In general, the largest sources of revenue for state and local governments come from:
a. Sales taxes and property taxes
b. Sales taxes and corporate taxes
c. Property taxes and individual income taxes
d. Individual income taxes and sales taxes
a
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In a deposit-refund system,
a. the refund component rewards potential polluters for proper disposal or recycling activity b. the deposit should be set equal to the MSC of illegal waste disposal to achieve efficiency c. monitoring and enforcement costs are higher than if a pollution charge were used d. actual polluters are not penalized for actions that harm the environment
Suppose the price of product X increases. We would expect this price increase to
A. decrease the demands for both complementary good Y and substitute product Z. B. increase the demand for complementary good Y and decrease the demand for substitute product Z. C. increase the demands for both complementary good Y and substitute product Z. D. decrease the demand for complementary good Y and increase the demand for substitute product Z.
The Great Depression of the 1930s led to a revolution in macroeconomic thinking, following the work of
A. Arthur Laffer. B. Milton Friedman. C. Adam Smith. D. John Maynard Keynes. E. David Ricardo.
The income transfers that a person receives from Social Security
A) is not related to the amount that they have contributed. B) is a yearly proportion of the amount contributed. C) is the same for everyone whether they contributed to the system or not. D) depends entirely on the amount received from private pensions.