What are the two largest sources of tax revenues for the U.S. federal government?
What will be an ideal response?
The largest source of tax revenue for the U.S. federal government is personal income taxes, that is, the income taxes that individuals pay. The second largest source of revenue is Social Security taxes. Personal income taxes account for about 41 percent of the federal government's revenue and Social Security taxes account for about 40 percent, so together these two sources of revenue are 81 percent of the federal government's total tax revenues.
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When potential GDP increases, is it necessarily the case that real GDP increases as well? Explain
What will be an ideal response?
A player can choose among three strategies: T, M, and B. Nevertheless, strategy B is dominated by strategy T. This means that
A) strategy T is always played. B) strategy B is never played. C) strategy B will be part of a Nash equilibrium. D) strategy M is never played.