The largest source of the federal tax revenue is ________
A) individual income taxes
B) corporate income taxes
C) excise taxes
D) payroll taxes
A
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A single-price monopolist will maximize profit by producing so that marginal revenue
A) exceeds marginal cost. B) is less than marginal cost. C) equals marginal cost. D) equals price.
If Bobby decides that his marginal utility per dollar spent on vanilla ice cream exceeds his marginal utility per dollar spent on chocolate ice cream, he should then
A) buy more chocolate ice cream and less vanilla ice cream. B) buy more vanilla ice cream and less chocolate ice cream. C) buy all the vanilla ice cream he can. D) never buy chocolate ice cream.
Following World War I and World War II, the United States had a
A) small trade surplus. B) small trade deficit. C) large trade deficit. D) large trade surplus.
The quantity theory of money and prices asserts that
A) increases in the money supply lead to inflation. B) increases in the money supply lead to an increase in the velocity of money. C) increases in the money supply lead to a decrease in the velocity of money. D) increases in the money supply will increase real GDP.