Figure 7-2 -Figure 7-2 Shows That Secondary Data May Be Divided into Divided

question 132

Multiple Choice

Figure 7-2
-Figure 7-2 shows that secondary data may be divided into two related parts. If B represents data collected from the U.S. Census Bureau, trade association studies, business periodicals, etc., which type of data is B?

• A) compiled data
• B) mined data
• C) internal secondary data
• D) external secondary data
• E) observational data

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Definitions:

Tax Cuts

Reductions in the amount of taxes imposed by a government on its citizens, often aimed at stimulating economic growth or achieving specific policy objectives.

Progressive Taxes

Taxation that takes a larger percentage of income from high-income earners than from low-income earners, aimed at reducing income inequality.

Ability-To-Pay Principle

The concept that taxes should be levied according to an individual's or entity's ability to bear them, typically resulting in higher earners paying more taxes.

Lump-Sum Taxes

Taxes that are a fixed amount, not dependent on the taxpayer's income or activities, thus they do not distort economic decisions.