Professional Documents
Culture Documents
Use this to guide your reading through the unit. It is strongly recommended that you take notes, as they
will assist you for quizzes and tests.
Objectives:
Chapter 13 – Overlaps with Econ Book Chapter 14
13.1 Describe the sources of funding for the federal government and assess the consequences of tax expenditures and borrowing.
13.2 Analyze federal expenditures and the growth of the budget.
13.3 Outline the budgetary process and explain the role politics play.
13.4 Assess the impact of democratic politics on budgetary growth and of the scope of government.
14.1 Describe tax bases and tax structures
14.2 Explain the basic characteristics of corporate income taxes, the purposes of Social Security, Medicare, and unemployment taxes.
14.3 Distinguish the differences between mandatory and discretionary spending and analyze the impact these types of expenditures have on the budget.
Econ Book Chapter 15
15.1a Describe how the government uses fiscal policy as a tool for achieving its economic goals.
15.1b Analyze the impacts of fiscal policy and explain its limitations.
15.2 Compare and contrast Keynesian economic theory and supply-side economic theory as they relate to fiscal policy.
15.3 Analyze how deficit spending adds to the debt and summarize problems caused by rising debts and the options to reduce the debt.