Over the Long Run, a Government's Fundamental Source of Revenues

question 172

Multiple Choice

Over the long run, a government's fundamental source of revenues is

• A) printing money.
• B) user fees and taxes.
• C) exports.
• D) gold sales.

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Definitions:

Utility Maximization

Utility maximization is a principle in economics that suggests consumers aim to get the greatest satisfaction possible from their disposable income, choosing the mix of goods and services that maximizes their utility.

Px

Often used as a notation for the price of a good x in economic models.

Satisfaction with Life

An individual's cognitive judgment of one's life as a whole, often assessed through surveys and questionnaires.

Income Classes

Categories of individuals or households separated by levels of income used for analysis and policy-making in economics and sociology.