How are tax rates determined by each of the governing bodies in Texas?
a. City councils set the rates based on the population of the municipality.
b. It is a combination of city policy, the needs of the community, and the guidelines set by the Texas constitution.
c. Rates are determined according to the demand for the product or service.
d. The governor determines rates according to economic levels of citizens.
Answer: B
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According to Figure 14.5, under what circumstances should we expect to see budget surpluses?
a. when government spending is high b. when taxes are low c. when the economy is experiencing turbulence d. when the economy is thriving
In Washington, California, Oregon, Florida, Nevada, and Vermont, the state's minimum wage
a. is set at $8.25 and hour. b. is set according to the occupation. c. is indexed to the rate of inflation. d. is lower than the federal minimum wage.