The Table Given Below Shows the Absolute Tax Amounts Under

question 84

Multiple Choice

The table given below shows the absolute tax amounts under five different tax policies for respective income levels.Table 19.2

-Whether exchange is between individuals, firms, or countries, voluntary trade occurs because:

• A)only one party is made better off.
• B)both parties of the trade are made better off.
• C)financial agents devote resources to arrange such trades.
• D)these trades create employment opportunity for the economy.
• E)of mandates from governments.

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Definitions:

Swerved

To suddenly change direction, often to avoid a collision or obstacle.

Avoid

In legal terms, to nullify or declare a contract void and unenforceable, as if it never existed.

Reasonable Person

A legal standard used to determine how an average person would responsibly act in certain circumstances.

Duty

A legal or moral obligation to act or refrain from acting in a certain way.