Organizational Behavior Managing People and Organizations 4th Edition By Ricky Griffin, Jean Phillips (Test Bank)

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ment Planning 2020 23rd Edition Jones
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PrinciplesloflTaxationlforlBusinesslandlInvestmentlPlanning,l23el(Jones)lCh
apterl2 PolicylStandardslforlalGoodlTax

1) Altaxlmeetslthelstandardloflsufficiencyliflitlisleasylforlpeopleltolpayltheltax.

Answer:l FALSElDiff
iculty:l1lEasy
Topic:l l StaticlversuslDynamiclForecasting
LearninglObjective:l 02-
01lExplainlthelconceptloflsufficiencyloflalgoodltax.lAccessibility:l KeyboardlNavigation
Type:l StaticlGradabl
e:l automatic

2) Thelfederallgovernmentlislnotlrequiredltolpaylinterestlonlthelnationalldebt.

Answer:l FALSElDiff
iculty:l1lEasy
Topic:l l StaticlversuslDynamiclForecasting
LearninglObjective:l 02-
01lExplainlthelconceptloflsufficiencyloflalgoodltax.lAccessibility:l KeyboardlNavigation
Type:l StaticlGradabl
e:l automatic

3) Alstaticlforecastloflthelrevenueleffectloflaltaxlratelchangelassumeslthatltheltaxlbaseldoeslnotlchang
e.

Answer:l TRUElDiffi
culty:l1lEasy
Topic:l l StaticlversuslDynamiclForecasting
LearninglObjective:l 02-
01lExplainlthelconceptloflsufficiencyloflalgoodltax.lAccessibility:l KeyboardlNavigation
Type:l StaticlGradabl
e:l automatic

4) Aldynamiclforecastloflthelrevenueleffectloflaltaxlratelchangelassumeslthatltheltaxlbaseldoeslnotlch
ange.

Answer:l FALSElDiff
iculty:l1lEasy
Topic:l l StaticlversuslDynamiclForecasting
LearninglObjective:l 02-
01lExplainlthelconceptloflsufficiencyloflalgoodltax.lAccessibility:l KeyboardlNavigation
Type:l StaticlGradabl
e:l automatic



1
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HilllEducation.
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,DOWNLOAD THE Test Bank for Principles of Taxation for Business and Invest
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ment Planning 2020 23rd Edition Jones
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5) ThelfederallSociallSecurityltaxlburdenlonlemployeeslhaslnotlincreasedlsincel1990lbecauseltheltaxlr
atelhaslnotlincreasedlsincelthatlyear.

Answer:l l FALSE
Explanation:l ThelSociallSecurityltaxlburdenlincreaseslannuallylbecauseltheltaxlbaselincreaseslannua
lly.
Difficulty:l2lMedium
Topic:l l StaticlversuslDynamiclForecasting
LearninglObjective:l 02-
01lExplainlthelconceptloflsufficiencyloflalgoodltax.lAccessibility:l KeyboardlNavigation
Type:l StaticlGradabl
e:l automatic

6) IflStatelHlincreaseslitslsalesltaxlratelbyl1%,litslsalesltaxlrevenuelmustlalsolincreaselbyl1%.

Answer:l FALSElDiff
iculty:l1lEasy
Topic:l l StaticlversuslDynamiclForecasting
LearninglObjective:l 02-
01lExplainlthelconceptloflsufficiencyloflalgoodltax.lAccessibility:l KeyboardlNavigation
Type:l StaticlGradabl
e:l automatic

7) ThelcityloflBernelrecentlylenactedlal10%ltaxlonlthelpriceloflalsubwaylticket.lConsequently,lMrs.l
Lanelnowlwalksltolworklinsteadlofltakinglthelsubway.lHerlbehaviorlillustrateslthelsubstitutionleffe
ctloflaltaxlincrease.

