LE 101 Lecture 3: LE101 - Chapter 3: Classification of the Law
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Question 1
Public finance
is not like public economics | ||
is about the taxing and spending activities of government. | ||
only works for local and state governments. | ||
is all of the above. |
5 points
Question 2
The organic view of government refers to:
individuals and their goals are less important than the state. | ||
individuals and their wants are more important than the state. | ||
individuals and state are equally important. | ||
ethical considerations are most important. |
5 points
Question 3
The mechanic view of government refers to:
individuals and their goals are less important than the state. | ||
individuals and their wants are more important than the state. | ||
individuals and state are equally important. | ||
ethical considerations are most important. |
5 points
Question 4
State and local governments receive the largest amount of revenue from
sales taxes | ||
property taxes. | ||
payroll taxes. | ||
personal income taxes. |
5 points
Question 5
Education is
generally financed at the state and local level. | ||
too expensive for the federal government. | ||
generally financed at the federal level. | ||
financed on a voluntary basis. |
5 points
Question 6
The unified budget is
a budget that includes all nations. | ||
a document which itemizes all the federal governmentâs expenditures and revenues. | ||
a document that accounts for all spending by states. | ||
none of the above |
5 points
Question 7
The federal government gets most of its revenue from
sales taxes. | ||
payroll taxes. | ||
property taxes. | ||
personal income taxes. |
5 points
Question 8
The substitution effect
is when individuals consume more of one good and less of another. | ||
is associated with changes in relative prices. | ||
will have no effect if goods are unrelated. | ||
is all of the above. |
5 points
Question 9
The slope of a regression line is calculated by dividing
the intercept by the change in horizontal distance. | ||
the change in horizontal distance by the change in vertical distance. | ||
the change in horizontal distance by the intercept term. | ||
the change in vertical distance by the change in horizontal distance. |
5 points
Question 10
The function Y = f(X,Z) means
X multiplied by Y equals f. | ||
X + Y = Z | ||
Y is a function of both X and Z. | ||
none of the above. |