The federal government's primary source of revenue is
a. the corporate income tax
b. the personal income tax
c. property taxes
d. sales taxes
e. customs duties
B
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Harry's employer offers a "Holiday Account," which means they will take $50 a month out of Harry's paycheck and deposit it into this account throughout the year. In December, they give Harry the money in the account to spend during the holidays. Harry regularly carries about $200 of credit card debt each month. Harry's decision to set aside some of his money in this account is an example of:
A. ignoring the fungibility of money. B. recognizing that money is fungible. C. needing to categorize expenditures to make rational decisions about money. D. being rational.
When a business purchases a $25,000 computer system by writing a check, the business's balance sheet will:
A. only show an increase in liabilities of $25,000. B. show an increase in assets and liabilities of $25,000. C. only show an increase in assets of $25,000. D. still show the same total amount of assets as before the purchase.
George always purchases the soda with the lowest price. For George, the cross price elasticity of demand for two brands of soda will be
A. equal to 0. B. negative. C. positive. D. impossible to determine without more information.
Refer to the data. The national income is:
Answer the question on the basis of the following national income data for the economy. All figures are in billions of dollars.
A. $561.
B. $573.
C. $580.
D. $530.