The major sources of federal government revenue, in descending order of their importance, are
a. individual income taxes, social-insurance contributions, and corporate profits taxes.
b. payments from the Federal Reserve, corporate profits taxes, and individual income taxes.
c. social-insurance contributions, corporate profits taxes, and individual income taxes.
d. corporate profits taxes, payments from the Federal Reserve, and individual income taxes.
Answer: a. individual income taxes, social-insurance contributions, and corporate profits taxes.
You might also like to view...
Suppose the country of Popcorn produces only jets and corn. If Popcorn cannot produce any more jets without giving up corn, we say that Popcorn has achieved
A) the highest marginal benefit. B) production efficiency. C) the lowest marginal cost. D) the highest opportunity cost.
Compared to a situation in which there is no change in the value of the dollar relative to the peso, in which of the following situations would you be worse off?
A) you borrow $10,000, you earn income in pesos, the dollar appreciates against the peso, you must pay back the loan in dollars B) you borrow $10,000, you earn income in pesos, the dollar depreciates against the peso, you must pay back the loan in dollars C) you borrow 10,000 pesos, you earn income in dollars, the dollar appreciates against the peso, you must pay back the loan in pesos D) you borrow 10,000 pesos, you earn income in pesos, the dollar depreciates against the peso, you must pay back the loan in pesos
A payment over and above that necessary to call forth a resource is called
a. profit b. rent c. taxes d. salary e. welfare
If there is a permanent increase in demand for the product of a perfectly competitive industry, the process of transition to a new long-run equilibrium will include:
a. the entry of new firms. b. temporarily higher profits. c. both a and b. d. neither a nor b.