Which four federal taxes make up the bulk of federal government tax revenues?
a. individual income tax, corporate income tax, property tax, and sales tax.
b. corporate income tax, national consumption tax, estate tax, and social security tax.
c. individual income tax, social security tax, corporate income tax, and Medicare tax.
d. social security tax, Medicare tax, estate tax, and corporate income tax.
e. none of the above
Answer: c. individual income tax, social security tax, corporate income tax, and Medicare tax.
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Along with currency not in banks and deposits in checking accounts, what is another component of the M1 measure of money?
A) traveler's checks B) debit cards C) credit cards D) prepaid accounts
A study by the Congressional Budget Office (CBO) regarding the corporate income tax included the following statement: "A corporation may write its check to the Internal Revenue Service for payment of the corporate income tax, but the money must come
from somewhere..." The comments that followed this statement argued that A) corporations pass on some of the burden of the tax to investors in the company, to workers, and to consumers. B) it is necessary to retain the tax because it is based on the ability-to-pay principle. C) the corporate income tax is a reliable source of revenue because corporations cannot avoid paying the tax. D) the tax is more progressive than the individual income tax.
Real GDP is nominal GDP adjusted for
a. price changes b. intermediate goods c. business cycle fluctuations d. international trade e. depreciation
When firms discuss pricing strategies with each other:
A. it is a violation of antitrust laws. B. it is not a violation of antitrust laws because laws cannot restrict free speech. C. it is a violation of antitrust laws only if the discussion includes punishment strategies. D. it is a violation of antitrust laws only if some firms in the industry are excluded from the discussion.