Many states in the U.S. acquire significant amounts of funds from the following, except
A. personal income taxes.
B. grants from the Federal government.
C. property taxes.
D. state-run lotteries.
Answer: C
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What is the fundamental principle that economists use when evaluating the costs and benefits of production?
A) cost of goods principle B) production principle C) marginal principle D) supply and demand principle
Which of the following would cause both the equilibrium price and equilibrium quantity of oysters (assume that oysters are a normal good) to decrease?
A) an oil spill that sharply reduces oyster output B) a decrease in consumer income C) a technological advancement in the production of oysters D) an increase in consumer income
Conglomerate mergers are designed to increase market share
Indicate whether the statement is true or false
Which of the following is true of sub-Saharan Africa?
a. The poverty rate in the region is low. b. The region has received more foreign aid than any other area of the world. c. Most of the countries in the region rank among the freest economies in the world. d. The poverty rate in the region is the lowest of any region in the world, and the rate has declined sharply during the past quarter of a century.