Cities and towns mainly rely for revenue on a.excise taxes. b.income taxes. c.payroll taxes. d.property taxes. Official data may overstate the extent of poverty because a.it overstates the taxes paid by the poor. b.it overestimates the amount the poor earn in the “underground economy.” c.it does not add “in-kind” transfers to the incomes of the poor. d.poverty is a relative concept as opposed to an absolute concept.

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Answered: Cities and towns mainly rely for…

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter16: Government Spends, Collects, And Owes

Section: Chapter Questions

Problem 20AA

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Cities and towns mainly rely for revenue on

	a.	excise taxes.
	b.	income taxes.
	c.	payroll taxes.
	d.	property taxes.

Official data may overstate the extent of poverty because

	a.	it overstates the taxes paid by the poor.
	b.	it overestimates the amount the poor earn in the “underground economy.”
	c.	it does not add “in-kind” transfers to the incomes of the poor.
	d.	poverty is a relative concept as opposed to an absolute concept.

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