With respect to local finance:
A. death and gift taxes are the major source of revenue and most expenditures are for
hospitals and health services.
B. the corporate income tax is the major source of revenue and natural resource development
is the major type of expenditure.
C. property taxes are the basic source of revenue and education is the major type of
expenditure.
D. sales and excise taxes are the major source of revenue and highway construction and
maintenance is the major type of expenditure.
Answer: C
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If a country removes an import quota, what happens to its exchange rate, its exports, and its net exports?
If firms and workers could predict the future price level exactly, the short-run aggregate supply curve would be
A) upward sloping. B) downward sloping. C) horizontal. D) vertical.
The unemployment rate does not tend to fall as soon as the economy pulls out of a recession. Which of the following best explains this?
A. During recessionary periods, firms switch to more capital-intensive production techniques, so they do not need to increase employment as the economy pulls out of the recession. B. Firms are holding excess labor, so as the economy pulls out of the recession, firms do not need to hire new workers immediately. C. Firms' optimism about the state of the economy increased prior to the economy pulling out of the recession, so firms increased their employment earlier. D. Firms are not able to find qualified workers to fill the job vacancies.
The largest in-kind transfer program in the United States is (are)
A. SNAP. B. Welfare. C. Medicare and Medicaid. D. the Housing Program.