Public Finance Test 1 Review Questions with 100% Verified Correct Answers 2025/2026

Public Finance Test 1 Review Questions with 100% Verified Correct Answers 2025/2026 Public finance A) is not like public economics. B) develops principles for understanding the economic role of government. C) only works for local and state governments. D) is all of the above - Correct Answer B) develops principles for understanding the economic role of government. A regulatory budget would A) provide an accounting of government regulation. B) be difficult to compute. C) have to be attempted unofficially. D) be all of the above - Correct Answer D) be all of the above The federal government A) is the largest taxing entity in the country. B) is only concerned with international issues. C) spends heavily on net interest. D) is all of the above. - Correct Answer A) is the largest taxing entity in the country. State and local governments receive the largest amount of revenue from: A) personal income taxes. B) property taxes. C) sales taxes