What are the two largest sources of revenue for the average US state govt?
a. sales taxes and excise taxes
b. corporate income taxes and property taxes
c. property taxes and US import tariff revenues (taxes on imported goods)
d. income taxes and sales taxes
Ans: d. income taxes and sales taxes
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The Snowshoe Inn in Vermont charges $259 per room during the winter ski season and $149 during the summer months. The number of rooms available and the operating costs for the inn remain constant throughout the year. What is indicated by these prices?
A. The demand curve shifts out in the summer. B. The demand curve shifts out during the winter months. C. The supply curve shift in during the summer. D. There is a decrease in demand during the winter.
As a result of ________, the incomes of the top 1% of income earners during the 1970s were understated.
A. the rapid decrease in the proportion of Americans filing tax returns B. the special tax treatment of capital gains C. the increase in consumption levels D. the expansion of the non-refundable ETIC
A dominant strategy is:
A. when one strategy is chosen and cannot be changed without making at least one of the players worse off. B. when one strategy is chosen by a firm first and determines the best strategies of the other players that follow. C. when one strategy is always the best for a player to choose, regardless of what other players do. D. None of these statements is true.
This profit-maximizing (loss-minimizing) firm produces a quantity of about ________ units.
A. 70
B. 80
C. 90
D. 100