Directions: As you read through the senior below, please identify all sources of revenue for the local government. Please highlight/underline the phrase in the word and then identify the specific revenue source in the margin or above/below the phrase (eg. property tax, ad valorem, sales tax, and fees). A Day In the Life of the Adams Family Let's walk through this active day for the Adams Family! They all wake up, brush their teeth and take showers in the home they have owned for the past five years. After getting dressed for the day, they decide to take care of some major family business first. Since their family vehicle had been breaking down for some time, they head out to a local car dealership to purchase a new one. They get a great deal on the vehicle and complete all of the paperwork for a successful transaction. After they leave the dealership in their new car, they decide to enjoy a picnic outside since it is such a lovely day outside. They go to the local grocery store to pick up all they will need for the picnic. Then they venture out to a state park to experience the amazing views while they enjoy their lunch. They have to pay a $3 parking fee once they arrive. After taking in fresh air at the park, they decide to retreat back to their home to get some rest for the day.
Directions: As you read through the senior below, please identify all sources of revenue for the local government. Please highlight/underline the phrase in the word and then identify the specific revenue source in the margin or above/below the phrase (eg. property tax, ad valorem, sales tax, and fees). A Day In the Life of the Adams Family Let's walk through this active day for the Adams Family! They all wake up, brush their teeth and take showers in the home they have owned for the past five years. After getting dressed for the day, they decide to take care of some major family business first. Since their family vehicle had been breaking down for some time, they head out to a local car dealership to purchase a new one. They get a great deal on the vehicle and complete all of the paperwork for a successful transaction. After they leave the dealership in their new car, they decide to enjoy a picnic outside since it is such a lovely day outside. They go to the local grocery store to pick up all they will need for the picnic. Then they venture out to a state park to experience the amazing views while they enjoy their lunch. They have to pay a $3 parking fee once they arrive. After taking in fresh air at the park, they decide to retreat back to their home to get some rest for the day.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:**Directions:** As you read through the scenario below, please identify all sources of revenue for the local government. Please highlight/underline the phrase in the word and then identify the specific revenue source in the margin or above/below the phrase (e.g., property tax, ad valorem, sales tax, and fees).
**A Day In the Life of the Adams Family**
Let's walk through this active day for the Adams Family!
They all wake up, brush their teeth, and take showers in the home they have owned for the past five years. After getting dressed for the day, they decide to take care of some major family business first. Since their family vehicle had been breaking down for some time, they head out to a local car dealership to purchase a new one. They get a great deal on the vehicle and complete all of the paperwork for a successful transaction.
After they leave the dealership in their new car, they decide to enjoy a picnic outside since it is such a lovely day. They go to the local grocery store to pick up all they will need for the picnic. Then they venture out to a state park to experience the amazing views while they enjoy their lunch. They have to pay a $3 parking fee once they arrive.
After taking in fresh air at the park, they decide to retreat back to their home to get some rest for the day.
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