Public education is funded primarily through corporate tax dollars
Indicate whether the statement is true or false.
[Ques. 2] Which of the following is the best definition of Marginal Utility?
a. A principle where consumers try to maximize their satisfaction through their income by purchasing goods and services.
b. An economic purchase that leaves the consumer dissatisfied.
c. A utility company that sells energy on margin calls.
d. A utility pole that almost ready to be replaced.
e. A principle that the more we have of something the more pleasure it brings.
[Ques. 3] Which of the following is not an indicator of a good tax?
a. Economic polarity
b. Adequacy of yield
c. Everyone pays something
d. Convenience of payment
e. Low administration costs
[Ques. 4] Which of the following would not be considered a sumptuary tax? A tax on
a. alcohol.
b. cigarettes.
c. marijuana (in states where it is legal).
d. gasoline.
e. fast food.
[Ques. 5] Which of the following is not true of the corporate income tax?
a. It was legislated nationally in 1809 as an excise tax for the privilege of doing corporate business.
b. It was first implemented at the state level in Wisconsin.
c. Corporate income tax revenue to the federal government is now at an all-time high.
d. Corporate income taxes may be viewed as increasing the final cost of goods to the end consumer.
e. Corporate taxes have been called double taxation.
[Ques. 6] Which of the following is not a type of tax?
a. Property Tax
b. Income Tax
c. Lotteries
d. Severance Tax
e. All are types of taxes
[Ques. 7] The income tax came into law
a. to pay for the Revolutionary War expenses.
b. to pay for the Civil War expenses.
c. to pay for the Spanish American War.
d. to pay for World War I expenses.
[Ques. 8] A regressive tax is best described as
a. when the poor pay a greater percentage than the wealthy.
b. most fair.
c. where everyone pays the same percentage.
d. Robin Hood taxation.
e. the wealthy pay a greater percentage than the poor.
[Ques. 9] A progressive tax is best described as
a. when the poor pay a greater percentage than the wealthy.
b. most fair.
c. where everyone pays the same percentage.
d. Robin Hood taxation.
e. the wealthy pay a greater percentage than the poor.
[Ques. 10] A proportional tax is best described as
a. when the poor pay a greater percentage than the wealthy.
b. most fair.
c. where everyone pays the same percentage.
d. Robin Hood taxation.
e. the wealthy pay a greater percentage than the poor.
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