Master the Basics of Public Finance and Fiscal Policy with this Quiz!

A branch of economics that studies the role of the government in the economy.

The use of government spending and taxation to influence economic conditions.

The policy of how the government obtains its funds.

The policy of how the government allocates its revenue among different uses.

The act of leading and controlling all matters pertaining to the government's debt.

The mechanism the government uses to collect revenues.

To raise revenues to finance public services and programs.

Comprehensive and unlimited, subject to constitutional and statutory limitations.

Taxation is essential to the government's existence; without it, the government cannot function and provide services.

Tax policy is an integral part of fiscal policy. Decisions about taxation are made in conjunction with decisions about government spending and borrowing.