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Ivahew [28]
3 years ago
14

To eliminate the deficit​ (and halt the growth of the net public​ debt), a politician suggests that​ "we should tax the​ rich."

Suppose the politician defines​ "the rich" as people with annual taxable incomes exceeding​ $1 million per year. Given​ "the rich" rarely earn a combined taxable income exceeding​ $1 trillion, yet the federal deficit has regularly exceeded​ $1 trillion in recent​ years, which of the following must be​ trueA. The deficit cannot be eliminated just by taxing "the nch." B. I government spending is not reduced, taxes on the middle class must be increased in order to eliminate the deficit. C. To eliminate the deficit, government spending must be reduced. D. All of the above.
Business
1 answer:
Bad White [126]3 years ago
8 0

Answer:

D. All of the above.

Explanation:

All the given statements are correct, they will have to tax the middle class as well, government will have to reduce the expenditure and just taxing the rich will not be enough. To eliminate the deficit, government spending must be reduced.

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When the world price of some good is above the domestic price (before trade), then after trade, that nation will likely be:
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EXPORT

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If the world price is below domestic price of a country before trade, after trade, the country would import

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some countries' governments do not put any limits on the purchase of foreign currency for residents and nonresidents. these coun
max2010maxim [7]

Some countries' governments do not put any limits on the purchase of foreign currency for residents and nonresidents. these countries have a freely convertible currency.

Currency is the unit of price of money that is agreed upon by the government and its people in a country. A country has its own currency, although there are several countries that have the same type of currency. For example, in Indonesia, the currency is Rupiah, while in Japan the currency is Yen. Meanwhile, countries that use the same currency include America, Ecuador, Cambodia, Panama, and the British Indian Ocean Region.

In addition, currency can also be defined as a medium of exchange for goods and services. The party or institution that has the absolute right to issue currency is the government and its central bank.

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1 year ago
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