The personal income tax is the single largest source of revenue for the federal government.
Answer the following statement true (T) or false (F)
True
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In the bond market, the bond demanders are the ________ and the bond suppliers are the ________
A) lenders; borrowers B) lenders; advancers C) borrowers; lenders D) borrowers; advancers
Which statement is true?
A. During prosperity, federal government borrowing crowds out a substantial amount of private investment. B. During recessions, federal government borrowing crowds out a substantial amount of private investment. C. Neither statement is true.
What is the equilibrium price and quantity under a monopsony?
a. P = 200 and Q = 20 b. P = 240 and Q = 20 c. P = 260 and Q = 24 d. P = 280 and Q = 26
If the demand for cigarettes is highly inelastic, this indicates that:
A. higher cigarette prices will increase the demand for cigarettes. B. the price elasticity coefficient of cigarettes exceeds 1. C. the price elasticity coefficient of cigarettes equals 1. D. the quantity of cigarettes purchased by consumers is not very responsive to a change in the price of cigarettes.