In general, the largest sources of revenue for state and local governments come from:
a. Sales taxes and property taxes
b. Sales taxes and corporate taxes
c. Property taxes and individual income taxes
d. Individual income taxes and sales taxes
a
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Your roommate is having trouble grasping how monetary policy works. Which of the following explanations could you use to correctly describe the mechanism by which the Fed can affect the economy through monetary policy? Increasing the money supply
A) lowers the interest rate, raises the value of the dollar, lowers the prices of exports, and raises net exports. B) raises the interest rate and consumers decrease spending on durable goods. C) causes people to spend more because they know prices will rise in the future. D) lowers the interest rate, and firms increase investment spending.
The lower portion of the circular flow model contains factor markets in which households receive:
A. output of all final goods and services produced. B. savings, spending, and investment. C. goods and services. D. wages, rents, interest, and profits.