Choose the Word or Phrase in [ ] Which Will

question 57

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-The major source of revenue for the federal government is [income | estate] taxes.

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Definitions:

Economizing Behavior

The process of seeking to achieve maximum utility for minimal expenditure, or making decisions that reflect an optimal allocation of resources.

Satisfaction

The feeling of pleasure or fulfillment that comes from meeting needs, desires, or expectations.

Least Cost

A principle or method aimed at minimizing the cost of achieving a specific production or economic objective.

Marginal Cost

The expense incurred from the manufacture of an additional single unit of a product or service.