Chapter26: Tax Practice And Ethics
Section: Chapter Questions
Problem 3DQ
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Question
When a government lowers taxes it is employing ________.
A) fiscal
B) monetary policy
C) domestic policy
D) the law of one price
Expert Solution
Step 1
Introduction:
Tax can be defined as mandatory levy by the government on the citizens of the country. It is imposed on both individuals & organizations. Individuals pay income tax & companies pay corporate taxes. Tax is considered to be an important source of revenue for the government in order to conduct the operations of the country.
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