The Deficit Principle States That

question 144

Multiple Choice

The deficit principle states that

• A) a need is activated only when the next-lower-level need is satisfied.
• B) people dislike work, lack ambition, act irresponsibly, and prefer to be led.
• C) people are willing to work, like responsibility, and are self-directed and creative.
• D) people at work rationally consider opportunities made available to them and do whatever is necessary to achieve the greatest personal and monetary gain.
• E) a satisfied need is not a motivator of behaviour.

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Definitions:

Federal Income Tax

Tax levied by the national government on the annual income of individuals, corporations, trusts, and other legal entities.

Income Distribution

How a nation's total GDP is distributed amongst its population, often used to analyze economic inequality.

Tax Deductible Donation

A charitable contribution that can be subtracted from one's gross income, lowering the taxable income and thus reducing the tax liability.

Marginal Tax Rate

The marginal tax rate is the percentage of tax applied to your income for each tax bracket in which you qualify, essentially the rate paid on the last dollar of income.