Which of the following descriptions is most representative of the mix of revenues and expenditures of the federal government? Revenue is predominantly from income taxes and payroll taxes. Expenditures include income security and interest on the national debt. Revenue is predominantly from sales taxes and may include personal or corporate income taxes. Expenditures include investments in education and infrastructure. Revenue is predominantly from excise taxes and property taxes. Expenditures include investments in infrastructure and national defense. Revenue is predominantly from property taxes but may include sales taxes or income taxes. Expenditures include investments in education and public welfare.

Which of the following descriptions is most representative of the mix of revenues and expenditures of the federal government? Revenue is predominantly from income taxes and payroll taxes. Expenditures include income security and interest on the national debt. Revenue is predominantly from sales taxes and may include personal or corporate income taxes. Expenditures include investments in education and infrastructure. Revenue is predominantly from excise taxes and property taxes. Expenditures include investments in infrastructure and national defense. Revenue is predominantly from property taxes but may include sales taxes or income taxes. Expenditures include investments in education and public welfare.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

A government collects $175 billion quarterly in tax revenue. Each year it allocates $70 billion to the justice system and $130 billion for its own administrative costs. What percentage of annual tax revenue is allocated to these two categories of government spending? Group of answer choices 37.15% 28.57% 17.51% 27.58%
Income tax is a type of ________ tax. Regressive Progressive
my choice is incorrect
List and distinguish the three major fiscal function
What type of tax raises the most revenue for the federal government? What is the largest source of revenue for state and local governments? What is the difference between a progressive tax and a regressive tax? Give an example of each.
In year one government taxes are 590,000 and government spending is 600,000 in year two government taxes are 590,000 and government spending is 590,000 in year three government taxes are 630,000 and government spending is 600,000. What is the government deficit for year two and provide the size of the government debt or surplus at the end of all three year.
Question 25 Explain and analyse the difference between direct and indirect taxation AND evaluate the view that fiscal policy is the most effective way for a government to increase long run economic growth.
A government starts with a national debt of $3.5 billion. In year 1, the government runs a budget deficit of $400 million. In year 2, the government runs a budget deficit of $1 billion. In year 3, the government runs a budget surplus of $200 million. What is the government's national debt at the end of the third year?
The marginal tax rate is equal to :the change in the tax payment divided by the change in income. the average tax payment divided by the total tax payment. the percent of total income that goes to taxes. the total tax payment divided by total income.
Which one of the following statements about our federal, state and local tax systems is true? All of our taxes are highly regressive Our Federal taxes tend to be more progressive than our State and local taxes. Our Federal taxes tend to be less progressive than our State and local taxes. Our Federal taxes tend to be less progressive than our State taxes,but, our local taxes are the most progressive of all taxes.
A government fınances all of its debt through 1-year treasury bonds. This government is able to collect $175 million in tax revenue and the country has a GDP of $765 million. If this government is able to consistently sell treasury bonds which yield 3.29% interest, what is the maximum debt-to- GDP ratio this country could maintain and still make all interest payments? Put your answer in percentage form (e.g. 30.57 not 0.3057) and then round to two decimal places.
For the government to run efficiently, it must collect tax revenue from the people. What is the greatest source of revenue for the federal government? sales taxes income taxes tariffs property taxes