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Author Question: You are a government tax policy advisor. You are asked how to convert the U.S. income tax into a ... (Read 30 times)

lindiwe

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on: Jul 1, 2018
You are a government tax policy advisor. You are asked how to convert the U.S. income tax into a consumption tax. Which of the following is the best response?
 
  a. It already is a consumption tax.
  b. Flatten the brackets into one rate.
  c. Exclude the first 25,000 of income.
   d. Allow unlimited contributions into IRAs

Question 2

One reason the U.S. government might subsidize research of an alternative to crude-oil based gasoline is that
 
  A) more substitutes will reduce the price of crude-oil based gasoline.
  B) more substitutes will increase the elasticity of crude-oil based gasoline.
  C) more substitutes will reduce the impact of supply shocks on the price of crude-oil based gasoline.
  D) Any or all of the above.


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millet

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Reply #1 on: Jul 1, 2018
Answer to Question 1

d

Answer to Question 2

D


lindiwe

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Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

nathang24

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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