Which of the Following Statements About Implicit and Explicit Taxes

question 60

Multiple Choice

Which of the following statements about implicit and explicit taxes is false?

• A) The taxpayer pays an explicit tax to the taxing jurisdiction.
• B) An investment yielding ordinary income taxed at the regular tax rates should not have an implicit tax.
• C) Any implicit tax on investment income is always more than the explicit tax on the income.
• D) An implicit tax reduces the before-tax yield on an investment.

Identify exceptions to mandatory retirement age and understand their legal basis.

Recognize the role and responsibilities of the Equal Employment Opportunity Commission (EEOC) in administering the Age Discrimination in Employment Act (ADEA).

Understand the concept of bona fide occupational qualifications (BFOQ) and how it applies to age discrimination.

Comprehend the statutory exceptions for certain professions regarding mandatory retirement age.