Well founded in some instances and not well founded

Info icon This preview shows pages 3–7. Sign up to view the full content.

View Full Document Right Arrow Icon
Well-founded in some instances and not well-founded in some instances Question 8 3 out of 3 points Since 2004, the highest personal income tax bracket has been Answer Selected Answer: 35% Correct Answer: 35% Question 9
Image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
3 out of 3 points Proportional tax rates mean that the ratio of tax collection to income Answer Selected Answer: Remains the same as income rises Correct Answer: Remains the same as income rises Question 10 3 out of 3 points The highest effective federal tax rate in the United States falls on which income category? Answer Selected Answer: The top 1% Correct Answer: The top 1% Question 11 3 out of 3 points Total government expenditures represent approximately what fraction of GDP? Answer Selected Answer: One-third
Image of page 4
Correct Answer: One-third Question 12 3 out of 3 points A cash payment from the government to an individual, based on need, is an example of a Answer Selected Answer: Transfer payment Correct Answer: Transfer payment Question 13 0 out of 3 points The single most important source of tax revenue for the local governments in the United States is the Answer Selected Answer: Personal income tax Correct Answer: Real property tax Question 14 0 out of 3 points The Economic Growth and Taxpayer Relief
Image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Reconciliation Act passed by Congress and signed by President George W. Bush did which of the following? Answer Selected Answer: Immediately cut federal tax rates by one-third Correct Answer: Gave a $300 check to each taxpayer Question 15 0 out of 3 points Tax equity means that Answer Selected Answer: All people should pay equal taxes Correct Answer: People in the same economic circumstances should pay equal taxes, and
Image of page 6
Image of page 7
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern