1) Which of the following is the most important source of revenue for the federal budget? Question 1 options: A) The corporate income tax. B)Sales tax. C)Social Security and unemployment taxes. D)The federal personal income tax. 2)Suppose that a state government implements a tax on mechanics' labor time at all state auto repair shops in order to enhance its tax revenues. One year later the government is disappointed to find that not only is the amount of tax collected small, but that in-state auto repair work significantly declined. This state government apparently utilized which type of tax analysis? A) Linear projection tax analysis. B) Speculative tax analysis. C) Static tax analysis. D) Dynamic tax analysis. 3)Which of the following is NOT a source of funding available to governments? A) User charges B) Stock sales C) Taxes D) Borrowing 4)Which of the following taxes provides the Federal Government with the greatest revenue? A) Excise Taxes. B) Corporate Income Tax C) Individual Income Tax D) Social Insurance taxes and contributions 5) A proportional tax, or flat- rate tax: A) Takes the same percentage of a person's taxable income in tax regardless of their level of Income. B) Takes a greater percentage of a person's taxable income in tax as their income rises. C) Takes a lesser percentage of a person's taxable income in tax as their income rises. D) Takes a greater percentage of a person's taxable income in tax as their income falls. 6) Which of the following taxes will State and Local governments use to raise the majority of their revenue? A) Licences and permit taxes B) Sales tax, excise tax, and gross receipts taxes C) Personal and Corporate Income taxes D) Property taxes 7) The fact that every dollar that the government spends or transfers must ultimately be provided by the taxes and user charges it collects plus government borrowing is known as the Question 10 options: A) government balance sheet constraint. B) government budget constraint. C) tax collection constraint D) user charge constraint.