Texas and Alaska raise so much money from taxes on the extraction of natural resources that they do not have to impose individual income taxes. A tax on the extraction of a natural resource is known as a ________ tax.
A. business
B. regressive
C. consumptive
D. capital gains
E. severance
Answer: E
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Which of the following is an example of a tax exemption?
a. A man who deducts a healthcare expense from his pretax income. b. A low-income family who receives a direct tax rebate. c. A woman who subtracts a sum from her taxable income for each of her children. d. The government agency that regulates tax subsidized services.
The U.S. economy no longer held the overwhelming dominance it had in 1944, thus the U.S. dropped the __________ in the 1970s
A) gold economy B) platinum standard C) gold standard D) exchange rate
A literacy test as a requirement for voting was abolished by
a. the Supreme Court. b. acts of Congress. c. laws passed by legislatures in all fifty states. d. the Twenty-fourth Amendment. e. the Emancipation Proclamation.
What was the status of affirmative action in college admissions after the Supreme Court decisions in Bakke v. University of California Board of Regents (1978) and Grutter v. Bollinger (2003)?
a. Affirmative action policies are generally permissible, as the advancement of diversity is a compelling government interest. b. Affirmative action policies are assumed to be unconstitutional unless the university can demonstrate the need to promote racial tolerance. c. Affirmative action policies must ensure that all racial and ethnic groups are represented in accordance with the population of the nation as a whole. d. All forms of affirmative action are unconstitutional because they unfairly favor some people over others based on the color of their skin.