The Largest Source of Revenue for the Federal Government of Canada

question 16

Multiple Choice

The largest source of revenue for the federal government of Canada

• A)tariffs collected on imported goods.
• B)property taxes imposed on private property.
• C)sales taxes on items purchased for consumption.
• D)individual income taxes.

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Definitions:

Social Regulation

Laws and regulations aimed at improving health, safety, and well-being in society, often implemented to correct market failures affecting the public interest.

Marginal Benefit

The additional satisfaction or value a consumer gains from consuming one more unit of a good or service.

Marginal Cost

The increase in cost that arises from an additional unit of production.

Sherman Act

A landmark federal statute in the field of United States antitrust law passed in 1890 that prohibits certain business activities that reduce competition in the marketplace.