Which of the Following Statements Is Not Correct

question 128

Multiple Choice

Which of the following statements is not correct?

• A)All states have state income taxes, but the percentages vary widely.
• B)Sales taxes and property taxes are important revenue sources for state and local governments.
• C)Medicare spending has increased because the percentage of the population that is elderly has increased, as has the cost of health care compared to cost of other goods and services.
• D)A budget deficit occurs when government spending exceeds government receipts.

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Definitions:

Suppliers

Businesses or individuals that provide goods or services to another business, often as part of a supply chain.