The Efficiency of the Tax System Refers To

question 138

Multiple Choice

The efficiency of the tax system refers to:

• A)how much revenue the government can raise from taxation
• B)how many people are caught evading tax per year
• C)the costs it imposes on taxpayers
• D)the benefits taxpayers receive from their taxpayer-funded services

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Definitions:

Market Acceptance

The extent to which a new product or service is accepted and used by its target market and consumers.

Laggard

An individual or entity that is slow to adopt new technologies, ideas, or practices, often trailing behind the majority in terms of innovation adoption.

Rotary-dial Telephone

An early type of telephone using a rotating dial to input numbers, prevalent before the introduction of touch-tone dialing.

Late Majority

A group of consumers who adopt a new product or technology after the average member of society, showing skepticism towards new innovations.