As a Result of Wartime Revenue Acts, ____________________

question 15

Multiple Choice

As a result of wartime revenue acts, ____________________.

• A) the government was able to fund the war fully through increased taxes
• B) corporations paid more in taxes than did individual workers
• C) rises in the real income of Americans declined due to tax increases
• D) the number of Americans paying income tax increased significantly

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Definitions:

Borrower

An individual, company, or institution that receives funds from a lender under the condition of paying back the borrowed amount plus interest.

Compounded Monthly

Interest calculated monthly on the principal sum plus previously earned interest.

Equal Payments

Regularly scheduled payments of the same amount, common in loans and amortization plans.

Compounded Annually

Interest that is calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or loan, done once a year.