As of 2007,the Largest Source of Receipts for State and Local

question 382

True/False

As of 2007,the largest source of receipts for state and local governments was individual income taxes.

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Definitions:

Yuan

The currency unit of the People's Republic of China, often used to denote the basic monetary unit.

Real Exchange Rate

The real exchange rate is an economic measure that compares the relative price of domestic goods to foreign goods, adjusted for currency exchange rates.

Net Exports

The net difference between a nation's total exports and its total imports, indicating the trade balance.

Net Capital Outflow

The difference between the domestic country's investment in foreign countries and the foreign investments in the domestic country.