Which type of living expense describes the money paid to federal, state, or local governments each year?

A. Insurance
B. Taxes
C. Utilities
D. Mortgage

Question

08-08-2024
Business

Answered

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Which type of living expense describes the money paid to federal, state, or local governments each year?

A. Insurance
B. Taxes
C. Utilities
D. Mortgage

Sagot :

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GinnyAnsweridn GinnyAnsweridn · Answer 1 · 2024-08-08T10:31:42-04:00

Final answer:

Taxes are payments made to governments as living expenses, including payroll and property taxes.

Explanation:

Taxes represent the money paid to federal, state, or local governments each year as a type of living expense. These payments include payroll taxes on salaries for Social Security and Medicare and property taxes on the value of real estate, which contribute to government revenue and funding for various programs and services.

Learn more about Taxes and Government Revenue here:

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Sagot :

Final answer:

Explanation:

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