Expenditures occupies largest portion of the fiscal budget

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Reference no: EM131101356

1. Which of the following expenditures occupies the largest portion of the fiscal budget for state and local governments?

a. public assitance programs

b. infrastucture

c. city payrolls

d. education

2. Which of the following is the largest source of tax revenue in the U.S.?

a. social insurance taxes

b. corporate profits taxes

c. national sales taxes

d. value added taxes

c. individual income taxes

3. A new tax policy has been passed in the country of Caldeconnia, a constitutional monarchy located high up in the Stap Mountain Range. This new policy states that 6% of the wages of every worker must go to taxes, regardless of how much they earn. This tax is an example of a(n)...

a. corporate income tax

b. excise tax

c. progressive tax

d. proportional tax

Reference no: EM131101356

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