The federal government receives most of its revenue from three sources: personal income tax, corporate income tax, and payroll tax
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Suppose Acme and Mega produce and sell identical products and face zero marginal and average cost. Below is the market demand curve for their product. 
If Acme and Mega decide to collude and work together as a monopolist with each firm producing half the quantity demanded by the market at the monopoly price, then what will be Mega's economic profit?
A. $150 B. $100 C. $50 D. $0
The measure of GDP which effectively updates the prices for the base year each year and reduces the errors from changes in relative prices and the introduction of new goods and services is called the
A) nominal GDP. B) real GDP. C) deflated GDP. D) chain-weighted GDP.
From 1991 to 2007, the rate of inflation in the U.S. has been
a. zero. b. between zero and 2.1%. c. between 1.6% and 4.1%. d. between 3.2% and 7.2%.
Refer to Figure 5.1. In which graph could a shift from BL1 to BL2 represent a doubling of the prices of both Books and DVDs?
A. A
B. B
C. C
D. D