Question

HELP PLEASE ASAP!!!

1. Several counties in Georgia and Florida are devastated by a terrible flood. Funds to help the areas recover will most likely come from

State property taxes
Federal income taxes
Funds for farm subsidies
County tobacco sales taxes

2. A company released a new video game system just in time for Christmas and many stores quickly sold out. Although the price of the system was only $350, they sold for over $2,000 on an online auction site. Which of the following economic principles best explains this event?

People respond to incentives because of self-interest.
The value of some objects increases relative to other objects.
The price of all goods will rise over time.
Competition among consumers increases prices.

Answer 1

Federal income taxes is the answer for the first one, the answer to the second question is D

Answer 2

Answer: 1.- the correct answer is Federal income taxes and 2.-Competition among consumers increases prices.

Explanation: Federal Income taxes are used to cover extraordinary expenses and competition among consumers makes prices go up.