Using the fiscal year 2014 estimates, the largest component of federal revenue is the
A) individual income tax.
B) corporate income tax.
C) excise tax.
D) social insurance and contributions.
A
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Use the following circular flow diagram to answer the question below.
If box A represents businesses or firms, B the resource market, and C households, and if flow (7) represents goods and services, then flow (6) would represent
A. consumption expenditures. B. goods and services. C. money income. D. resources.
Which of the following is a category (degree) of inflation?
(a) Deflation. (b) Externally induced inflation. (c) Demand-Pull inflation. (d) Stagflation.
From 2001 to 2015, the annual rate of inflation in the United States has averaged less than 1 percent.
Answer the following statement true (T) or false (F)
If the marginal benefit of reducing water pollution is constant at $10 per ton, then it is efficient to reduce water pollution:
A. to zero. B. until the marginal cost of reducing water pollution equals $10 per ton. C. as long as the marginal cost of reducing water pollution is greater than $10 per ton. D. to whatever level the market determines.