Best guesses of an event occurring in the future are based on ...

[arivle123]

Best guesses of an event occurring in the future are based on
 
  A) estimates derived from the frequency of the event occurring in the past.
  B) coin flips.
  C) subjective probability.
  D) the wisdom of crowds.

Question 2

List four costs of taxation (above the tax itself) and provide a description of each.
 
  What will be an ideal response?

[verrinzo]

Answer to Question 1

C

Answer to Question 2

One cost of taxation is the welfare cost of taxation, which occurs because individuals take actions to avoid a tax. Another cost of taxation is compliance costs of taxation, such as the time and effort filling out tax forms or keeping records for tax keeping purposes. A third cost of taxation is administrative costs, which are the costs borne by the government to collect taxes, such as the cost of operating the Internal Revenue Service. A fourth cost of taxation is the political costs of taxation. The political costs of taxation incur when taxpayers attempt to influence tax laws by hiring lobbyists, writing their legislators, etc.