A tax loophole is
a. an illegal method by which individuals or corporations avoid paying the taxes they legally owe.
b. a provision in the tax code that allows individuals or corporations to reduce their tax burdens legally by meeting certain conditions.
c. a tax surcharge on incomes within certain ranges.
d. a provision in the tax code that allows individuals or corporations to shift the economic incidence of a particular tax on to someone else.
b
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If Target were to merge with Wal-Mart, this would be referred to as a(n)
A) horizontal merger. B) vertical merger. C) conglomerate merger. D) anti-competitive merger.
Which of the following is an example of a capital resource?
a. an unskilled worker b. a large coal deposit c. a fishing boat d. yellow-fin tuna
A firm may choose to raise price when
A. profits would increase at the higher price. B. MR > MC. C. average profit is zero. D. it relies on marginal analysis.
Contractionary fiscal policy is deliberate government action to influence aggregate demand and the level of real GDP through:
A. expanding and contracting the money supply. B. encouraging business to expand or contract investment. C. regulating net exports. D. decreasing government spending or increasing taxes.