The Empirical Evidence Suggests That a Modest Increase in Income

question 97

Multiple Choice

The empirical evidence suggests that a modest increase in income tax rates would

• A) result in at least a 10% reduction in hours worked.
• B) not seriously reduce the incentive to work.
• C) eliminate the current income inequality in Canada.
• D) actually reduce tax revenue.
• E) cause the wealthy to move to other countries.

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Definitions:

Energy Conservation

The practice of reducing the use of energy through more efficient systems, processes, or behaviors to preserve resources.

Small Businesses

Enterprises or firms that maintain a small number of employees, have comparatively lower volume of sales, and are usually independently owned and operated.

Founders

Individuals who establish an organization or company, often bringing an innovative idea into existence.

Willing To Take A Risk

The readiness to engage in actions that involve uncertainty or danger, typically in pursuit of a significant reward.