Most loopholes in the income tax system
A. are more likely to be exploited by the wealthy.
B. make it more progressive.
C. were created by the tax reforms instituted in 1986.
D. do not affect the economic decisions of the people who benefit from them.
Answer: A
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Which of the following is an example of imports?
a. Sugar bought from a retail shop b. Steel bars sold to other countries c. Clothes bought from another country d. Apples bought from a farmer
What do economies of scale, the ownership of essential raw materials, and patents have in common?
A. They are all barriers to entry. B. They all help explain why the long-run average cost curve is U-shaped. C. They all help explain why a monopolist's demand and marginal revenue curves coincide. D. They must all be present before price discrimination can be practiced.