Which of the Following Would Occur If the United States

question 106

Multiple Choice

Which of the following would occur if the United States switched from income taxes to consumption taxes?

• A)Consumption would increase.
• B)The supply of loanable funds would decrease.
• C)Saving would increase.
• D)Tax revenues would rise.

---

Definitions:

American Adages

American adages are short, memorable expressions or sayings that convey practical life wisdom or truth, often reflective of American culture or values.

Common Sense

The basic level of practical knowledge and judgment that is shared by a large number of people.

Social Psychologists

Researchers or scientists who study how people's thoughts, behaviors, and feelings are influenced by the actual, imagined, or implied presence of others.

Personality Psychologist

A professional who studies the variation in personality traits among individuals and how these traits affect their lives.