T-Bills Are Financial Instruments Initially Sold by ________ to Raise

question 84

Multiple Choice

T-bills are financial instruments initially sold by ________ to raise funds.

• A)commercial banks
• B)the U.S.government
• C)state and local governments
• D)agencies of the federal government
• E)B and D

---

Definitions:

Double Taxation

The levy of tax by two or more jurisdictions on the same declared income (in the case of income taxes), asset (in the case of capital taxes), or financial transaction (in the case of sales taxes).

Tax Base

The assessed value of all taxable income, property, assets, or other items that a government can tax.

Income Tax

A tax levied by governments on individuals or entities based on their income or profits.

Saving Rate

The portion of income that is not spent on consumption but rather saved or invested.