Which of the Following Is True About the Percent of Total

question 74

Multiple Choice

Which of the following is true about the percent of total income all levels of government in the U.S.take as taxes?

• A)In 1902 the government collected about 7 percent of total income.In recent years,it collected about 30 percent of total income.
• B)In 1902 the government collected about 30 percent of total income.In recent years,it collected about 7 percent of total income.
• C)In 1902 the government collected about 7 percent of total income.In recent years,it collected about 7 percent of total income.
• D)In 1902 the government collected about 30 percent of total income.In recent years,it collected about 30 percent of total income.

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Definitions:

Net Investment

The total amount spent on new capital assets, minus depreciation, indicating the actual increase in physical capital.

Incremental Basis

An approach that evaluates the additional benefits and costs of a decision by comparing the financial outcomes with or without the decision.

Pretax Basis

Financial calculations or comparisons made before deducting income tax expenses, providing a raw snapshot of performance or position.

Direct Effects

Immediate impacts or outcomes resulting from a specific action or event.