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In an experiment reported in your textbook, Peter Glick and his colleagues sent bogus résumés to business people. What was the major conclusion of their study?
Long Term Capital Gain
Profit earned from the sale of an asset held for more than a year, subjected to preferential tax rates.
Tax Bracket
A range of income subject to a particular tax rate under a progressive tax system, where higher income levels are taxed at higher rates.
Inheritance
Assets received from someone who has died, possibly subject to taxes depending on the value and the beneficiary's relationship to the deceased.
Holding Period
The length of time an investment is held by an investor, influencing tax treatment of gains or losses upon disposal.
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