Principles of Economics (MindTap Course List)
8th Edition
ISBN: 9781305585126
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Question
Chapter 12.1, Problem 1QQ
To determine
The two most important sources of tax revenue for the federal government, state government and local government.
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Students have asked these similar questions
7.Which flows represent taxes?
a. C and D
b. E and F
c. A and B
d. D and E
A proportional tax is a tax for which people with lower incomes
Group of answer choices
A. pay a higher percentage of their incomes in tax than do people with higher incomes.
B. pay a lower percentage of their incomes in tax than do people with higher incomes.
C. pay the same percentage of their incomes in tax as do people with higher incomes.
D. pay the same amount of taxes as people with higher incomes pay.
The two largest sources of tax revenue for theU.S. federal government area. personal and corporate income taxes.b. personal income taxes and payroll taxes for socialinsurance.c. corporate income taxes and payroll taxes forsocial insurance.d. payroll taxes for social insurance and propertytaxes.
Chapter 12 Solutions
Principles of Economics (MindTap Course List)
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Similar questions
- Excise taxes on tobacco and alcohol and state sales taxes are often criticized for being regressive. Although everyone pays the same rate regardless of Income, why might this be so?arrow_forwardHave spending and taxes by state and local governments In the United States had a generally upward or downward trend in the last few decades?arrow_forwardWhat are the main categories of U.S. federal government taxes?arrow_forward
- Give some examples of changes in federal spending and taxes by the government that would be fiscal policy and some that would not.arrow_forwardWhat is the difference between a progressive tax, a proportional tax, and a regressive tax?arrow_forwardHave the spending and taxes of the U.S. federal government generally had an upward or a downward trend in the last few decades?arrow_forward
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