The Tax That Generates the Greatest Proportion of Government Revenue

question 52

Multiple Choice

The tax that generates the greatest proportion of government revenue in Canada is

• A)the income tax.
• B)the provincial sales tax.
• C)the payroll tax.
• D)the property tax.
• E)the goods and services tax.

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Definitions:

Imported

Refers to goods or services brought into one country from another for sale or use.

Ceteris Paribus

A Latin term meaning "all other things being equal," used in economics to analyze the effect of one variable on another while holding all other factors constant.

Demand Curve

It represents the relationship between the price of a good or service and the quantity demanded by consumers over a certain period of time.

Quantity Demanded

Refers to the total amount of a good or service that consumers are willing and able to purchase at a specific price.