According to the Textbook (Based Upon 2011 Data),if the Bottom

question 141

Multiple Choice

According to the textbook (based upon 2011 data) ,if the bottom half of all U.S.income tax payers were allowed to stop paying the income tax entirely and the top 50% continued to pay as they do now,tax revenues to the government would drop by about

• A)2.9 percent.
• B)15.7 percent.
• C)23.9 percent.
• D)33.3 percent.
• E)50.8 percent

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Definitions:

Dividends

Distributions of earnings given by a company to its stockholders, typically from the profits made.

Labor Supply Curves

Graphical representation showing the relationship between different wage levels and the quantity of labor workers are willing to supply, generally sloping upwards indicating that higher wages attract more labor.

Movements of Workers

Refers to the geographical or occupational mobility of labor, which includes migration or changes in jobs within or across industries.

Increases in Productivity

An improvement in the efficiency of producing goods and services, often resulting in more output for the same amount of input.