Which of the Following Best Describes Ethics

question 2

Multiple Choice

Which of the following best describes Ethics?

• A) A form of the "golden rule."
• B) A branch of philosophy that uses reason to support positions.
• C) A body of beliefs about right and wrong handed down form one generation to the next.
• D) Behavior that is agreed upon to be moral by the majority.

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Definitions:

Horizontal Equity

The principle that individuals with the same income or resources should be treated equally by the tax system.

Tax Deductions

Expenses that can be subtracted from gross income to reduce the amount of income that is subject to income tax.

Double Taxation

A taxation principle where income taxes are paid twice on the same source of earned income, property, or financial asset.

Saving Rate

The proportion of disposable income that is saved rather than spent by households.