The main source of revenue for the U.S. federal government is
a. personal income taxes
b. corporate income taxes
c. sales taxes
d. borrowing on financial markets
e. revenue from the sale of government goods and services
A
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If its exports are greater than its imports, then a country has a:
A. trade deficit. B. trade surplus. C. government budget surplus. D. government budget deficit.
Assuming that resources are specialized, the opportunity cost of an item increases as the production of it rises. This implies that firms will produce more as
A. the price increases. B. the price decreases. C. the opportunity cost is greater than the price. D. government asks firms to produce more. E. the income of buyers increases.
In 2007 ROA for banks in the United States stood at a little under __________ percent
A) one B) five C) eight D) twenty
A profit-maximizing monopolistically competitive firm will expand output to the point where:
a. total revenue equals total cost. b. marginal revenue equals marginal cost. c. price equals average total cost. d. price equals marginal cost.