________ taxes represent about a third of the federal government's receipts
A) Excise
B) Corporate income
C) Payroll
D) Personal income
C
You might also like to view...
Which is of the following is an example of a progressive tax?
a. An excise tax on a luxury good b. An income tax whose rate increases as income increases c. Medicare tax, which is a percentage of income d. A payroll tax that does not increase beyond a certain level of income
The graphs above show the production possibilities curves for the U.S. and Canada, which both produce cars and wheat. Based on the graphs above, which of the following is true?
A) The U.S. has an absolute advantage in both goods. B) Canada has an absolute advantage in cars. C) The U.S. has a comparative advantage in cars. D) The U.S. has a comparative advantage in wheat.
Suppose consumer preference for organic corn starts to rise while the cost of growing organic corn continues to rise. In the market for organic corn, this would be represented by the equilibrium price ________ and the equilibrium quantity ________
A) increasing; increasing or decreasing B) decreasing; increasing or decreasing C) increasing or decreasing; increasing D) increasing or decreasing; decreasing
If potential output for an economy equals $5 billion, and actual output equals $4.5 billion, then this economy has a(n):
A. trade deficit. B. expansionary gap. C. budget deficit. D. recessionary gap.