Table 12-14 the Following Table Presents the Total Tax Liability for an for an Unmarried

question 191

Multiple Choice

Table 12-14
The following table presents the total tax liability for an unmarried taxpayer under four different tax schedules for the income levels shown.

-Refer to Table 12-14.Which tax schedules are regressive?

• A) Tax Schedule A and Tax Schedule B
• B) Tax Schedule B and Tax Schedule C
• C) Tax Schedule C and Tax Schedule D
• D) None of the Tax Schedules are regressive.

---

Definitions:

Temporal Discounting

A preference for immediate gratification over rewards that come later.

Risk Aversion

A behavioral tendency to prefer avoiding losses over acquiring equivalent gains, indicating a preference for certainty and safety.

Certainty Effect

The tendency for people to give greater weight to outcomes that are certain, compared to outcomes that are probable, often observed in decision-making under uncertainty.

Definite Outcomes

A term used to describe results or consequences that are clear, predictable, and unambiguous.