In the Mid-Eighteenth Century, the Revenues That Governments Relied on Came

question 48

Multiple Choice

In the mid-eighteenth century, the revenues that governments relied on came mostly from

• A)a flat tax.
• B)an income tax.
• C)tariffs and duties.
• D)seizing the property of wealthy traitors.

---

Definitions:

Net Present Value

A calculation that compares the value of a dollar today to the value of that same dollar in the future, taking inflation and returns into account.

Present Value Factor

A factor used to calculate the present value of a future amount of money or stream of cash flows given a specific rate of return.

Straight-Line Depreciation

A process of dividing the expense of a substantial asset into identical annual portions over its useful duration.

Net Income

The net income of a firm after deducting all expenses and taxes from its gross revenue.