The Fact That the Tax Code in the United States

question 40

Multiple Choice

The fact that the tax code in the United States is more advantageous to wealthy citizens than that of almost any other Western nation supports the claim that Americans

• A)strongly reject the ideal of popular sovereignty.
• B)strongly endorse the ideal of equality of opportunity.
• C)generally tolerate economic inequality.
• D)believe in majority rule with minority rights.

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Definitions:

Portfolio

An assortment of financial assets including stocks, bonds, commodities, cash, and equivalents, as well as mutual funds and exchange-traded funds (ETFs).

Standard Deviation

A statistical measure that quantifies the variation or dispersion of a set of data points.

Fire Insurance

A type of insurance policy that covers damage and losses caused by fire.

Rule Of 70

A simple way to estimate the number of years it takes for an amount to double, by dividing the number 70 by the annual growth rate percentage.