Which of the Following Statements Is Most Correct

question 39

Multiple Choice

Which of the following statements is most correct?

• A)Personal consumption expenditures of $10.1 trillion in 2009 accounted for about 71 percent of GDP; this percentage relationship has been very stable throughout the decade of the 2000s.
• B)Personal consumption expenditures of $1.1 trillion in 2009 accounted for about 11 percent of GDP; this percentage relationship has been very stable throughout the decade of the 2000s.
• C)Personal consumption expenditures of $10.1 trillion in 2009 accounted for about 11 percent of GDP; this percentage relationship has been very unstable throughout the decade of the 2000s.
• D)Personal consumption expenditures of $1.1 trillion in 2009 accounted for about 71 percent of GDP; this percentage relationship has been very unstable throughout the decade of the 2000s.
• E)none of the above.

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Definitions:

Federal Personal Income Tax

A tax levied by the federal government on the annual income of individuals.

Federal Tax Revenue

The financial income generated by the government through taxation, which includes individual income taxes, corporate taxes, and other taxes.

Individual Income Taxes

Taxes levied by a government on the income earned by individuals or households within their jurisdiction.

Sales Tax

A tax imposed on sales of goods and services, typically collected by the seller and passed on to the government.