Which Statement Is True

question 217

Multiple Choice

Which statement is true?

• A)The federal,state,and local governments collect a combined total of over 40 percent of our GDP in the form of taxes.
• B)A rich person has a much lower marginal tax rate on their personal income taxes today than she did in 1980.
• C)The federal government spends more on foreign aid than it does on Medicare.
• D)Most Americans pay more in federal personal income tax than they do in payroll tax.

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Definitions:

Relevant Costs

Costs that will be affected by a decision and hence should be considered in the decision-making process.

Milling Machine Constraint

A limitation or bottleneck in the production process caused by the capacity or capability of the milling machine.

Productive Capacity

The maximum output level that a company can sustain to produce in a given period under normal circumstances.

Mixing Machines

Equipment used in various industries to blend or mix ingredients into a homogenous substance.