Answer the following statements true (T) or false (F)
1. Corporate income taxes contribute more to Federal tax revenues than do personal income taxes.
2. The largest source of tax revenue for state governments is the property tax.
3. Only a few states use state-run lotteries to increase their revenues and pay for expenditures.
4. More than 50% of local and state employees are employed in the education sector.
5. If an income tax is progressive, the average tax rate will increase as incomes increase.
1. F
2. F
3. F
4. T
5. T
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"The market basket used to calculate the CPI is revised monthly to more accurately depict consumers' choices. The price data for the CPI are collected every month." Are the previous sentences true or false?
What will be an ideal response?
If a project's only risk is diversifiable,
A) only half the risk premium should be added to the discount rate. B) only half the risk premium should be subtracted from the discount rate. C) the risk premium should be added to the discount rate. D) the risk premium should be subtracted from the discount rate. E) no risk premium should be attached to the discount rate.
Double markup problems arise because
a. upstream firms have no market power b. downstream firms have no market power c. upstream and downstream products are complementary in demand d. upstream and downstream firm's pricing decisions tend to increase the demand for the other product
A flat tax would increase the possibilities of abuses and misrepresentations that go with tax deductions
a. True b. False Indicate whether the statement is true or false