Question 1
A local property tax is a tax on ________, while a tax on your salary is a tax on ________.
◦ a flow; a stock
◦ a stock; a flow
◦ a flow; income
◦ a residential holding; a flow
Question 2
The tax rate structure is the
◦ measure or value upon which a tax is levied.
◦ measure of who pays the tax.
◦ study of how taxes change over time.
◦ percentage of a tax base that must be paid in taxes.