The two largest sources of federal tax revenue are the _____ and the _____ tax.
Fill in the blank(s) with the appropriate word(s).
personal income; payroll (Social Security)
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Explain the statement "There is no such thing as a free lunch."
What will be an ideal response?
Which of the following contributed to the clear advancement of the automobile and steel industries?
(a) Oligopoly behavior (b) Voluntary export restrictions (c) Quotas set for the number of foreign products entering the U.S. (d) Dynamic entrepreneurialism
Consider the Keynesian consumption function. If disposable income is greater than the break-even level of disposable income, then households will be:
A. investing. B. borrowing. C. dissaving. D. saving.
Refer to the consumption schedule above. The average propensity to save at income level B is represented by:
A. 0C/0B
B. EF/BE
C. EF/BF
D. DE/AB