ECON MICRO
5th Edition
ISBN: 9781337000536
Author: William A. McEachern
Publisher: Cengage Learning
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Question
Chapter 3, Problem 3.11P
To determine
The various sources of the government revenue in the United States, determining the important tax for each level of government and the maximum revenue earning taxes of the government.
Concept Introduction:
Government Revenue: It is the revenue generated by the government from various sources which is utilized for the welfare of the general population.
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Students have asked these similar questions
Qs 4: What is the meaning of the term ‘tax expenditure’?
13.
Federal revenue consists of taxes levied on:
personal income and sales.
both residents and non-residents.
both individuals and businesses.
estates and corporations.
11-The selling price of a product in Oman is higher than the price in Dubai although both products are having the same nature. Customers are buying the product from Dubai due to the price differences. What will be the effect of the customers buying the products from Dubai? (1) Due to this, appreciation in the value AED (United Arab Emirates Dirham) relative to OMR, (2) Due to this, depreciate in the value AED (United Arab Emirates Dirham) relative to OMR, (3) Product sold in Oman market will decrease and the retail price will go down, (4) Product sold in Oman market will decrease and the retail price will go up, (5) The demand for the product and prices will increase in Dubai
a. (2) and (3) only
b. (1), (2), (3), (4) and (5)
c. (1) and (2) only
d. (1), (3) and (5) only
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