The Underlying Principles Behind the Slashing of Marginal Tax Rates

question 45

True/False

The underlying principles behind the slashing of marginal tax rates in 1964 were Monetarist.

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Definitions:

Social Institution

An organized and established system of social behavior with a recognized purpose, such as family, education, religion, or government.

Economy

A social institution that determines how a society produces, distributes, and consumes goods and services.

Produces

Creates or manufactures goods or outcomes through a process of effort or operation.

Distributes

refers to the process of giving or delivering something to a number of recipients, spreading items or resources evenly or according to a plan.