-In the Above Figure, If the Tax Rate Is Increased

question 395

Multiple Choice

-In the above figure, if the tax rate is increased from 20 percent to 30 percent, tax revenue

• A) increases.
• B) may increase or decrease.
• C) is constant.
• D) decreases.

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Definitions:

Skeins

Lengths or coils of yarn or thread as they are sold or produced, often used in textiles and knitting.

Spending Variance

This is the difference between the actual amount spent on a budget item and its planned or budgeted amount.

Wages And Salaries

Compensation paid to employees for their work or services.

Planning Budget

A financial plan that estimates the revenue and expenses for a specific period in the future.