The two largest sources of tax revenue for the U.S. federal government are Multiple Choice excise...
The two largest sources of tax revenue for the U.S. federal government are
Multiple Choice
-
excise taxes and customs duties.
-
payroll taxes and excise taxes.
-
personal income taxes and payroll taxes.
-
personal income taxes and corporate income taxes.
The market system's answer to the fundamental question "How will the goods and services be produced?" is essentially
Multiple Choice
-
"With as much machinery as possible."
-
"Using the latest technology."
-
"By exploiting labor."
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"In ways that minimize the cost per unit of output."
-
The marginal revenue curve for a monopolist
-
Multiple Choice
-
is a straight, upsloping curve.
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rises at first, reaches a maximum, and then declines.
-
becomes negative when output increases beyond some particular level.
-
is a straight line, parallel to the horizontal axis.
Which of the following statements is not true?
Multiple Choice
-
Some public goods are paid for by private philanthropy.
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Private provision of public goods is usually unprofitable.
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The free-rider problem results from the characteristics of nonrivalry and nonexcludability.
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Public goods are only provided by government.
Homework Answers
1. Option 3. personal income taxes and payroll
taxes.
Explanation: personal income taxes and payroll
taxes for social security are two of the main sources of federal
tax revenue.
2. "In ways that minimize the cost per unit of output."
Explanation: The choice of production system depends on the cost per unit.
Add Answer to:
The two largest sources
of tax revenue for the U.S. federal government are
Multiple Choice
excise...
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and ________ are the largest sources of revenue collected by the federal government. Corporate income taxes; excise and other taxes Excise and other taxes; individual income taxes Individual income taxes; social insurance taxes Individual income taxes; corporate income taxes The nation of Hyperbole is in a recession, and the government decides to increase taxes and reduce government spending to reduce the growing deficit. This will ________ aggregate demand and will likely ________ real GDP and employment. decrease; decrease decrease; increase...
QUESTION 49 Which of the four multiple-choice answers would an economist say provides the best justification...
QUESTION 49 Which of the four multiple-choice answers would an economist say provides the best justification for 0 when the market mechanism fails to achieve the optimal mix of output. Because the government will encourage the production of private goods Because the government can increase the level f market power of private businesses. government intervention into an e conomy? When the private sector is larger than public sector. QUESTION 50 Which of the four multiple-choice answers would an economist say...
The table below shows hypothectical figures of revenue and spending for the Canadian government. For simplicity,...
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Which of the following taxes represents the largest portion of U.S. federal tax revenues? Multiple Choice...
Which of the following taxes represents the largest portion of U.S. federal tax revenues? Multiple Choice points 8 00:57:17 C Employment taxes O Corporate income taxes Individual income taxes o Estate and gift taxes o None of the choices are correct
In an effort to raise revenue without hurting lower income persons, Congress imposed an excise tax...
In an effort to raise revenue without hurting lower income
persons, Congress imposed an excise tax on luxury goods (viz.,
expensive cars, large yachts, furs, personal aircraft) manufactured
in the U.S. The excise tax imposed is represented on the diagram
below as Stax . The revenue government
anticipated it yielding is represented by the rectangle
P1abc (which is the tax per unit, distance ab, times
quantity Q1). The tax, however, did not work as
intended. After awhile domestic producers of...
1. Government transfer payments are: Multiple Choice a. included in GDP under the personal consumption of...
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Multiple Choice Envision a situation in which the federal government decides that corporations don't pay enough...
Multiple Choice
Envision a situation in which the federal government decides that corporations don't pay enough taxes (even though the U.S. corporate tax rate is 38% - the highest in the world). Also, at the same time, elected officials feel that voters will always fall for the class warfare argument that greedy corporations have too much money, so the government should take some money from the successful businesses and give it to the poor. (As W.C. Fields used to say,...
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Which of the following is a normative economic statement? Multiple Choice C) The government needs to...
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Which of the following taxes represents the largest portion of U.S. federal tax revenues? Multiple Choice points 8 00:57:17 C Employment taxes O Corporate income taxes Individual income taxes o Estate and gift taxes o None of the choices are correct
In an effort to raise revenue without hurting lower income
persons, Congress imposed an excise tax on luxury goods (viz.,
expensive cars, large yachts, furs, personal aircraft) manufactured
in the U.S. The excise tax imposed is represented on the diagram
below as Stax . The revenue government
anticipated it yielding is represented by the rectangle
P1abc (which is the tax per unit, distance ab, times
quantity Q1). The tax, however, did not work as
intended. After awhile domestic producers of...
Multiple Choice
Envision a situation in which the federal government decides that corporations don't pay enough taxes (even though the U.S. corporate tax rate is 38% - the highest in the world). Also, at the same time, elected officials feel that voters will always fall for the class warfare argument that greedy corporations have too much money, so the government should take some money from the successful businesses and give it to the poor. (As W.C. Fields used to say,...
Which of the following is a normative economic statement? Multiple Choice C) The government needs to revamp the Social Security program to make it sustainable O Health care accounts for roughly a third of total spending in the economy O Retail sales are expected to continue on their downward trend in the next three quarters, ( The poverty rate hit a new high last year and income distribution also worsened. < Prev 10 of 50 Naxt > Another way of...
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