During the Quarter of a Century Prior to 2000, Between

question 211

Multiple Choice

During the quarter of a century prior to 2000, between 66 percent and 71 percent of Americans age 18 and older paid personal income taxes. What happened to the share of adult Americans with a personal income tax liability between 2000 and 2013?

• A) It rose to nearly 90 percent.
• B) It rose to approximately 80 percent.
• C) It was virtually constant at approximately 70 percent.
• D) It fell to approximately 55 percent.

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Definitions:

Consumer Surplus

The difference between what consumers are willing to pay for a good or service relative to its market price.

Units

A standard measurement for quantity used to quantify material amount or the extent of something.

Good

A physical item that is produced and can be sold or traded to satisfy people's wants or needs.

Service

An intangible activity or benefit provided to satisfy the needs of a consumer or business.