Which Statement Is True

question 211

Multiple Choice

Which statement is true?

• A)In 1900 most Americans lived on farms.
• B)Our nation's industrial base was largely destroyed by World War I.
• C)John D. Rockefeller controlled the U.S. automobile industry during the first two decades of the 20th century.
• D)Andrew Carnegie was the leading steel producer in the U.S. in 1900.

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Definitions:

Proportional Tax

A tax system where the tax rate remains constant regardless of the taxpayer's income level, meaning everyone pays the same percentage of their income.

Tax Schedules

Detailed tables or charts provided by tax authorities that dictate the tax rates applicable to different levels of taxable income or types of taxpayers.

Taxable Income

The amount of income used to calculate how much tax an individual or a company owes to the government, after deductions and exemptions.

Progressive Tax

A taxation system where the tax rate increases as the taxable income increases, typically placing a higher burden on higher-income earners.