The following are government activities that are involved in public finance, except |
Regulating the activities of firms in the financial sector of the economy |
The circular flow model would show that government |
Provides goods and services to businesses and households and pays for them with net taxes |
A major distinction between government purchases and government transfer payments is that |
Government purchases divert resources from private uses to public uses while transfer payments do not |
The major sources of funds for the Federal government include the following except |
General sales tax |
The marginal tax rate is the |
Increase in taxes as a percentage of an increase in income |
Which of the following is the largest expenditure items of state governments |
Education |
Which is the most important source of tax revenue for local government |
Property taxes |
The benefits-received principle of taxation is |
The basis for the gasoline tax |
Which of the following taxes is most likely to be regressive |
General sales tax |
Other tunes being equal, the burden of a sales tax on a product will be borne entirely by the producer if |
Demand is perfectly elastic |