All Taxes Carry Which of the Following Costs

question 99

Multiple Choice

All taxes carry which of the following costs?

• A) Time in creating procedures for collecting revenues
• B) Enforcing tax payments
• C) Managing collected funds
• D) All taxes incur all of these costs.

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Definitions:

Impossibility Theorem

A principle, often associated with Arrow's impossibility theorem, indicating that no voting system can convert the ranked preferences of individuals into a community-wide ranking while also meeting a set of reasonable criteria.

Individual Preferences

The specific likes, dislikes, desires, and priorities that guide an individual's choices or decisions.

Voting Scheme

A system or method used to facilitate and process votes, typically within the context of elections, decision-making processes, or preference assessments.

Logrolling

The practice of exchanging favors, especially in politics, by reciprocal voting for each other's proposed legislation.