Ask Question, Ask an Expert


Ask Business Economics Expert

MCQs on tax system.

1) The federal income tax is a good ex of a

1. regressive tax.

2. proportional tax.

3. digressive tax.

4. progressive tax.

2) The federal income tax began in the United States with the

1. Morrill Act of 1862

2. addition of the Bill of Rights to the Constitution in 1791

3. passage of the 16th Amendment to the Constitution in 1913

4. New Deal legislation of the 1930s.

3) The largest single category of expenditures in the federal budget is traditionally

1. national defence

2. interest on the national debt.

3. health and public housing programs.

4. pensions and income security programs.

4) An excise tax

1. is a sales tax on the purchase of a particular good or service

2. is a tax on the profits earned from the sale of an asset.

3. represents a surcharge on corporate profits beyond the normal corporate tax rate

4. is a tax on income-earning rental property.

5) The money for Social Security payments to current retirees comes from

1. payroll taxes collected from those retirees when they were working

2. income taxes collected from the current working population.

3. payroll taxes collected from the current working population.

4. only the interest earned now by the government on the invested Social Security trust fund

6) The method of financing the Social Security system until 1983 is best Discussd as

1. Trust fund

2. excise tax.

3. indirect tax.

4. "Pay as you go."

7) Which factor of production receives the greatest share of the U.S. national income?

1. land

2. labour

3. capital

4. entrepreneurship

8) The distribution of income in a market economy is determined by

1. the level of employment and prices of the factors of production.

2. the prices of factors of production.

3. largely unknown forces which economists seek to discover.

4. decisions of government offices related to distribution.

9) The demand for labour is derived from the

1. demand for leisure.

2. supply of labour.

3. Demand for final-output goods.

4. supply of final-output goods.

10) The substitution effect of a wage increase

1. probably leads most workers to want to work more

2. Certainly leads all workers to want to work more

3. probably leads most workers to want to work less.

4. certainly leads most companies to want to employ more workers.

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M917204

Have any Question? 

Related Questions in Business Economics

1what is the production possibilities curve and how is it

1. What is the production possibilities curve and how is it useful? 2. What 4 factors contribute to determining any point in this model? 3. How would we apply this framework to the real world? 4. You are planning to expa ...

Assignmentyou must submit 2 files to this link once done as

Assignment You must submit 2 files to this link once done as follows: Part 1) An MS Excel spreadsheet (.xls or .xlsx no other file formats will be accepted) use the dataset spreadsheet provided for the assignment and inc ...

1 there is a small country whose domestic demand and supply

1) There is a small country whose domestic demand and supply for a good x are given below (where P is the price of X) [drawing a demand and supply graph may be helpful to you, but is not required.] D: P=100-Q S: P=10+2Q ...

Free trade and restricted trade - benefits and cost1-2

Free Trade and Restricted Trade - Benefits and Cost 1-2 paragraphs APA format/ no plagarism Using your own words, define both free and restricted trade. What do you feel are the benefits and the cost to having free trade ...

Chapter 1 managing changeq1 figure 176 shows how bad an

Chapter 1 Managing change Q1 Figure 1.76 shows how bad an implementation can become. Action needs to be taken to prevent this kind of situation. What would you recommend should be done? Q2 You are the project manager for ...

In the united states as in most countries we value the

In the United States, as in most countries, we value the benefits of a free and competitive market. This suggests an interesting question: what if there were to be no Antitrust laws or other regulations on business activ ...

Assignmentpart idirections please write a paper that is at

Assignment PART I Directions: Please write a paper that is at least two to three pages in length in which you address the questions below. Write your paper in APA format with at least one cited scholarly reference. Revie ...

Cite the sources used to answer this question provide the

Cite the source(s) used to answer this question. Provide the source(s) below your response and apply APA guidelines for references. 1) Class, is it possible for a business to show an accounting profit, but actually earn ...

Assignmentinstructions1 select an illegal activity and

Assignment Instructions 1. Select an illegal activity and transform/mask its' true purpose with the disguise of a legitimate business operation. In other words, create a start-up business that would be viewed as a legal ...

What is the relationship between economy business and

What is the relationship between economy, business, and society? -6 page essay (includes only ONE page for references,but the cover page is not included in the 6 page requirement) -Double spaced -APA format

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen