Answer the following statement true (T) or false (F)

1) “Tax Freedom Day” in the United States typically occurs in mid-July.
2) Government assumes some responsibility for providing a minimum standard of living for all
citizens to compensate for the increase in income inequality caused by government tax
revenues and expenditures.
3) The largest source of local government’s revenue is the sales tax.
4) The basic source of state government’s revenue is the property tax.