Which of the Following Statements Is True

question 171

Multiple Choice

Which of the following statements is true?

• A)New Hampshire residents pay a higher percent of their income in taxes than the people in the province of Quebec,CanadA.
• B)The top marginal tax rate today is about half of the top marginal tax rate in 1960.
• C)Today the overall tax burden is about the same as what it was in 1929.
• D)Education in the U.S.is paid for exclusively by local taxes.

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Definitions:

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded by consumers.

Income

The financial return or earnings from employment, investments, or business ventures.

Income Effect

The change in consumption that results from a change in real income, holding prices constant.

College Textbooks

Books prescribed by college educators that contain the necessary subject matter for students enrolled in college courses.