Which of the Following Statements Is NOT True

question 33

Multiple Choice

Which of the following statements is NOT true?

• A)States making use of an income tax tend to have the most progressive revenue systems overall.
• B)Sales taxes collected by state governments tend to be more stable in times of economic downturns when compared to other taxes.
• C)Inflation can drive people who get "cost of living raises" into higher tax brackets even though their real earning power does not increase.
• D)Income taxes are relatively easy for governments to collect.

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Definitions:

Globalization

The process of interaction and integration among people, companies, and governments worldwide, often driven by international trade and investment and aided by information technology.

New Technologies

Latest advancements in technology that lead to improvements in processes, services, or products across various industries.

International Monetary Fund

The International Monetary Fund (IMF) is an international organization working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.

Lender of Last Resort

An institution, typically a country's central bank, that offers loans to banks or other financial institutions that are experiencing financial difficulty or are considered 'too big to fail'.