UStaxpayers Spend Many Hours During the Year Maintaining Records for Tax

question 152

Multiple Choice

U.S.taxpayers spend many hours during the year maintaining records for tax purposes and preparing their income tax returns.This administrative cost

• A)is part of the deadweight loss of taxation.
• B)is equal to the value of consumer surplus associated with the income tax system.
• C)can be claimed as a deduction on income tax returns.
• D)is larger for individuals in the lowest income quintile than for individuals in the highest income quintile.

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Definitions:

Frontal

refers to something pertaining to the front part of something, often used in the context of the frontal lobe of the brain.

Rollerblading

The activity or sport of moving on surfaces by wearing a pair of boots with a single line of small wheels attached to the bottom.

Frontal

In neuroscience, it refers to the frontal part of the brain, which is responsible for executive functions such as decision making, problem solving, control of purposeful behaviors, consciousness, and emotions.

Breakfast

The first meal of the day, usually eaten in the morning.