Over the Last Decade the U

question 2

Multiple Choice

Over the last decade the U.S.budget deficit and the U.S.balance of payments deficit have moved

• A) in the same direction
• B) in opposite directions
• C) in the same direction some years and the opposite direction other years
• D) none of the above

---

Definitions:

Tax Reform Act

Legislation aimed at altering tax policies, often seeking to adjust rates, broaden the tax base, or simplify the tax code. Specific acts by this name have been enacted in various years in different countries.

Tax Shelters

Financial arrangements made to minimize or avoid taxes through legal means.

Loopholes

Provisions in laws that allow people to avoid their intent, often used to evade regulations or taxes without technically breaking the law.

Money Transfers

The act of moving funds from one account or individual to another, through various methods such as wire transfers, checks, or electronic transactions.