Which of the Following Accounts for the Largest Source of Revenue

question 30

Multiple Choice

Which of the following accounts for the largest source of revenue for the federal government?

• A)sales tax
• B)federal property tax
• C)personal income tax
• D)corporate income tax
• E)borrowing

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Definitions:

Input

The resources, materials, or data put into a system, process, or machine to obtain a desired output.

Output

The amount of something produced by a person, machine, or industry.

Function

A mathematical relation in which each element of a domain is associated with exactly one element of a range.

Production Function

An equation or graph that represents the maximum output that can be produced with a given set of inputs, showing the relationship between input and output levels in the production process.