The Largest Source of Federal Revenue Is

question 15

Multiple Choice

The largest source of federal revenue is

• A) excise taxes.
• B) individual income taxes.
• C) payroll taxes.
• D) corporate income taxes.
• E) customs duties.

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Definitions:

Halo Effect

A cognitive bias where the perception of one positive trait leads to the assumption of other positive traits in an individual.

Upward Counterfactual

Thinking about how a situation could have turned out better, often leading to feelings of regret.

Magical Thinking

Believing that one’s thoughts, wishes, or desires can influence the physical world or that events are connected in ways that defy scientific principles.

Counterfactual

Thinking that involves imagining alternative scenarios and outcomes that might have happened, but did not.