Federal Revenues This Is a Stacked Graph in Which the Difference Between

question 43

Multiple Choice

Federal Revenues
This is a stacked graph in which the difference between the lines indicates the revenues
raised by each tax. Source: Budget of the United States Government,Fiscal Year 2017: Historical Tables (Washington,D.C.: U.S.
Government Printing Office,2016) ,Table 2.1.
-Income taxes are a major source of revenue for the U.S.government despite the fact that 43 percent of people filing income tax returns in 2013 paid no income tax at all because the income tax is __________.

• A)regressive -Consider This: If the income tax was regressive,poor individuals would actually carry a greater burden than those with higher incomes.
• B)progressive
• C)proportional
• D)flat

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Definitions:

Differentiated Products

Goods or services that are distinguished from similar products based on quality, brand, design, or features, leading to non-price competition among firms.

Advertising

A marketing strategy involving the public promotion of products, services, or brands through various media channels to attract consumer interest.

Waste Of Resources

The inefficient, ineffective, or unnecessary use of resources resulting in the loss of potential benefits.

Rational Consumers

Individuals who aim to maximize their utility or satisfaction based on their preferences and information when making consumption choices.