Of the following, the federal government obtains most revenue from
A) sales taxes.
B) Social Security taxes.
C) property taxes.
D) excise taxes.
E) corporate income taxes.
B
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Price elasticity remains constant along a straight-line demand curve
a. True b. False Indicate whether the statement is true or false
The four components that make up GDP in the expenditure approach are:
A. C, I, G, and NX. B. C, I, G, and EX. C. K, I, G, and NX. D. C, Im, G, and EX.
To maximize profit, a firm will find the
A. quantity where MR=MC unless P. B. quantity where MR=MC (with no other consideration). C. price where MR=MC. D. quantity where TR=TC.
The aggregate demand curve shows
A. the relation between the aggregate quantity of goods demanded and the price level. B. the relation between the real interest rate and output when the goods market clears. C. the demand for goods depending on the relative price of goods compared to financial assets. D. the amount of output that can be obtained given the current production function in the economy.