an essay discussing some of the reasons that government expenditures for health care are increasing.

Ans: Government expenditures for health care have increased since 1965 for several reasons, including an aging population, rising costs of health care, and a publicly provided health care system.

Topic: 01-10

Blooms: Understand

Difficulty: Moderate

[QUESTION]

30. Do you think it is correct policy that the federal government is not required to finance all of its expenditures with tax revenues and is allowed to borrow? What are the implications of this policy?

Ans: Answers will vary, but financing out of current spending ensures that there are no deficits at the end of the fiscal year. However, in times of crisis, such as war, this type of financing would limit the government's ability to accomplish its stated goals.

Topic: 01-02

Blooms: Evaluate

Difficulty: Difficult

[QUESTION]

31. Why do/should we care that total government expenditures are becoming an increasingly smaller portion of GDP?

Ans: We should care that government expenditures are becoming an increasingly smaller portion of GDP because it may reflect a decline in the effectiveness and impact of government programs.

Topic: 01-02

Blooms: Analyze

Difficulty: Difficult

[QUESTION]

32. Discuss your views on government intervention regarding tobacco consumption.

Ans: As with many social issues, tobacco consumption will not only impact the health of the population but the ability of people to work and be productive members of society. Some will argue that this is a private issue, and the government has no role in regulating how people treat their own bodies. Others will counter that the impacts are not just to the consumer but to third parties also.

Topic: 01-02

Blooms: Analyze

Difficulty: Difficult

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