The major objective of the 1986 tax reform was to: (i) enhance efficiency by lowering marginal tax rates; (ii) enhance equity by closing "loopholes."
a. i and ii
b. i but not ii
c. ii but not i
d. neither i nor ii
a
Economics
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Refer to the above figure. The market clearing price is
A) $2. B) $6. C) $8. D) $10.
Economics
Assume that the government proposes a negative income tax that calculates the taxes owed as follows: taxes owed equal 30% of income less 12,000 . A family that earns an income of $60,000 will
a. pay $6,000 in taxes. b. receive an income subsidy of $6,000. c. receive an income subsidy of $12,000. d. have an after-tax income of $48,000.
Economics