Which of the Following Is Not True Regarding a Tax

question 91

Multiple Choice

Which of the following is not true regarding a tax refund loan?

• A)It is an inexpensive way to borrow money.
• B)It lets you get an advance on a tax refund.
• C)APRs as high as 774 percent have been reported.
• D)An alternative to these loans is to ask for more time to pay a bill.
• E)A cash advance on your credit card may cost less.

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Definitions:

Consumer Incomes

The total earnings received by consumers, including wages, salaries, benefits, and income from investments, influencing their purchasing power and consumption patterns.

Demand Shift

Occurs when a change in factors other than the price of the good itself leads to a change in consumer demand, causing the demand curve to move left or right.

Equilibrium Price

The price at which the quantity of a good demanded equals the quantity supplied, leading to no shortage or surplus.

MR

Short for Marginal Revenue, it is the increase in revenue from selling one additional unit of a good or service.