In 2014, the largest source of receipts for state and local governments was individual income taxes

a. True
b. False
Indicate whether the statement is true or false

False

Economics

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According to this Application, for approximately 12 million homeowners in 2012, the amount owed on mortgages was higher than the actual value of the homes. These homeowners used borrowed funds to purchase their homes, a practice known as

A) acceleration. B) securitization. C) leverage. D) liquidity.

Economics

The above table gives the government outlays and tax revenues from 2008 through 2012 for two countries. In 2011 country A had a ________ and country B had a ________

A) budget deficit; budget deficit B) balanced budget; budget surplus C) balanced budget; budget deficit D) budget surplus; budget surplus E) budget surplus; balanced budget

Economics