A VAT (Value Added Tax)

question 45

Multiple Choice

A VAT (value added tax) :

• A)Is regressive in its effect.
• B)Has not proved popular outside of the United States.
• C)Is not a tax on consumption.
• D)Is used exclusively by third world (less developed) countries.
• E)None of these.

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Definitions:

Laid Off

The termination of employment due to business reasons unrelated to personal performance, such as downsizing.

Discouraged

A feeling of losing confidence or enthusiasm for something.

Hopeless

A state of despair in which an individual perceives their situation as bleak or insurmountable, lacking optimism or solutions.

Role Model

An individual admired for their qualities or achievements and considered as an example to emulate.