The Benefits of a Flat Tax Include All of the Following

question 49

Multiple Choice

The benefits of a flat tax include all of the following except

• A)Elimination of exemptions for children.
• B)Simplicity.
• C)Only one tax bracket.

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Definitions:

Price Level

The standard price level of the wide variety of goods and services in the economy.

Real Income

The income of an individual or group after taking into consideration the effects of inflation on purchasing power.

Money Income

The total earned income in monetary terms by an individual or household, including wages, salaries, bonuses, and other financial gains.

Price Index

A measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care, over time.