Which of the Following Statements Pertaining to Tax Law Is

question 19

Multiple Choice

Which of the following statements pertaining to tax law is true?
I.A tax textbook is considered a primary source.
II.Secondary sources help locate and interpret primary sources.
III.Primary sources emanate from the three branches of the federal government.
IV.An article in a law journal written by a former commissioner of the Internal Revenue Service is considered a secondary source of tax law.
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• A)Only statement I is correct.
• B)Statements I and II are correct.
• C)Statements I, II, and III are correct.
• D)Statements II, III, and IV are correct.
• E)Statements I, II, III, and IV are correct.

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Definitions:

GDP Deflator

A measure of the price level of all domestically produced final goods and services in an economy, used to convert nominal GDP into real GDP.

CPI

By applying a weighted average methodology, the Consumer Price Index tracks the fluctuations in average prices for a comprehensive array of consumer goods and services, such as medical care, food, and transportation services.

CPI

It's an index that measures the average prices of a basket of consumer services and products, like food, transportation, and healthcare, through their weighted average, known as the Consumer Price Index.

Base Year

A specific year against which economic or financial data is compared to measure changes in prices, outputs, or other economic indicators over time.