Which of the following is a significant revenue source for state and local governments, but not the federal government in the United States? a-payroll taxes b-income taxes c-corporate taxes d-property taxes

Q: Which of the following is included in G? Select one: a. medicare b. social security payments c.…

A: GDP stands for the gross domestic product of a country. It is the value of all the final goods and…

Q: What is the relative importance of taxation to the economy of the country

A: Taxes are a source of government revenue which is charged on the goods and services purchased by the…

Q: Given below is information about government income and expenditures: Taxes $50,000 $7,000 $8,000…

A: Given; Taxes= $50000 Government transfer to households= $7000 Interest paid on government debt=…

Q: Assume that the federal government replaces the federal income tax with a national sales tax on all…

A: A federal income tax is the tax system where the incomes of individuals, firms, other companies are…

Q: Differentiate between the following terms: a. a budget deficit.  b. the government debt.  c. a…

A: a. When the expenditure of individuals, Government, or company surpass the revenue then it is called…

Q: Contrast government debt with budget deficit or surplus

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Q: 1) There are 100 individuals where 80 of them are poor and builds the public, and 20 are rich elites…

A: Governments levy income taxes on enterprises and persons operating within their jurisdiction. Income…

Q: 03. Referring to Fig 2d and the attached table, determine whether average federal individual income…

A: A recession is the economic condition which brings contraction in the economic activities through…

Q: At the state and local levels in the United States, the largest source of tax revenue is   Group of…

A: At the state and local levels in the United States, the government collects tax revenues from the…

Q: Which of the following is generally considered to be a negative fiscal characteristic of a city?…

A: Fiscal policy: The use of government spending and tax policies to impact economic conditions,…

Q: QUESTION 3 Tax is a source of revenue to the government. The imposition of tax by the government is…

A: (a) National income = C+I+G yd= I-Tyd=$10-$20yd= -$10 millionY=C+I+GY=20+0.9(-10)…

Q: True or False: a. Federal spending has grown substantially in recent decades. b. By world standards,…

A: Public expenditure means that the public economy 's funds expended on the procurement of products…

Q: The fact that lower-income families will spend a higher percentage of their income on tangible goods…

A: Taxation system refers to the way of taxing the income of people by the state government or central…

Q: 9. An uncapped dollar-for-dollar federal matching grant may be mor efficient than a federal block…

A: Uncapped means not covered as with a cap and matchings grants in the simplest terms are grants that…

Q: Which of the following is true of government finances? state & local government's share of total…

A: The study of the government's role in the economy is known as public government finance. It is the…

Q: Eliminating double-taxation would likely a. raise saving and primarily benefit people with lower…

A: Taxation is the process where the government imposes taxes on all entities of the economy. Taxation…

Q: Which tax is the largest source of tax revenue in the United States? personal income taxes…

A: The largest source of the tax revenue of the United States government has individual tax been since…

Q: Which of the following is not a determinant of the optimal size of governmen The consumer's…

A: Various debates are taken by various economist from time to time to find the optimal size of…

Q: Calculate the property tax rate required to meet the budgetary demands of the community. Note: When…

A: Property tax is the tax levied on immovable or tangible properties such as land and buildings. The…

Q: Define the term fiscal policies and explain the government's government role in developing fiscal…

A: Fiscal policy is defined as the decision taken by the government to control the level of its…

Q: What is the relationship between budget deficit and debt ratio to Gross Domestic Product (GDP)

A: A budget deficit shown when expenses exceed revenue and indicate financial condition of a country.…

Q: Evaluate the economic impact of current and future Federal budget

A: A budget process refers to the mechanism by which a budget is generated and approved by government.

Q: The table below presents the tax revenue and spending for the government over five years.…

A: Formula to calculate Budget amount:-                                             Budget Amount=TR-GS…

Q: a. A progressive tax is one in which the average tax rate is constant as income increases. O the…

A: " Since you have posted a question with multiple sub-parts, we shall answer the first sub-parts . To…

Q: Which of the following sources of revenue is used to fund government spending? A) corporate…

A: Government expenditure is the amount of money allocated by the public sector for the acquisition of…

Q: A government budget is a financial statement presenting the government’s proposed revenues and…

A: According to Keynesian macroeconomics, government expenditure and taxation policies are able to…

Q: Identify the following 1. It refers to the revenue and expenditure measures of the public budget…

A: A budget plan is a diagram that shows you the progression of cash in your regular day-to-day…

Q: The largest source of revenue for the federal government is ? A.corporate income taxes. B. the…

A: The largest source of revenue for the federal government is Individual income taxes.

Q: Only one of the following is a true statement. Which one? Group of answer choices Japan’s debt/GDP…

A: The debt to GDP ratio shows that how much debt is being used by the government relative to GDP size.…

Q: The single largest source of revenue for the federal government are corporate income taxes. True or…

A: Taxes, penalties, fees, interest rates, and other sources of government revenue are among them.…

Q: . Why fiscal administrations important in government?

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: The information in many of the tables in this chapter can be found in the Economic Report of the…

A: 1.1. Government revenue has increased over a period of time. This growth is mainly because of the…

Q: Define progressive tax.asap

A: We know that A tax refers to an amount imposed on the person, commodities or any other item to earn…

Q: 10. Which of the following best describes government revenue? a) Government programs designed to…

A: Government of a nation needs money to finance its spending.  Government has two sources of…

Q: Explain the relationship between changes in the economic structure of direct tax revenues!

A: For developing and emerging economies,  a sufficient amount of tax revenues are a necessity for a…

Q: A tax that has a larger relative impact on the incomes of high-income individuals than on low-income…

A: Answer to the question is as follows :