The three most important sources of federal tax revenue in order of descending importance are:
A. sales, payroll, and personal income taxes.
B. personal income, corporate income, and sales taxes.
C. personal income, corporate income, and payroll taxes.
D. personal income, payroll, and corporate income taxes.
Answer: D
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In a simple macroeconomic model, replacing the assumption of exogenous investment with the accelerator theory of investment ________ the effect on equilibrium GDP of fiscal policy changes, and ________ the effect on equilibrium GDP of changes in
autonomous consumption. A) increases, increases B) increases, dampens C) dampens, increases D) dampens, dampens
Which act of Congress extended the government's authority to block horizontal and vertical mergers?
a. the Clayton Act b. the Sherman Antitrust Act c. the Wheeler-Lea Act d. the Celler-Kefauver Anti-Merger Act e. the Herfindahl-Hirschmann Act
If an increase in a person's income causes that person to buy more apples, then apples are
a. neutral with respect to price b. complements c. inferior goods d. normal goods e. substitute goods
Which of the following is not a reason for firms to merge?
a. to exercise greater market control b. to diversify asset holdings c. to increase control over suppliers d. to lower the Herfindahl-Hirschman Index e. to increase market share