Which of the Following Is NOT True Regarding Trends in State

question 6

Multiple Choice

Which of the following is NOT true regarding trends in state and local revenues?

• A) Federal revenues sent to the states play a larger role in state budgets than 50 years ago.
• B) States now collect about twice as much of their overall revenues from income taxes than 50 years ago.
• C) States have not been as reliant on fees and charges to fill out their revenue portfolios since the 1980s.
• D) A much smaller proportion of state revenue is now generated by selective sales taxes on gasoline.

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Definitions:

Marginal Product

Marginal product refers to the increase in output that results from employing one more unit of a particular input while keeping other inputs constant.

Power Cords

Electrical cables that connect an appliance, device, or equipment to the main electricity supply.

Third Worker

Refers to an additional laborer in a scenario, typically discussed in the context of marginal productivity or the law of diminishing returns.

Profit-Maximizing Quantity

The level of production at which a firm achieves the highest possible profit.