Own-Source Revenue Is Money That Is Gathered from

question 41

Multiple Choice

Own-source revenue is money that is gathered from

• A)intergovernmental transfers of money.
• B)income taxes.
• C)taxes and fees collected from people, services, and products within the jurisdiction of each level of government.
• D)grants-in-aid from the federal government.

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Definitions:

Bureau of Labor Statistics

A U.S. government agency that collects, processes, analyzes, and disseminates essential statistical data on labor market activity, working conditions, and price changes in the economy.

Demand-Pull Inflation

Inflation caused primarily by an increase in aggregate demand: too many dollars chasing too few goods.

Wage-Price Spiral

A situation where rising wages lead to higher prices, which in turn lead to demands for even higher wages, creating a cycle of inflation.

Joseph Schumpeter

An economist known for his theories on economic development and creative destruction.