Which is not an effect of tax loopholes?
A. They encourage particular patterns of behavior.
B. They erode the progressivity of the income tax.
C. They favor particular groups of people.
D. They reduce excess tax burden.
Answer: D
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The cross elasticity of demand is
A) the percentage change in the demand of one good divided by the percentage change in price of another good. B) the change in the price of one good divided by the change of quantity demanded of another good. C) the percentage change in the quantity demanded of one good divided by the percentage change in the quantity demanded of another good. D) the percentage change in the price of one good divided by the percentage change in the price of another good.
If the output effect from increased production is larger than the price effect, then an oligopolist would increase production
a. True b. False Indicate whether the statement is true or false
The U.S. government incurred a national debt for the first time during
A. The Revolutionary War. B. Ronald Reagan's presidency. C. World War II. D. The Great Depression.
Which of the following situations would be inconsistent with the others?
A) A deficit in the current account B) gross national expenditure being greater than gross national disposable income C) Net lending to the rest of the world D) A surplus in the financial account and capital account