Of the following, the largest source of tax revenue collected by state and local governments comes from
A) individual income taxes.
B) lottery revenues.
C) corporate income taxes.
D) death taxes.
E) sales taxes.
E
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Why do futures have lower information costs and higher liquidity than forward contracts?
What will be an ideal response?
A unit tax is a fixed amount per unit of a commodity sold.
A. True B. False C. Uncertain
Suppose the government has imposed a price floor on cellular phones. Which of the following events could transform the price floor from one that is binding to one that is not binding?
a. Cellular phones become less popular. b. Traditional land line phones become more expensive. c. The components used to produce cellular phones become less expensive. d. Firms expect the price of cellular phones to fall in the future.
An expected tax increase will tend to cause
A) an increase in stock prices. B) a reduction in stock prices. C) no change in stock prices. D) an ambiguous effect on stock prices.