Congress Recently Approved a New, Bigger Budget for the IRS

question 60

Multiple Choice

Congress recently approved a new, bigger budget for the IRS. What taxation concept evaluates the cost of administering our tax law?

• A) Convenience
• B) Economy
• C) Certainty
• D) Equity
• E) None of these

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Definitions:

Equilibrium

A state where market supply and demand balance each other, and, as a result, prices become stable.

University City

An urban area typically dominated by its university population, often featuring a high density of academic, housing, and social infrastructure for students.

Incomes

Regular financial earnings from labor or investment activities.

Government Policies

Measures and laws enacted by a government to influence economic, social, or political issues.