12.3 Government Income

Multiple Choice

Which of the following is the primary revenue source for the government at all levels?

• Sales tax

• Excise tax

• Income tax

• Property tax

Multiple Choice

Which of the following is the most significant source of government income in the United States?

• Individual Taxes

• Corporate Taxes

• Property Taxes

• Consumption Taxes

Multiple Select

Which of the following are sources of revenue for both the federal government and state governments? Select 2 that apply.

• tariffs

• lease of land

• income taxes

• sales taxes

Multiple Choice

What is the main difference between treasury bonds and municipal bonds?

• Treasury bonds are issued by state governments, while municipal bonds are issued by the federal government.

• Treasury bonds are issued by the federal government, while municipal bonds are issued by state and local governments.

• Both are issued by private companies.

• Municipal bonds do not earn interest.

Multiple Choice

Which category was the largest source of state revenue during the period shown?

• taxes, penalties, and interest

• nontax revenue

• federal funds

• investments, loans, and other revenue