Which of the following forms of taxation accounts for the largest share of taxes received by state and local governments?
A) sales, excise, and gross receipts taxes
B) personal and corporate income taxes
C) license and permit fees
D) property taxes
Answer: A
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The official definition of poverty is
A) exactly the 12 percent of U.S. residents with the lowest incomes. B) exactly the 20 percent of U.S. residents with the lowest incomes. C) an absolute measure. D) a relative measure.
The idea of "spilt milk" is associated with what type of cost?
Which best explains why competition is an important part of a free-market system?
Which of the following situations is sufficient to represent current demand for a car?
A. You have plenty of money to buy it, but you can't decide if you want a motorcycle or a car. B. You have enough money to buy it, and you are willing to spend the money on the car. C. You've decided you want a car, and you can possibly borrow the money from a bank. D. You want to buy a motorcycle and a car, and you'll have enough money for both in two years.