The most important source of state tax revenue is ? The most important source of

Question

The most important source of state tax revenue is ? The most important source of state tax revenue is ? The most important source of state tax revenue is ? Given the following information, calculate NDP: GDP-$5 trillion and depreciation-$500 billion. Instructions: Round your answer to one decimal place. NDP. $ trillion References eBook & Resources Learning Objective 09-04 Distinguish between gross domestic product and net Worksheet mestic product Section: How GDP Is Measured Learning Objective: 09-02 Explain how GDP is measured. AECN 111 Sylabus.. docxA PTChap009.ppt ECN 111 Practice...docx Type here to search

Explanation / Answer

Ans/

1) Most important source of tax revenue is sales and gross receipts taxes.Other types of taxes that state goverenment relies on is personal income tax .Local goverenment main source of revenue is from property tax.However for state sales taxes include general sales tax and selective sales tax. General sales tax is taxes on all types of goods and services with some exemptions whereas selective sales tax include taxes on alcoholic beverages , amusements, public utilities and tobacco products.

2) NDP( net domestic product ) = GDP - depriciation

NDP = 5 trillion - 100 billion

NDP = 4.8 trillion

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