Which of the Following Statements Is True

question 23

Multiple Choice

Which of the following statements is true?

• A)The federal government raises roughly as much revenue from taxation as all state and local governments combined.
• B)The federal government raises significantly more tax revenue than all state and local governments combined.
• C)State and local governments combined raise twice as much revenue from taxation as the federal government.
• D)State and local governments combined raise three times as much revenue from taxation as the federal government.
• E)State and local governments combined raise six times as much revenue as the federal government.

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Definitions:

State Debts

The financial obligations incurred by the governments of individual states, often as a result of borrowing to fund public projects and services.

Speculators

Individuals or entities that invest in markets primarily to profit from fluctuations in asset prices, rather than from the intrinsic value or income of the assets.

Face Value

The nominal value or stated value of a financial instrument or currency, as printed or inscribed on it.

Bank of the United States

A historical financial institution chartered by the U.S. Congress, pivotal in establishing the nation's early fiscal policy and bank infrastructure, with two iterations in the late 18th and early 19th centuries.