At the End of 2011, Most of the United States

question 4

Multiple Choice

At the end of 2011, most of the United States' foreign direct investment was in:

• A)the other NAFTA countries.
• B)the developing countries in Asia.
• C)the European Union countries.
• D)the Latin American countries.

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Definitions:

Tax Reform Act

refers to legislation aimed at modifying the tax system. One well-known example is the Tax Reform Act of 1986 in the United States, which simplified the income tax code, broadened the tax base, and eliminated many tax shelters.

Kemp-Roth Tax Cut

A significant federal tax cut in the United States passed in 1981, aiming to stimulate economic growth through reduced individual income tax rates.

Social Security Taxes

Taxes collected to fund the Social Security program, which provides retirement, disability, and survivorship benefits to qualifying individuals.

Tax Rate

The percentage at which an individual or corporation is taxed, which can vary based on income level, type of good, or transaction being taxed.