Answer:l l TRUE
Explanation:l Mrs.lLanelsubstitutedlalnontaxablelactivitylforlaltaxablelactivity.lDifficulty:l
3lHard
Topic:l l BehaviorallResponsesltolRatelChanges
LearninglObjective:l 02-
02lDifferentiatelbetweenlthelincomeleffectlandlthelsubstitutionleffect.lAccessibility:l KeyboardlNavi
gation
Type:l StaticlGradabl
e:l automatic

8) JurisdictionlPlrecentlylincreasedlitslincomeltaxlrate.lAltaxpayerlwholreactsltolthelincreaselbylwork
inglharderltolearnlmorelincomelisldemonstratinglthelincomeleffectloflthelratelincrease.

Answer:l TRUElDiffi
culty:l1lEasy
Topic:l l BehaviorallResponsesltolRatelChanges
LearninglObjective:l 02-
02lDifferentiatelbetweenlthelincomeleffectlandlthelsubstitutionleffect.lAccessibility:l KeyboardlNavi
gation
Type:l StaticlGradabl
2
Copyrightl2020l©lMcGraw-
HilllEducation.lAlllrightslreserved.lNolreproductionlorldistributionlwithoutlthelpriorlwrittenlconsentloflMcGraw-
HilllEducation.
mynursytest.store

,DOWNLOAD THE Test Bank for Principles of Taxation for Business and Invest
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ment Planning 2020 23rd Edition Jones
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e:l automatic




3
Copyrightl2020l©lMcGraw-
HilllEducation.lAlllrightslreserved.lNolreproductionlorldistributionlwithoutlthelpriorlwrittenlconsentloflMcGraw-
HilllEducation.
mynursytest.store

, DOWNLOAD THE Test Bank for Principles of Taxation for Business and Invest
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ment Planning 2020 23rd Edition Jones
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9) Accordingltolsupply-sideleconomicltheory,laldecreaselinltaxlrateslforlhigh-
incomelindividualslcouldlactuallylcauselanlincreaselinltaxlrevenue.

Answer:l TRUElDiffi
culty:l1lEasy
Topic:l l BehaviorallResponsesltolRatelChanges
LearninglObjective:l 02-
02lDifferentiatelbetweenlthelincomeleffectlandlthelsubstitutionleffect.lAccessibility:l KeyboardlNavi
gation
Type:l StaticlGradabl
e:l automatic

10) Supply-
sideleconomicltheorylholdslthatlpeoplelwholbenefitlfromlaltaxlratelreductionlwilllspendltheirltaxlw
indfalllonlconsumptionlgoods.

Answer:l l FALSE
Explanation:l Supply-
sideleconomicltheorylpredictslthatlpeoplelwholbenefitlfromlaltaxlratelreductionlwilllinvestltheirltaxlwi
ndfalllinlnewleconomiclventures.
Difficulty:l3lHard
Topic:l l BehaviorallResponsesltolRatelChanges
LearninglObjective:l 02-
02lDifferentiatelbetweenlthelincomeleffectlandlthelsubstitutionleffect.lAccessibility:l KeyboardlNavi
gation
Type:l StaticlGradabl
e:l automatic

11) Stateluseltaxeslarelmorelconvenientlforlindividuallconsumerslthanlstatelsalesltaxes.

Answer:l l FALSE
Explanation:l Statelsalesltaxeslarelmorelconvenientlbecauseltheylarelcollectedlbylthelseller.lConsume
rslmustlpayluseltaxesldirectly.
Difficulty:l2lMedium
Topic:l l TaxeslShouldlBelConvenient
LearninglObjective:l 02-
03lDescribelthelcharacteristicsloflalconvenientltax.lAccessibility:l KeyboardlN
avigation
Type:l StaticlGradabl
e:l automatic




4
Copyrightl2020l©lMcGraw-
HilllEducation.lAlllrightslreserved.lNolreproductionlorldistributionlwithoutlthelpriorlwrittenlconsentloflMcGraw-
HilllEducation.
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