At the federal level, the single most important tax, accounting for slightly less than half of revenue, is the

Which of the following contributed most to the large increases in poverty since 1960?

a. increases in air pollution and other externalities b. federal government budget deficits c. the increase in the number of elderly individuals d. rising poverty rates among households headed by females e. the increase in the number of households headed by females

Ward Planter exclusively grew soybeans in each of the past three years and currently participates in the marketing loan program of the Food, Conservation, and Energy Act of 2008. If the "crop price" of soybeans at harvest is less than the pre-harvest

"loan price," Planter can: A. sell his crop in the market and receive the difference between the crop price and loan price as a direct payment from the federal government. B. take a "crop credit" based on the difference between the crop price and the loan price and use the credit to reduce federal income taxes owed. C. receive an "emergency loan" that can be paid back over the following five years. D. forfeit the harvest to the lender and be free of the loan, thus receiving a subsidy because the proceeds from the loan exceed the revenues from the sale of the crop in the market.