Based on Information Provided in the Textbook,which of the Following

question 157

Multiple Choice

Based on information provided in the textbook,which of the following statements is true regarding taxing millionaires and the budget deficit in 2012?

• A)If the government had taxed all income earners who earned more than $1 million a 100 percent income tax rate,the budget deficit would have been completely eliminated,and a budget surplus would have been incurred.
• B)If the government had taxed all income earners who earned more than $1 million a 50 percent income tax rate,the budget deficit would have been completely eliminated.
• C)If the government had taxed all income earners who earned more than $1 million a 100 percent income tax rate,the budget deficit would have fallen but not been completely eliminated.
• D)If the government had taxed all income earners who earned more than $1 million a 100 percent income tax rate,the budget would have been balanced.

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Definitions:

Concrete Operational

A stage in Piaget's theory of cognitive development during which children gain the ability to think logically about concrete events.

Decentered

In developmental psychology, a term referring to the ability to take multiple aspects of a situation into account, seeing things from more than one perspective.

Memory Strategy

Techniques used to enhance memory retention, recall, or the encoding of information.

Elaboration

The process of adding more details or expanding on an idea, theory, or concept to provide a deeper or clearer understanding.