The largest source of federal tax revenue comes from
A. individual income taxes.
B. social insurance receipts.
C. corporation income taxes.
D. excise taxes.
A. individual income taxes.
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One way the government decides how to pay for public goods is:
A. how easy it is to exclude people who don't pay. B. determining who uses the good the most and increasing their property taxes. C. comparing individual's marginal benefits of the good. D. polling the public about the most appropriate funding measures.
What happens to the equilibrium price and quantity in the market for science fiction novels, a normal good, when income increases and a new technology is invented, making it easier to publish books.
a. Quantity and price both increase. b. Quantity and price both decrease. c. Quantity will increase and the price change is ambiguous. d. Price will decrease but the quantity change is ambiguous.
The components of the U.S. current account balance are:
a. goods, services, expense receipts and payments, and unilateral transfer. b. goods, services, income receipts and payments, and unilateral transfer. c. goods, services, and unilateral transfer. d. income receipts and payments, and unilateral transfer.
When foreign residents increase their demand for U.S. dollars, ceteris paribus,
A. Foreign residents, at the same time, reduce their supply of foreign currency to the foreign exchange market. B. The dollar price of foreign currency will rise. C. The dollar will appreciate in value. D. The dollar will depreciate in value.