Which of the following is not an administrative burden of our tax system?
a. government resources used to enforce tax laws
b. keeping tax records throughout the year
c. paying the taxes owed
d. time spent in April filling out forms
c
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Adjusted gross income is
A. any profit you have from asset sales. B. total income from all sources. C. income after deductions and exemptions are taken. D. the amount of income a taxpayer has after taxes are paid.
When a German company purchases a U.S. company for $20 million, in the balance of payments the value of that transaction is recorded in the
A) current account. B) investment account. C) official purchases account. D) capital and financial account. E) purchase account.
Based on the above table, if the current price level is 100 and the unemployment rate is 4 percent, then the
A) expected inflation rate is 8 percent. B) inflation rate is 2.8 percent. C) expected inflation rate is 2.8 percent. D) inflation rate is 8 percent. E) inflation rate is 108 percent.
The steps in the process of commercial bank lending in order are
A) borrower bank search, credit analysis, borrower-bank negotiation, bank funding. B) borrower bank search, borrower-bank negotiation, credit analysis, bank funding. C) credit analysis, borrower bank search, borrower-bank negotiation, bank funding. D) borrower-bank negotiation, borrower bank search, credit analysis, bank funding.