The Largest Source of Government Revenues Is __________-

question 58

Multiple Choice

The largest source of government revenues is __________-.

• A) personal income taxes
• B) social security taxes
• C) indirect taxes
• D) corporate income taxes

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Definitions:

Monopoly Power

The ability of a monopolist to significantly control market price and exclude competitors by owning a majority of the market share.

Demand Function

A mathematical relationship expressing the quantity of an item demanded at various prices.

Marginal Costs

The amount spent to produce a further unit of a good or service.

Deadweight Loss

A loss of economic efficiency that can occur when equilibrium for a good or service is not achieved or is not achievable.