A "Tax Protester" Is

question 32

Multiple Choice

A "tax protester" is:

• A) a person who files a 'frivolous' return with the IRS
• B) a person who brings a "frivolous" matter before the Tax Court
• C) can be subject to a penalty for frivolous Tax Court petitions
• D) all of the above
• E) only a and b

Grasp the economic rationale behind achieving optimal levels of pollution and externalities through market-based mechanisms.

Understand the concept of marginal private and social benefits and costs.

Identify the role of government intervention in correcting market failures due to externalities.

Explain how taxes, subsidies, and other policy measures can be used to achieve socially optimal levels of production and consumption.

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Definitions:

Duty

An obligation or responsibility to act in a certain way, often imposed by morals, law, or custom.

Virtue

Moral excellence and righteousness; an admirable quality or trait that is esteemed and desirable.

Programmed Decisions

Automatic responses to routine and recurring situations.

Recurring Situations

Situations or events that happen repeatedly over time, often showing a pattern or cycle.