The Largest Single Source of Revenue for the Federal Government

question 143

Multiple Choice

The largest single source of revenue for the federal government is

• A)Excise taxes.
• B)Corporate income taxes.
• C)Social Security payroll taxes.
• D)Personal income taxes.

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Definitions:

Four-Firm Concentration Ratio

A measure that indicates the total market share held by the largest four firms in an industry, used to assess the level of competition.

Product Differentiation

Product differentiation is the process of distinguishing a product or service from similar offerings in the market to make it more attractive to a particular target market.

Market Power

The ability of a firm or group of firms to control prices or output in a market, often leading to reduced competition.