Describe the major sources of tax revenue and expenditures for the federal government


The major source of tax revenue to the federal government is personal income taxes. The major expenditure is on income security.

Economics

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Price ceilings are primarily targeted to help

a. No one b. Consumers c. Producers d. Government

Economics

In a closed economy, each unit of output is either consumed by households or invested

a. True b. False Indicate whether the statement is true or false

Economics

In late 2008, the U.S. government extended unemployment insurance benefits for seven additional weeks, in recognition of the growing unemployment problem. This extension is an example of

A) automatic fiscal policy. B) discretionary fiscal policy. C) expansionary monetary policy. D) supply-side fiscal policy.

Economics

Which of the following is common to all investments?

A. The payment of interest. B. Some price must be paid to acquire them. C. Owners are guaranteed future payments. D. Government insurance backs them.

Economics