Part of the Increase in Currency Holdings in the 1960s

question 72

Multiple Choice

Part of the increase in currency holdings in the 1960s and 1970s can be attributed to

• A)increases in income tax rates.
• B)the switch from progressive to proportional income taxes.
• C)the adoption of regressive taxes.
• D)bracket creep due to inflation and progressive income taxes.

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Definitions:

Fundamental Attribution Error

The tendency to overemphasize personal characteristics and ignore situational factors in judging others' behavior.

Self-Serving Bias

A common tendency for individuals to attribute positive outcomes to their own actions and negative outcomes to external factors.

Consensus

A general agreement among a group of people, often achieved through discussion and compromise.

Distinctiveness

The quality or state of being notably different or unique in comparison to others, allowing for recognizable differentiation.