Income taxes paid by corporations are
A) the major source of revenue for the federal government.
B) the major source of revenue for state governments.
C) the major source of revenue for local governments.
D) about 9 percent of the federal government's revenue.
E) the major source of expenditure by the federal government.
D
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Technological efficiency is
A) a necessary and sufficient condition for profit maximization. B) a sufficient but not necessary condition for profit maximization. C) a necessary but not sufficient condition for profit maximization. D) a theoretical construct with little connection to the real world.
The largest proportion of the U.S. public debt is held by
A. the Federal Reserve System. B. the U.S. public (individuals, businesses, financial institutions, and government). C. U.S. government agencies. D. foreign individuals and institutions.