Individual Income Tax Is the ________ Single Component of Federal

question 23

Multiple Choice

Individual income tax is the ________ single component of federal revenue.

• A) largest
• B) second largest
• C) smallest
• D) least important

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Definitions:

Choices

Decisions made by individuals or organizations among two or more alternatives.

Rational Government

The concept of a government acting based on reasoned decisions, typically aiming for the most economically efficient outcomes that maximize social welfare.

Satisfy Unlimited Wants

The economic principle that refers to the constant desire for goods and services exceeding the limited resources available to fulfill those desires.

Human Skills

The capabilities and expertise individuals possess that enable them to perform tasks, solve problems, and produce goods or offer services.