At the state and local levels in the United States, the largest source of tax revenue is
A) grants from the federal government. B) property tax on real estate.
C) sales tax. D) individual income taxes.
C
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Use the following table to answer the question below.Quantity DemandedPriceQuantity Supplied5$7966875784693510241113If demand decreased by 4 units at each price, what would the new equilibrium price and quantity be?
A. $6 and 8 units B. $5 and 7 units C. $3 and 5 units D. $4 and 6 units
Which of the following is not a consequence of the Fed changing the reserve requirement?
A) Changes in the ratio are easily incorporated into banks' routine management. B) Changes in the ratio effectively places a tax on banks' deposit taking and lending activities. C) Decreasing the ratio will increase excess reserves. D) Increasing the ratio will decrease the amount of reserves banks have to loan.
While much of New Classical macroeconomics is being refuted by the evidence, at least one part of it may be a permanent legacy to all macroeconomists: the assumption of
A) continuous clearing of all markets. B) rational expectations. C) the unimportance of nominal variables. D) supply shocks as the main cause of business cycles.
On average, younger people have:
A. similar unemployment rates than older people. B. higher unemployment rates than older people. C. uncorrelated unemployment rates compared to those of older people. D. lower unemployment rates than older people.