Revenue for state and local governments is mainly sourced from:
a. personal income taxes

b. sales and property taxes.
c. corporate income taxes.
d. license fees.


b

Economics

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Which of the following best describes the substitution effect caused by a price increase?

a. A change in consumption due to the fact that you will not buy goods whose marginal value is below the new price. b. A change in consumption due to the fact that you cannot afford your original market basket. c. A smaller percentage change in quantity than in price. d. A larger percentage change in quantity than in price.

Economics

Which of the following will discourage investment

What will be an ideal response?

Economics

Which one of the following is TRUE?

A. A well-defined system of property rights benefits only the wealthy, and consequently it produces income inequality that will stifle economic growth. B. Restricting imports will enhance a country's economic growth. C. For every country that experiences an increase in its growth rate, there must be another experiencing a decline. D. Small changes in the annual growth rate amount to a measurable difference in the long-term growth trend of a country.

Economics

Refer to the figure above. If John spends his entire income on tables, how many tables can he purchase?

A) 8 B) 10 C) 30 D) 40

Economics