Examlex
For each of the following items, insert the best term or phrase. An answer choice may be used more than once, but only one choice is the best for each descriptive phrase.
-A trust that is required to distribute annual accounting income.
State and Local Governments
State and local governments refer to the administrative bodies governing regions below the national level, responsible for local laws, education, transportation, and more.
Federal Mandate
A requirement or order from the federal government that state or local governments, or private parties must follow, often with accompanying funds.
Income Taxes
Taxes levied by governments on individuals or businesses based on their net income or profit.
Consumer Surplus
The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount they actually pay.
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