Kaelen Works as a Sales Representative for a Large Book

question 23

Multiple Choice

Kaelen works as a sales representative for a large book publisher.She was recently held liable in tort and ordered to pay $35 000 to Antony.Which of the following statements is TRUE?

• A)If Kaelen wants to appeal the trial judge's decision, she normally must do so within one year of that decision.
• B)The garnishee process will allow Antony to seize and sell some of Kaelen's assets in order to satisfy judgment.
• C)Antony may be able to directly receive some of the money that Kaelen normally would receive as income from her employer, by garnisheeing Kaelen's wages.
• D)The court's award can be classified as nominal damages because Antony is entitled to receive damages of a certain denomination in money.
• E)If Kaelen does not have enough money to fully pay her debt to Antony, Antony will be entitled to collect the remainder either from Kaelen's lawyer or, if Kaelen's lawyer does not have sufficient funds, from the law society's assurance fund.

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Definitions:

Marginal Tax Rates

The rate at which an additional dollar of income is taxed, showing the percentage of tax applied to your income for each tax bracket you pass through.

Laffer Curve

A theoretical representation of the relationship between tax rates and government revenue, suggesting there is an optimal tax rate that maximizes revenue.

Tax Revenue

The financial earnings that governments obtain through taxation.

Price Ceiling

A legally imposed limit on the price that can be charged for a good or service.