Which of the Following Is (Are) True? I

question 287

Multiple Choice

Which of the following is (are) true? I. One potential problem associated with attempting to cyclically balance the budget is that politicians often do not want to raise taxes or cut spending.
II) When attempting to cyclically balance the budget, politicians can depend on the fact that once policy makers predict the length and intensity of one cycle, it applies to all cycles.
III) One potential problem associated with attempting to cyclically balance the budget is that it requires policymakers to accurately predict the length and intensity of the cycle.

• A) I and II only
• B) I and III only
• C) II and III only
• D) I, II, and III.

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Definitions:

IFRS

A global set of accounting standards formulated by the International Accounting Standards Board (IASB), known as International Financial Reporting Standards.

Payroll Taxes

Charges levied on both employers and employees, typically determined based on a percentage of what employers pay to their workers as wages.

Federal Income

Income subject to federal income tax, which includes earnings from various sources such as wages, interest, dividends, and capital gains, among others.